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Buying a Home for the First Time: Key Stakeholders
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Who are the Key Stakeholders in a real estate transaction? (Buying a Home for the First Time) | #firsttimehomebuyer #buyingahomeforthefirsttime #bothellrealtor #bothellrealestate #bothellrealestateagent #realestatebothell #realtorsinbothell #realestateagentbothell #bothellwashington #bothellwa #livinginbothell #movingtowashington #movingtobothell #firstimehomebuyers
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Nan Nan Liu | Your real estate agent next door, in Bothell Washington
425.236.4550
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Welcome back to Bothell Real Estate Daily! And welcome to the first video in the "Buying a Home for the First Time" series. In this series, the target audience is first time home buyers. We will explore the common topics and answer and explain the common questions that first time home buyers often feel confused about.
As the debut video of the Buying a Home for the First Time series, we will first explain the list of key stakeholders of the real estate transaction, and why they are important for first time buyers. If you are buying a home for the first time, your excitement can easily turn into fear if you don't have the knowledge to get started. That's why I created this series, to help alleviate your concerns and anxieties about buying a home for the first time, and arm you with valuable information and support, so you can make the most confident decision as a first time home buyer.
Before we start, an introduction: my name is Nan Nan. I am a Bothell realtor and long-time Bothell resident. I love living in Bothell and that's why I love serving my community. Being a real estate agent in Bothell, I love sharing my city with others. If you are moving to Bothell or the greater Seattle areas, feel free to reach out. I can be of service in both real estate and as a local guide.
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KEY STAKEHOLDERS IN A REAL ESTATE TRANSACTION:
Intro (00:12)
Welcome to the first video in the Buying a Home for the First Time series! My name is Nan Nan and I am a local realtor in Bothell, Washington. I serve Bothell WA and the greater Seattle areas.
In today's video, you are going to learn about the key stakeholders of a typical real estate transaction. Just like how every parcel of land is unique, every real estate transaction is unique as well. Therefore, your next transaction might involve more of less key stakeholders. However, this list contains, in general, the list of key stakeholders.
As a first time home buyer, you might feel anxious or even fearful about buying your first house. That's normal; and that's why I am here to help. The aim for the "Buying a Home for the First Time Series" is to increase your consumer confidence as a first time home buyer, with valuable information and support.
Stakeholder 1: The Buyer's Agent (Selling Agent) (00:58)
Aligning with a real estate agent is the first step in any real estate transaction because of the agent's market knowledge, wide network and local involvement. An agent can provide information that free websites like Redfin and Zillow cannot. They also provide a level of service that discount or salaried agents can't match.
Stakeholder 2: Lender (01:55)
If you are buying a home for the first time, you will likely take out a mortgage. The loan amount itself is scary enough, let alone the interest rate. Teaming up with a good lender is essential because he or she will not only get you a loan but also help explain financing along the way.
Stakeholder 3: Seller (02:56)
The seller is really your partner in the real estate transaction process. Even though you, the buyer, may not see eye-to-eye with the seller (for example, you might have different pricing opinions), you are both working towards the same goal. Therefore, you really are teammates.
Stakeholder 4: Title and Escrow (03:52)
Title will ensure that prior to transferring the title of the property to you, all previous titles are clear. Title will also offer insurance. Escrow is like a locker, a temp place to store all the financials and documents of the current transaction.
Stakeholder 5: Service Providers (04:55)
They include insurance, appraisers and inspectors, all of them helping you to a smooth closing.
Stakeholder 6: YOU - the buyer!!! (05:33)
Last and most importantly, YOU, the buyer and client. You are the ultimate decision maker. If you are buying a home for the first time, try to remember how important your role is and that no one can take the decision-making power away from you.
Final Thoughts (06:40)
Whether you are buying a home for the first time or are already seasoned in the business of real estate, it's always nice to know who the key players are. It also helps to know their intentions and motivation. The people you work with can make or break the experience, I hope you pick great teammates who are there to push through the often-complex real estate transaction.
----------------------------------
Nan Nan Liu | Your real estate agent next door, in Bothell Washington
425.236.4550
----------------------------------
Welcome back to Bothell Real Estate Daily! And welcome to the first video in the "Buying a Home for the First Time" series. In this series, the target audience is first time home buyers. We will explore the common topics and answer and explain the common questions that first time home buyers often feel confused about.
As the debut video of the Buying a Home for the First Time series, we will first explain the list of key stakeholders of the real estate transaction, and why they are important for first time buyers. If you are buying a home for the first time, your excitement can easily turn into fear if you don't have the knowledge to get started. That's why I created this series, to help alleviate your concerns and anxieties about buying a home for the first time, and arm you with valuable information and support, so you can make the most confident decision as a first time home buyer.
Before we start, an introduction: my name is Nan Nan. I am a Bothell realtor and long-time Bothell resident. I love living in Bothell and that's why I love serving my community. Being a real estate agent in Bothell, I love sharing my city with others. If you are moving to Bothell or the greater Seattle areas, feel free to reach out. I can be of service in both real estate and as a local guide.
----------------------------------
KEY STAKEHOLDERS IN A REAL ESTATE TRANSACTION:
Intro (00:12)
Welcome to the first video in the Buying a Home for the First Time series! My name is Nan Nan and I am a local realtor in Bothell, Washington. I serve Bothell WA and the greater Seattle areas.
In today's video, you are going to learn about the key stakeholders of a typical real estate transaction. Just like how every parcel of land is unique, every real estate transaction is unique as well. Therefore, your next transaction might involve more of less key stakeholders. However, this list contains, in general, the list of key stakeholders.
As a first time home buyer, you might feel anxious or even fearful about buying your first house. That's normal; and that's why I am here to help. The aim for the "Buying a Home for the First Time Series" is to increase your consumer confidence as a first time home buyer, with valuable information and support.
Stakeholder 1: The Buyer's Agent (Selling Agent) (00:58)
Aligning with a real estate agent is the first step in any real estate transaction because of the agent's market knowledge, wide network and local involvement. An agent can provide information that free websites like Redfin and Zillow cannot. They also provide a level of service that discount or salaried agents can't match.
Stakeholder 2: Lender (01:55)
If you are buying a home for the first time, you will likely take out a mortgage. The loan amount itself is scary enough, let alone the interest rate. Teaming up with a good lender is essential because he or she will not only get you a loan but also help explain financing along the way.
Stakeholder 3: Seller (02:56)
The seller is really your partner in the real estate transaction process. Even though you, the buyer, may not see eye-to-eye with the seller (for example, you might have different pricing opinions), you are both working towards the same goal. Therefore, you really are teammates.
Stakeholder 4: Title and Escrow (03:52)
Title will ensure that prior to transferring the title of the property to you, all previous titles are clear. Title will also offer insurance. Escrow is like a locker, a temp place to store all the financials and documents of the current transaction.
Stakeholder 5: Service Providers (04:55)
They include insurance, appraisers and inspectors, all of them helping you to a smooth closing.
Stakeholder 6: YOU - the buyer!!! (05:33)
Last and most importantly, YOU, the buyer and client. You are the ultimate decision maker. If you are buying a home for the first time, try to remember how important your role is and that no one can take the decision-making power away from you.
Final Thoughts (06:40)
Whether you are buying a home for the first time or are already seasoned in the business of real estate, it's always nice to know who the key players are. It also helps to know their intentions and motivation. The people you work with can make or break the experience, I hope you pick great teammates who are there to push through the often-complex real estate transaction.
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