Home Buying Guide for First Time Home Buyers
As you search the listings of houses for sale, finding the right home is not easy. Some buyers are tempted to work with several Realtors. The advantage seems obvious. The more people you have looking, the better chance you'll have of finding the home of your dreams. This, however, is not usually the case. Since you are not committed to one specific real estate agent, you may find that your realtors are not as committed to spending the extra effort on your behalf. A loyal and committed real estate professional to guide you through the buying process will prove invaluable. My advice is to shop for a buyer representative who will get the results you want and then stick with that person exclusively. In the end, you will have a dedicated agent who will personally handle all the details of your upcoming home purchase. If you give your loyalty to one Realtor, you will be rewarded with excellent results. Helping you find your dream home is not the only way to help you. I will be with you every step of the way, from your first search to the day you close the sale and get the keys to your new home.
First Time Home Buyers MN
When you first start searching for your home, the sky is usually the limit. You want walk-in closets, a screened porch, a fireplace, an enclosed backyard, and a Jacuzzi in the master bath. You are buying your dream home, after all. Without balancing those wants with your absolute needs, you may be disappointed, even discouraged, after a few weeks of searching. You may find that the cute, two-story corner has a screened porch but no Jacuzzi and a tiny backyard. Or that the great rambler has a vast backyard but no fireplace. Before you start looking, I will meet with you to determine which features you can't live without. I also make a list of your "wants" in the order of importance. These parameters help narrow the search so you don't waste time touring homes without the amenities that genuinely meet your needs.
Understanding MN Real Estate Property Disclosures
Because I represent you, the buyer, I am committed to serving your best interests throughout the purchase process. This responsibility includes providing you with any positive or negative information about properties you are investigating for purchase.
I will disclose any specifics on:
- Property values
- Offering price
- Negotiations
- Counteroffers
- Contingencies
- Financing
- Closing process
Armed with such valuable details, you can be confident the home you eventually choose will be suitable for you and your family.
Mortgages in MN
One of the most frustrating situations you may face while house hunting is finding your "dream home," negotiating an offer everyone is happy with…and then failing to qualify for the needed financing.
The best way to avoid this disappointment is to pre-qualify a mortgage through a lender. Then you'll know exactly what you can afford, and you can limit your home search to that particular price range.
Prequalification does not mean you are obligated to finance your home through a specific lender. You can still shop for the mortgage deal while you continue house hunting. But it makes sense to start the loan application process as early in your search as possible. The process can be lengthy, with lenders requesting detailed information about your debts, assets, and credit history. By starting early, everything will be in place when you find your dream home.
When it's a seller's market with multiple offers and quick sales, prequalification through a lender is vital. It guarantees the seller that you can afford your request. Prequalification always increases a buyer's standing because the seller has security that the deal will not disintegrate. After all, your financing falls through.
Real Estate Purchase Agreements
So now that we've found the home of your dreams, how do you buy it? There's a lot more to buying a house than just making an offer, and the process can be complex and confusing.
I will prepare the details of your real estate purchase agreement and any necessary appendices including:
- Pricing
- Special assessments and taxes
- Title issues
- Personal property
- Contingencies
- Financing
- Inspections
- Disclosure
- Representation
I will also complete a large volume of paperwork and manage numerous closing activities and procedures. I help guide you through the closing process, and together we handle the following details:
- Loan application
- Conditional approval
- Removal of contingencies
- Final approval
- Closing instructions
- escrow
- Mortgage closing
- Settlement statement
- Appraisal and inspections
- Appraisal and work orders
- Closing schedule
- Final walk-through
- Homeowners insurance
- Title closing
Best MSP Buyers Agents
When working with a real estate agent, you must have complete confidence in that agent's experience and education. I have a proven track record of success and a team of specialists ready and waiting to help you make the real estate purchase that is just right for your unique and specific needs. Let's turn to buy your dream home into a reality. Please take a look through the houses for sale, make a list of a few you would like to see, and give me a call. Your dream home is out there!