Steps of first-time home buying

Once you have concluded that renting is no lower cost effective, or your needs have changed then it is time to look at what is next.

 

What then?

· Get pre-approved so you know how much you can afford, what your cash out of pocket will be and if that monthly payment is acceptable.

· Find the right real estate agent. In this crazy Minnesota real estate market experience matters. Since the sellers pays the agent’s commission it costs you nothing to work with the best, experienced real estate agent.

· Visit homes with your agent and find one that fits your needs

· Make an offer. Your experienced agent will take you through the process, explain all aspects of the purchase agreement and how to be competitive in your offer amount and terms.

· Get a home inspection. You then know what you are buying and know what future maintenance and expenses you will encounter.

· Mortgage company then will ask for further financial information to complete the loan process and they will order the appraisal.

· Do a final walk-through right before closing to be sure it is in satisfactory condition

· Close with the title company who has all the mortgage required documents.

· Move in! You own a home

I hope this blog about steps of first time homebuying helpful.

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Please reach out to me if you have questions about housing in Minnesota at 612-386-8600.

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Look for more articles and videos in the future on various aspects of real estate and our state of Minnesota.

Real estate is a wonderful investment!

 

Jeff Anderson

The Anderson Team

www.mnrealestate.com

RE/MAX Results

612-386-8600

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