Welcome everyone. I’m your host Adrian Hernandez. Thank you guys for tuning in to today’s episode if you haven’t done so already Please do me a huge favor hit that subscribe button. Make sure you share this episode with everyone, you know, really appreciate that especially in today’s episode you Guys there. Alright, let’s go Alright guys, so we are gonna be speaking about the home buying process and before we get started I want to give all of you first and foremost. I want to give all of you a huge round of applause and it congratulations To each and every single one of you for starting the home buying process. It’s an exciting time Especially you first time home buyers out there. Oh my god. I’m beyond excited for you. Yes. Yes It’s going to be their skin. It’s gonna be little nerd you’re gonna feel a little nervous at the beginning But but that’s why I’m here. I want to help us stay excited throughout this process So I want to give us a the biggest rule throughout this entire thing Okay, guys, can you can you agree with me on something? Can you agree and this is rule number one? Can you agree that we’ll have fun make this process enjoyable, don’t it? Yes, I understand It’s a serious process that we’re going through but lighten up a little bit. Okay, just shake it off. You’re feel stressed Just shake it off understand that it’s going to be okay, especially with when you have the right guidance like this video, okay Alright guys, so let’s get started. Let’s talk about who’s who, okay So I want you to write down who’s who these are all of the professionals that are involved in this transaction Okay, this would be section 1 who’s who now? We need to understand that under who’s who we have realtor’s Okay, now realtor’s are separated into two separate categories. You have a listing agent So you have a listing agent up here now, why is the listing agent important? That’s the agent who has the home listed for sale. Okay, they’re the agent who went in and they listed the property for sale They met with the seller. They’re listing the homes that make sense And then there’s a buying agent now the buyer’s agent is the one that typically works with the buyer They’re the ones that bring the buyer To the property and that agent represents the buyer not all of them only specialize in working with buyers Some of them a lot of them like here at our team we do both right we do buying and listing a lot of you agents do the same thing a lot of the listing agents a lot of the times represent the buyer, so Understand that but be aware because if you ever go directly to the listing agent, you know There’s this this and this is a pitfall guys. You know, let’s talk about pitfalls This is a pitfall a lot of buyers go directly to the listing agent but if the listing agent doesn’t have the Buyers best interest in mind first and they have the sellers best interests in mind first Then we have to ask ourselves who’s getting a better deal here now. I don’t look it We do a lot of these where we represent We have a listing and we also represent the buyer, but we’re very fair about the way we do it 90% of agents are very fair about the way they do it however Just make sure that you do a little bit of research about the agent asked the agent how many of these sales have you done? This is very important Okay you want to make sure if the listing agent that you’re going to you’re gonna cut out another agent and you’re gonna go directly to The listing agent just make sure they have both of the parties interest in mind Okay, which is you and the seller make sense if you guys have any other questions Make sure you ask your agent about that Feel free to ask me but it’s very simple Now when you guys go to work with the buying agent, that buyer’s agents gonna be the one to take you to the property It’s gonna open up the doors. She’s gonna show you around. It’s gonna give you a Give you information about the neighborhood. So that’s what your buying agent typically does So does a listing agent you typically go through a buying agent when you are a buyer Now this is something to know – okay, and this is a disclaimer Okay, there’s going to be some disclaimers throughout this conversation a disclaimer Is that when you’re when you’re working with a buyer’s agent when you’re a buyer you do not pay any fees You do not pay an agent anything for them to be your agent That is the sellers job the sellers job The seller pays the listing agent a percentage of commission that percentage the listing agent Splits with the buyer’s agent. Okay, so you buyers if you’re paying anybody money right now to show you property Stop what you’re doing go contact goods contact the police go contact an attorney Because that is illegal in the United States Okay really important to know so we have the listing agent the buying agent who are the Realtors and then we have this person you guys may have heard of Him that the MLS right? It’s a joke. It’s not really a person but a lot of people go Adrian. Who’s this MLS guy? Who’s this MLS cow? So the MLS is what’s known as the multiple listing services This is where agents go in and they input the listing So the listing agent inputs the listing into the MLS This is where all the agents can see which properties are for sale. Follow me now Here’s the thing guys. A lot of you are looking on Zillow redfin realtor.com. Those sites are great But the problem is is that those sites indicate with the MLS So when those sites syndicate with the MLS, you need to understand that a lot of agents Okay, this is really important. A lot of agents do not have their syndication go to the other sites for whatever reason Okay that it’s their own preference So there may be properties that hit the MLS that do not hit Zillow Redfin or realtor.com So as a home buyer, make sure you’re getting a list of properties that are for sale from the MLS Cool, awesome. So that’s the MLS Now number four is escrow now depending on the state that you’re in you may not have an escrow You have an attorney or title which will talk about title. You have an attorney or title who’s involved in the transaction? They act as escrow so you guys escrow is in essence There’s a middle person between the seller and the buyer The middle person between the home that you’re buying in yourself. They’re going to do all the paperwork They’re gonna do all the due diligence They’re gonna make sure that everything is done correctly the paperwork titles checked off the loans checked off They’re they work with everybody else Okay they work with the lender the the Bliss team agent the buying agent title and they’ve they’re what they are the ones that Facilitate all of the paperwork. Does that make sense? So they’re they’re escrow now escrow You’re also going to do you’re gonna hear from escrow throughout the transaction If you’re in a different state understand, you’ll hear from an attorney or you’re hear from title. Cool now the fifth person that we have and I personally believe the fifth Professional in this whole lineup is the most important Professional and you guys I want you to highlight this one because this is an important one. Your fifth professional is your later Yes This is the person where you’re going to get your loan from So think about this you have the listing agent the buying agent you have the MLS and escrow all of them do not control How much you’re gonna be paying out every single month all of them do not do not dictate your loan over the next thirty years the lender does so the lender is the most important person throughout this transaction So ensure that the lender you choose breaks down all of your costs breaks down your different down payment options Breaks down everything and really teaches us especially you first-time homebuyers or you VA buyers, really? influences you on what you need to know empowers you and gives you the knowledge that you need to know as a homebuyer to Understand the loan process and what you’re getting into what your what your mortgage is Is there any PMI you guys may hear PMI principal mortgage insurance? Okay, you typically find those on FHA Transactions. Okay, we’ll talk about that. However, you need to know what all of this stuff is Okay So make sure that the lender you choose is one that’s reputable and most importantly I would go with somebody who you know Who’ve they’ve used before maybe look for some reviews reach out to an agent I know lenders all throughout the world simply send me a direct message and I can connect you with one that has some integrity with one that knows what they’re doing and Most importantly one that’s one that’s able to convey this information in a way that you can understand. Does that make sense guys? Perfect. This is the most important role. Okay. Now number six is title Now who’s title what you guys title is in essence the title company that’s going to secure your deed Okay The the title company is they make sure when you go to Kord on the property you find that they’re gonna make sure that that property you record on has no liens There’s nothing to that property. It’s free and clear. They protect the property They protect the buyer and the property that you’re buying they make sure that you as a buyer you are being protected For this home. So the title company is a very important role guys They’re also going to be the ones that take your deed when it’s time to record They’re gonna take it over to the county recorders office and get that deed recorded. They play a vital role in the transaction Okay. Now as we mentioned number four, sometimes you don’t have escrow you just have title depending on the state Okay, awesome. And then you guys number seven is the other services and in other services you have your termite? Okay, you have your termite inspectors? You have your home inspectors. You may hear of a transaction coordinator This is a major role for a real estate agent. They run all of the transactions, okay? You may need a foundation inspector you may need your contractors your 7-1 guys as all the other professionals that are involved and and the list can go on. Okay These are the ones that you’re gonna be dealing with and hearing from the most Okay, along with your home inspector who plays a vital role also cool. Awesome. So you guys that’s section number one on who’s who?