LOOKING FOR A NEW HOME?

There's nothing we take more seriously than helping people find new homes they love. We'll also spend time learning your personal real estate needs, based on:

• Your preferred price range                                                                                  
• What style of home you want
• What area(s) you want to look in
• What extras you would like
• Determine what you will qualify for
• Your preferred down payment
• Your preferred monthly payment
• Which types of finance are best for you
• How you can get a mortgage

YOUR RELATIONSHIP WITH A REALTOR

As your buyers agent, we will listen to your needs and identify homes currently on the market (you may like to start by clicking on 'Property Search' and you can view all available homes for sale from the MLS listings, based on the criteria you select). We will set up showings and visit the homes with you. When you find the right home, we will prepare the paperwork and work with you to negotiate a fair price. You pay nothing extra to have us represent you and work for you. We are paid by the sellers agent at the closing of the purchase of your home.

MINNESOTA LAW requires that early in any relationship, real estate brokers or salespersons discuss with consumers what type of agency representation or relationship they desire.

Click http://www.action-homes.com/files/AgencyRelationships.pdf for a thorough overview of the types of agency relationships within the State of Minnesota.

WHAT'S NEXT?

If you haven't already done so, you will need to meet with a mortgage company to determine how much money you are eligible to borrow. They will need pay stubs, two years W-2's and recent bank statements. They can provide a pre-approval letter that will assure a home seller you are a credible buyer. Let us know if you need us to refer a mortgage company to you. We have found Bell Mortgage's Kathy Harrison has done a good job for our clients. Contact Kathy at 952-278-8708 for assistance. 
Once you are pre-approved we will discuss your housing needs including: price, style, number of bedrooms and bathrooms, and the locations you would like to live. When we locate a home you like we will fill out a purchase agreement and related documents. At this time you will need to write an "earnest money" check (usually about 1% of the selling price and credited toward purchase price) to be submitted with the purchase agreement. Your offer is then presented to the seller who will either accept, reject or counter your offer. If the sellers counter your offer you can accept their counter-offer, decline, or counter the sellers counter offer.
When your offer is accepted we set up a home inspection (if you request & at additional cost), an appraisal, and the mortgage company starts the final approval process. A closing* date is set (usually four or more weeks later) and then you move into your new home!

*Closing is the final step in buying or selling a home. This is when papers are signed and money exchanged. Closing costs refers to a variety of items paid at closing. The home buyer and seller each have different closing costs. The buyers side is typically about 2.5-3% of the sale price to cover title insurance, recording fees, mortgage registration tax, closing fee, loan origination fee, credit report fee, appraisal fee, discount points, homeowners insurance, interest, escrow for insurance and taxes among others. This may seem overwhelming, but we will explain in detail and suggest possible options available to you (such as seller paying).
The benefits of home ownership are many including possible tax advantages, home value appreciation, and pride of ownership. Let us help you make your dream come true. We are always ready to assist you and welcome your questions.
The Winships