A Minnesota realtor is able to provide you with the
assistance that you need when searching for your first home. Attempting to buy a home without professional
help can lead to many missed opportunities.
This is why so many people turn to a Minnesota real estate agent for the
right support.
Get Prequalified
In order to submit a bid on a home, you will need to have a
prequalification letter. Many sellers
will not entertain an offer unless a contract is accompanied by this
document. You can ask your Minnesota
real estate agent if they can refer you to a loan company in order to make the
process easier.
Obtaining a prequalification letter allows you to know your
loan limits, interest rate and expected monthly mortgage payment. This is pertinent data that aids in a home
search.
Make a List of Your
Needs
Depending on your particular budget, you will want to make a
list of the essential features that you are looking for in a home. You should take the time to distinguish
between wants and needs, so that you can stay within your budget and to find a
home within a reasonable amount of time.
You will have to decide on the:
- · Number of bedrooms
- · Number of floors
- · Number of bathrooms
- · Garage/Parking
- · Full/Partial Basement
- · Yard Size
- · Age of the home
- · Kitchen Amenities
Don't forget that this is your first home and will not
likely be your last. It is perfectly
normal to purchase a home that doesn't meet your every need. You can either remodel the home or buy a new
house at a later point in time.
Performing a Home Search
Once you have determined your needs, you can give them to
your Minnesota realtor to begin the home search. Your Minnesota real estate agent will present
you with available properties that match your
- · Budget,
- · Home Features, and
- · Targeted Area
Your Minnesota real estate agent will set up all of the
necessary appointments for the properties that you would like to view. A Minnesota realtor is also able to assist
you in acquiring additional information that you would not be able to find on
your own.
Placing an Offer
Once you have found your ideal first home, you should place
your offer as quickly as possible. The
longer you wait, the less likely it will remain on the market. A Minnesota real estate agent will be able to
tell you how many days it has been listed, so that it can help you decide what
you would like to offer for the property.
Your Minnesota realtor will present the offer to the seller and handle
any necessary negotiations on your behalf.
Closing the Deal
When a seller accepts your contract, you will be able to
move forward with the real estate closing.
Your Minnesota realtor can also refer you to a reliable attorney that
will handle the entire closing from start to finish. A typical home takes about 60 days to
close. Once you near the closing date,
you can begin to make your moving arrangements and address changes so that you
can move into your first home. This is
all made possible with the assistance of a Minnesota real estate agent.
