By Robert Lalicki

Bringing up the "M" word
Whether you are buying or selling a home, first and foremost get pre-approved for your new mortgage. Experience is everything. Knowledge is power and common sense is still your best bet. When searching for a new loan, interview at least three home loan consultants. Getting the lowest rate on a mortgage sounds like the logical thing to do, doesn't it? Consider the following: Does the loan officer have experience? Is he or she really knowledgeable? Ask how long they have been in the business of originating mortgage loans. How long has that mortgage company been in business? Unlike realtors, home loan consultants are not licensed by the state so choose gay but choose wisely.
Once you've been pre-approved for your new mortgage, the interview process is not over. There are many reputable realtors who will do a fine job for you. If you're finding it difficult to decide whom to work with, ask friends who have recently purchased a home if they would recommend their realtor. You need to feel comfortable with your choice.
Keep in mind you will be spending quite a bit of time with this person and communication is key. Be specific. Make sure your lgbt realtor knows what your requirements in a home are. Pre-screen the listings the realtor prints out from the multiple listing service they subscribe to. Only see the homes you want to see, not the ones the realtor wants to show you, unless they have personally viewed the property and know firsthand that it would be worth your while. Don't waste your time or theirs. Move on to other listings.
Title choice, wills, key for same-sex couples
Once you find the home of your choice make sure you request the title of the home be issued as "joint tenants with full rights of survivorship and its entireties" if you are purchasing as a couple. Do not allow the realtor or title company to issue the title as "tenants in Common". Titles issued in this manner to couples purchasing together states that when either one of the owners dies, the deceased owner's estate inherits the interest in the property. This may result in the other owner now being forced to deal with a stranger or even an enemy in some strained families. That family member could even inherit belongings the couple have together, which is why you want to title the home properly to begin with, saving the surviving owner unnecessary stress and strain.
Before you sign your closing paperwork taking ownership of your new home, consider getting a will drawn up by an attorney. If you currently have a will, get it updated before closing. Don't be like Anna Nicole Smith. Not updating your will can be equally as devastating as not having one to begin with. If you fail to plan, you plan to fail right off the bat.
Insuring your home and belongings
One last thing: Shop for home owner's insurance. Start with your auto insurance agent.
Some insurance agencies offer discounts if you have more than one policy with that company. Always get more than one quote. Getting the lowest annual premium doesn't always mean getting the best coverage. Shop and compare. It will save you more in the long run. What if you buy a home without your partner on the mortgage? The insurance can only be in the owner's name. The homeowner's insurance only protects the person on the policy and the owner's belongings, not the other partner. The partner who isn't on the policy needs to take out a renter's policy. Their belongings will be covered especially in the case of a loss of use due to natural disaster or fire. For more information or questions on insurance, talk with your agent before purchasing your policy.
Did you know you could request copies of the owner's utility bills before you purchase a previously used home? That would help prepare you for the winter months ahead. If you have any questions, feel free to email or call me. With over twenty years in the field of finance, I am more than happy to help make your home buying experience a positive one.
