Page 21 - Your Home-Buying Packet:

KEY PROFESSIONALS

INVOLVED IN A REAL ESTATE TRANSACTION

Buying a home involves a lot of work. It is important to have a team of professionals to work

together to guide you through the process. Meet the team and find out what we do for you.

Realtor
A Realtor is a licensed real estate agent and a member of the National Association of
Realtors, a trade association. They also belong to state and local Association of
Realtors. To become a member, Realtors agree to abide by the association's standards
and are held at a higher level of code of ethics than the average real estate agent.

Real Estate Agent Loan Officer Home Inspector
Licensed by the state to A representative of a bank Objectively and
represent parties in the or other financial independently provides
transfer of property. institution. They help a comprehensive
Three main types are: customers identify their analysis of a home's
Buyer's Agent - represents the buyer borrowing options and major systems and
Seller's Agent - represents the seller. help them understand the components.
Dual Agent - represents both sides. terms of their loan.

Appraiser Insurance Agent Real Estate Attorney
Works on behalf of the Helps a homebuyer Advises on all legal
lender and provides a determine the aspects of the real
market analysis of the homeowner's estate transaction.
subject property. An protection coverage Additionally, they
appraiser's finding is needed and then finds are able to draft
subjective and combined the right insurance and review
with market findings of sold policy to fit those needs contracts, help
properties within the decide how to take
surrounding neighborhood. title and assist with
the closing process.
In some states, real
estate closings can
only be conducted
by attorneys.

Escrow/ Closing Officer Closing/ Settlement / Title Agent

A non-biased 3rd party who works with all Performs title searches to
participants to facilitate a successful closing of ensure a clear title so a title
a real estate transaction. At closing, the closing insurance policy can be
officer will collect the purchase money funds issued. In some states, they
from the buyer and lender as well as the facilitate the transfer of real
stettlement costs from each party. They estate.
disburse the funds in accordance with the
closing documents and record the necessary
documents to transfer ownership of the
property.