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 Realtor/Buyer Agent, feel free to contact me today!

Realty Group, Inc.
Shannon Lindstrom, REALTOR®, AHWD, CRS, GREEN
3495 Northdale Blvd NW Ste 200
Minneapolis, MN 55448
Direct: 612-616-9714

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