Understanding the Minnesota Home Buying Process

When it comes to the home buying process, there's a few important steps you'll need to understand before diving head-first into the market. Such things you'll need to know are:

  • Selecting a Minneapolis-St. Paul Realtor with Experience - Research Realtors beforehand to see how long they've been in the business and check out their customer reviews.
  • Mortgage Pre-Approval - Getting a pre-approved mortgage will lay the foundation in regards to how much you will be loaned to purchase new property.
  • Price Range/Comfort Level - If your mortgage is approved, you can begin looking into the market to see what's out there in regards to what you can comfortably afford.
  • Residential Property Type (single-family home, townhome, or condo) - Depending on your mortgage approval and what you can comfortably afford, it's time to see if you can spot a single-family home, townhome, or condo that suits your interests.
  • Research The Neighborhoods & City - Now that you think you have a property to your liking and affordability, it's time to research the surrounding area. Is it in a neighborhood with other families raising children? Walking neighborhood with restaurants, coffee shops, grocery stores/food co-ops, biking/walking trails?
  • City Inspection -  A number of cities within the Twin Cities metro area require homes to be inspected by a licensed inspector before they are offered for sale or before ownership is transferred.
  • Private Home Inspection - A private home inspection investigates the condition of the home.
  • Closing Costs - You're at the home stretch. These are the fees paid at the end of a real estate transaction.
  • The Final Property Walkthrough - This is the final inspection of the property. If repairs are needed, this is the time to address them.
  • Closing - When the title of the property is conveyed to the buyers. Congrats!

If you are looking for an experienced Twin Cities Real Estate Agent, feel free to contact me today!

RE/MAX Results
Shannon Lindstrom, REALTOR®, AHWD, GREEN
748 Grand Avenue
St. Paul, MN 55105
Direct: 612-616-9714

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