There are thousands of Realtors, Mortgage Brokers and Lawyers out there but not all of them fit you, your situation, and have the level of customer service that you expect.  On top of that, in the case of a Realtor who charges fees to sell your home, or a lawyer, there is a cost associated and can vary a lot among purported “professionals” advertising their services.

It is important to find individuals that you trust.  This often starts with asking friends and family if they know a realtor or a mortgage professional who they could recommend. Believe it or not, many people know someone or have worked with someone in the past but would not recommend them, or use them again.  This can say a lot about the service they provide.

Next, take those names and search them on the internet.  Look at their websites, blogs, service offerings and reviews, if available.  This can help support the referral you’ve received or show you that maybe this individual doesn’t have the experience you require. If you have received a referral for a lawyer, ensure they specialize in real estate.  Not only will this be more cost effective for you but real estate transactions are complicated and ensuring you are hiring someone who does real estate transactions daily can ensure your transaction proceeds without delay or issue.

Once you have found one Realtor, Mortgage Broker or Real Estate Lawyer, these individuals all have a network of other professionals that they work with regularly.  Because any one they refer is a reflection/extension of them, they take the act of referring very, very seriously. This core group also has contacts for other professionals that you might need along the way like Inspectors and Appraisers.

Once you have a team in place you should start with a pre-approval to know exactly what you can afford.  This will ensure you avoid disappointment by looking for homes outside of your price range. Affordability is a mix of income, current debt levels, credit, down payment and of course, the purchase price.  As I’ve mentioned in previous posts, typical online mortgage calculators don’t look at all of these factors when determining your maximum mortgage amount.

In addition, what the bank says you can afford and what you can comfortably pay each month, given your current lifestyle, can be two very different things.  Another reason why it’s a good idea to start with a pre-approval. Once you’ve had preliminary discussion with your Mortgage Broker, it’s time to shop! I can’t stress enough how important it is to get your team in place sooner rather than later.  Having the right professionals in place takes the stress out of the process.