Twin Cities Real Estate: Home Buying Process
Buying a condo, townhome, or a single-family home in the Twin Cities might seem like a huge undertaking. It’s not something you do every day, so you might not know what to expect. Do not worry. Most buyers don’t. Learning the home buying process can take the mystery out of buying a new home and allow you to approach each step with confidence.
1. Identify your real estate agent and mortgage loan consultant; these professionals will be your guides through the process
2. Get a loan pre-approval; learn your budget and terms
3. Go house-hunting
4. Submit an offer to purchase on the choice property
5. Negotiate the terms & conditions
6. Final Acceptance
7. Private Home Inspection Contingency (if elected)
8. Receive the appraisal and obtain final loan approval
9. If you are in the process of buying a condo or a townhome. You will need to review the Homeowner/Condo Association Document (HOA) – 10 days review period
10. Review all information and remove contingencies if satisfied
11. Property Final Walk-Through
12. Bring Funds to Closing
11. Close on the new home. Congratulations.
As you can see, buying a condo, a townhome, or a home is really a series of small decisions. As long as you continue to find the information you receive acceptable, you will move through the process towards the close. Buying a home is exciting and understanding the process can help you avoid unnecessary stress.
If you are looking for a Minneapolis-St Paul Real Estate Agent, please feel free to contact me at your earliest convenience.
Shannon Lindstrom, REALTOR®, AHWD, GREEN
748 Grand Avenue
St. Paul, MN 55105