Buying a home is one of the biggest investments you will ever make.
The real estate transaction in Minnesota involves a number of steps, I’ve gone ahead and laid out the major components.
Home Buying Process
Buying a home is a huge step whether you are seasoned or first time home buyer. A typical home can close within 30 – 60 days from date of contract written, but it can also take longer or shorter.
- Pre-Qualification is the first step you need think about in your quest to buy a home in the Twin Cities area. There are hundreds of loan officers out there to choose from, make sure you are comfortable with your selection. The process is quick and easy. If you are looking for help, I have some great resources that I hold to the highest standards.
- Finding the right home with the right home search. By using the most complete and robust system, I will search for the right home that fits your needs!
- Once we find the home, the offer is written using the Minnesota Association of Realtor’s approved Purchase Agreement. This shows your willingness to purchase the home along with the earnest money deposit. All the terms are discussed that which both parties agree upon.
- The waiting period… Actually this when tough negotiations take place.
- Congrats, the offer is accepted on everything is off to the title company where the closing will take place.
- The home inspection is the period in the process where a qualified home inspector goes over the home looking for any repairs or defects. You will be provided with a complete report. If there are any repairs or defects that become a problem, this is the buyer’s opportunity to go back to the seller and request repairs. The buyer can also accept the property ‘as is’ or exit the contract unilaterally with the seller without any consequences.
- The next step is the repair period, see #6
- During this period all the t’s are crossed along with i’s being dotted. Your lender will also be hard at work during this time making sure all the loan documents are signed and off to underwriting.
- The final walk through usually happens a day before closing to make sure all the seller’s repairs are good and the home is in the same condition the day you wrote the offer on the property.
- Closing time is where are parties meet at the table. All the documents that you have signed have come into play. They have carefully looked over the title of the property to make sure there are no defects and owner’s warranty can be issued. When all is done, title is recorded at the counting recording office. There it’s all over and you have a new home!
There are obviously a lot more steps to the home buying process. This is were you come to lean and depend on me to make sure the transaction is smooth and as stress free as possible.
A home warranty can protect your investment
Having a home warranty on the property sure makes you sleep good at night. Good ole’ Murphy’s Law always says ‘whatever can go wrong, will go wrong’, even when things are new.
Relocating to the Twin Cities
If you’re relocating to the Twin Cities, we can’t wait to welcome you. By using the latest technology, we can take the stress out of documents being transferred by being paperless.
Contact
If you are ready to get started, just fill out this contact form and you can make an appointment to get together for a chat whether it’s at your current residence, office, or out in the community. You can also pick up the phone and give me a ring at 612-242-7396
