Looking For A New Home?

There's nothing we take more seriously than helping people find new homes they love. That's why we have access to the Multiple Listing Service (MLS), keeping you informed of new listings from any participant of the Regional MLS of Minnesota. We'll also spend time understanding your personal real estate needs, based on the following criteria:

• Your preferred price range
• What style of home you want
• What area(s) in which you want to look
• What extras you would like
• How much of a home loan (if applicable) 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

Pre-Approval For Your Home Loan

Getting a pre-approved home loan is a great way to get started. With your approval, you will be in a better position to negotiate with sellers. You will also be able to close on a property quicker than other buyers. This shows the seller how serious you are about the property, and it will make the seller more comfortable working with you. In a "seller's market," or where supplies are limited, a pre-approved mortgage is essential.

If you decide to apply for a mortgage, you will need to supply information in regards to your income, expenses, and obligations. For a full list of the items you need to bring, please contact us. Got bad credit? That's okay. Many lenders will help you find a solution to your credit problems. We work with various mortgage companies that can help you.

Pre-approval uses basic information as well as electronic credit reporting. It is a true home loan commitment, which means a commitment to financing your home and an indication of the total mortgage amount available to you. Pre-qualification is an estimate of what you can afford. When you pre-qualify for a mortgage, the lender collects basic information regarding your income, monthly debt, credit history and assets, and then calculates an estimated home loan amount for which you might be approved if all details and background information are verified.

Foreclosure & Short Sales

The unfortunate growth of foreclosures and short sales (i.e., lender-mediated properties) has had substantial effects on the Twin Cities housing market. Foreclosures are properties in which the financial institution has repossessed the home from the owner due to nonpayment of mortgage obligations. Short sales are unique arrangements where the financial institution and in-default homeowner work together in an attempt to sell the home before it is foreclosed upon. This lender-mediated activity has significantly different effects than traditional real estate because a lender is intimately involved in the transaction—either by acting as the current owner/seller in the case of a foreclosure or as a less-direct intermediary with approval powers in the case of a short sale.

- Information Courtesy of the Minneapolis Area Association of Realtors

If you are considering the purchase of a foreclosed or short sale property, you should consider consulting with one of our experienced real estate professionals to help guide you through these often troubled waters. We have many Certified Distressed Property Experts (CDPE) on our roster, as well as Short Sale Foreclosure Resource (SFR) designated associates.

Evaluating Possible Homes - Making Your Offer - The Negotiation

We will help you through the evaluation of those that we show you, the financing options available (and acceptable), estimate your costs associated with a specific purchase, prepare and present your offer, and negotiate the sale.

Elements of the negotiation include knowledge of how long the home has been on the market, price reduction history, other offers in play or rejected, what personal property is included or negotiable with the sale, acceptable possession date, whether a relocation company is involved or not (just who owns the home, anyway?), comparables sold in the area and average time on the market.

The Home Inspection

A home inspection is a visual analysis and unbiased opinion of the existing physical condition of the home. It provides no projection of future performance of materials or systems within the home. The inspection lasts two to four hours and includes the house and garage, fixtures and appliances included in the purchase, and results in a written report to document the findings. Specifically excluded are personal property, swimming pools and hot tubs, recreational facilities, fences, cosmetic conditions (carpet, vinyl, paint, wallpaper, drapes), outbuildings, environmental issues and testing, insect and rodent infestation. The price varies depending upon the size and style of the home. You can generally expect the cost to be in the $275.00 to $400.00 range and you must pay the inspector on-site to receive your written report. Additional testing such as lead, radon, moisture/mold, etc. can also be arranged to be a part of the inspection process.

Understanding Agency Relationships - It's The Law

MINNESOTA LAW requires that early in any relationship, real estate brokers or real estate salespersons discuss with consumers what type of agency representation or relationship they desire.  Click HERE for an overview of the types of agency relationships within the State of Minnesota.