We have helped hundreds of families just like yours in purchasing a home. Our goal is always to educate and empower you. With so many things to consider, from market factors to school district ratings, to negotiating the best purchase price, we want you to feel comfortable with the purchasing decision you have made.
We’re here to help you through the exciting but daunting process…and make it as enjoyable an adventure as possible!
Whether you’re buying your first home, moving up, downsizing, relocating or looking at options for aging in place, buying a home is one of the most important purchases you’ll ever make. Whether you’re a first time homebuyer or a seasoned veteran, it’s a time consuming and complicated business.
You probably have many questions about the home buying process. Read some of the most common questions and answers below.
If you are like most buyers, you don’t need a Realtor to find homes for sale… they are available online and you can easily click, email, text or call to set up a showing. What you may not realize is that rather than setting up 10 different appointments to see 10 different properties with 10 different Realtors you can just contact one Realtor to show you all the properties you are interested in seeing, regardless of which company has listed the property or which agent is listed as the contact.
Most buyer Realtor fees are paid by the seller at closing, so working with one Realtor can save you a lot of time and hassle with little or no cost to you.
Also, the listing agent is contracted to represent the seller and is legally obligated to keep the seller’s best interests in mind. As a buyer, it makes sense to have your own agent legally contracted to watch out for you and keep your best interests in mind… and the seller pays for it!
Although 20% down is still the standard for not paying mortgage insurance, you may be surprised at how little cash you need to get a mortgage. Loans are available with as little as 3% down and down payment assistance programs are available with higher income limits than you may think. Bottom line is check with a lender before you start your home search in earnest. Depending on which loan program(s) you use, you may only need about $1,000 of your own money. In our Twin Cities market, you must be pre-approved before making an offer so getting financing pre-approval should be one of your first steps regardless of financing needs. Keep in mind that although your financing and closing costs are due at closing, you will also need some cash along the way… earnest money at time of offer (typically about 1-2% of purchase price that applies to total due at closing)… inspection costs at time of actual inspection after coming to an agreement (estimate $400-$700)… appraisal after inspection (estimate $400-$500)… and of course plan for expenses that go along with home ownership after you close on your new home.
Most people only buy a few homes in their lifetime, Realtors buy and sell homes all the time… they help guide you through the entire process. Some of the things Realtors do include…
Yes, unlike some parts of the country where Realtors can only show their own broker listings, the Twin Cities has broker reciprocity… which means real estate brokers grant permission to display and sell each other’s listings. That means MLS listings from all participating Twin Cities real estate companies are included in our online home search… and we can show and help you buy any of them, whether you find them here, on a sign or ad, on another website, or anywhere else!