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Parties Involved in a Home Purchase & Sale
⏱ 5 min
Principal Parties
🏠 Home Seller(s): The individual(s) or entity selling the property.
🧑🏽🏭👨🏼🍳👷🏽 Home Buyer(s): The individual or entity, often multiple in the case of co-buying, purchasing the property.
Professional Parties
The following professionals are often, though not always, involved in the Purchase and Sale transaction.
👩🏻 Listing Agent: Enters a legal agreement with the homeowner to market their property and list it on the Multiple Listing Service.
👩🏽🦱 Buyer's Agent: Collaborates with the buyer to find a suitable property and negotiate the acquisition terms.
👩💼 Loan Officer: A financial institution representative who guides clients through various loan options and originates mortgage financing.
🧑🏽💼 LO Assistant: Assists the Loan Officer in document collection, coordination, and loan process facilitation.
🙎🏿 Underwriter: Evaluates the borrower's financial standing, including creditworthiness and assets, to make an informed loan decision.
👨🏼💼 Title Officer: Conducts comprehensive title checks, clears titles, and offers title insurance to ensure smooth property ownership transition.
🧑🦳 Escrow Officer: A neutral third party who coordinates the closing, collecting, and disbursing of funds as per the settlement statement and records necessary documents.
🧑🏼🔧 Appraiser: Conducts a market-based property assessment on behalf of the lender, combining subjective judgment with comparable sales data.
🕵🏽♀️ Inspector: Provides an impartial, detailed evaluation of the property's key systems and components.
🧑🏽💼 Insurance Agent: Helps buyers identify necessary homeowner's insurance coverage and selects the most suitable policy.
🧑🏽⚖️ Attorney: Advises on legal aspects, drafts, reviews contracts, and may oversee the closing process.
👩🏻🏫 Chartered Public Accountant (CPA): Advises on the financial and tax implications of co-buying and co-owning a property.
🗒️ Field notes
Real estate professionals, including Loan Officers and RE agents, are salespeople who are compensated based on the volume of business they originate: they make money when a transaction closes.
Attorneys are often generalists and rarely focused on the full-spectrum, practical aspects of co-ownership beyond the legal domain (even those specializing in real estate).
If you're looking for badass real estate pros with vetted credentials and experience working with co-buyers, check out CoBuy-certified™ Pros.