The Spectrum of Representation
An important part of our role is referring you to trusted professionals who will ensure a seamless real estate transaction with as little stress as possible. There are so many pieces of the puzzle when it comes to purchasing or selling a home, and – trust us – we’ve seen the good, the bad, and the ugly when it comes to the representation and services offered by other associated industries. Let’s shed some light on the people involved in your real estate matters:
Banks and Lenders. There are a bazillion institutions who will lend you money. But let us be clear: all lenders/mortgage specialists/brokers are NOT the same…. Aside from the conscientiousness of an individual, and their level of knowledge, and experience, it is important to consider how effectively they can process your business for you…. Some things to consider:
- Was a full credit check completed at the preapproval stage, assuring that no problems would arise when an accepted offer was submitted for approval?
- How closely does your representative work with his/her underwriter, and how does this relationship impact the timing of an approval?
- Does your lender have the ability to choose your insurer in order to benefit you, the buyer?
There are many considerations and factors to consider when working with a lender – far more than we could cover or account for here… bottom line is this: when the clock is ticking and you need a green light in order to fulfill your financing condition, you’ll want to be abundantly sure that the individual who is doing this work on your behalf is doing so as efficiently and timely as possible – your deal could ‘bank’ on it. No pun intended. :o)
Home Inspectors. There are plenty of people who have their credentials to call themselves a certified Home Inspector. This includes everyone from the DIY handyman, to the professional contractor. When you’re paying someone to provide a professional opinion about the state, structure, condition, and red flags associated with what will likely be one of the largest purchases you ever make, you want to ensure that you can rely on this advice… someone who will be honest, real, and down to earth. Someone who can identify risks and assess costs realistically. If you aren’t well-versed when it comes to understanding the functions and finishes of a home, you’ll want to hire someone who can educate you well as you take on the responsibility of home ownership.
Lawyers. No one plans for their real estate transaction to go sideways… but life happens. We have seen situations unfold that require legal counsel and representation. Will your lawyer advocate for you? Ensuring that you have a team in place to fight for your rights and best interests will not only provide peace of mind, but will provide a safeguard should you need to call in some back-up to get the job done.
Contractors. The spectrum is large when it comes to those who offer their services to fix, renovate, repair, and maintain your property. A quick search will show you everyone from the neighbour’s uncle’s brother’s handyman, to firms that manage largescale residential and commercial projects. Be sure that whomever you hire comes with a solid referral, is skilled at the tasks required, guarantees their work and is properly insured. There are horror stories out there… everything from sub-par workmanship, to compromised structural components of a home, and even life-threatening hazards such as fire, gas leaks, or explosion risks caused by inexperienced or ill-equipped help. The bottom line is that hiring the wrong contractor could cost more money in the long run, not to mention insurance claims and even lawsuits.
Call us to point you in the right direction when retaining a team of professionals. We have all the contacts you need to ensure you receive top-notch representation. The right combination of service providers can make all the difference in your real estate endeavors. Let us ensure you are taken care of well.