Buying a home is an exciting time in one's life. Making the smart move of choosing a REALTOR® is your first step to ensuring that your new home and community meets your needs. My services and experience range from helping you find the right financial fit to helping you locate the home that best suits you and your family. For your convenience, I also provide listings by email. 

How I Can Help	Title Insurance	Property Taxes
Before you start looking	Home Inspections	Important Phone Numbers
Buying in Minneapolis	Home Warranty	Buying vs. Renting
	Truth in Housing

As Your Agent, I promise to:

• Assure that you see all the properties in the area that meet your criteria.
• Guide you through the entire home buying process, from finding homes to look at, to getting the best financing.
• Make sure you don't pay too much for your new home and help you avoid costly mistakes.
• Answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.

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3 Easy Steps to do Before House Hunting

1. Determine your Buying Power - Speak to a mortgage lender to determine a loan that fits your needs. Knowing a little about your loan options before you do this can make the process much less stressful. Think about the loan term you would like, 30 yr or 15 yr? A 30 year loan is easier to pay off financially because your loan payments are less, but remember a 15 year loan, which will cost more monthly now, can actually mean you pay half of what it would cost with a 30 yr.  Further, think about how much of a down payment you would like and how long you will be planning on living in the home. Most importantly, make sure when calculating your costs to include insurance, taxes, maintenance costs, and association fees. Doing so will give you a realistic price of the home you can afford.
2. Go Shopping....for a loan - It is extremely important to take care of all financial data before even looking at a home. Do this by speaking with your Bank, a mortgage broker, or an online broker. Banks can be great to use, especially if you have credit history with them. The process can be simple, but banks tend to have more "rules" when lending out their money. Mortgage brokers shop around for the best loan according to your needs and can save you money. Online lenders can qualify you quickly, but tend to not be the best option for a new home loan. The process might be cheap, but it can cause many headaches on the way to closing. Most importantly, don't let interests rates be the driving force to your final decision. Consider closing costs, APR, possible penalties, additional lender fees, and Points. A great interest rate doesn't mean much when you have to pay thousands up front to obtain the loan.
3. Get Pre-Approved - In today's real estate world, just being Pre-Qualified is not enough. Home owners are demanding buyers take the loan process further by getting pre-approved. Lenders actually look at proof of employment, assets, liabilities, loans, tax returns etc, and determine the available loan amount from the information. This valuable process can be the difference between your offer getting accepted over another.
   

Before You Start Looking For Your New Home:

• Check your credit rating. Straighten out any errors before its too late.
• Find a loan program that meets your needs and get pre-qualified (preferably pre-approved).
• Choose a REALTOR® that you trust and who understands your needs.
• Determine what neighborhood best matches your needs.
• Identify important features you need your new home to have.

Find out how much your closing costs could be.

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Buying In Minneapolis and surrounding areas.

Do I need a purchase agreement to buy a home in Minnesota?

The most important document in the transaction when buying a home in Minnesota is the purchase agreement. This document spells out all the terms agreed upon by the seller and buyer. Futher more, to make any real estate transaction enforceable, it must be in writing. To protect yourself and reduce any confusion, demand that every term be written out and signed by both parties. While the best intentions might be intended, verbal agreements are a bad idea.

Do we close with an attorney or title company in the state of Minnesota?

Almost all real estate transactions in Minnesota are closed at a title company and do so with no problems. It is not discouraged to seek legal advise, but it is recommended to speak with an attorney before any documents are signed. After the terms are agreed upon by both parties, it is extremely difficult to change provisions at a later time. If however you feel that something is not being handled well, please to not hesitate to speak with an attorney, as the title company and mortgage company cannot answer any legal questions. If you close on the property before resolving any problems, Minnesota law states that you most likely will have waived any rights to a remedy.

What are the most common contingencies in a purchase agreement?

• Financing - the buyer will need to find a loan with-in 30 days of signing a purchase agreement. However most sellers require the buyer to be pre-approved before submitting any offers.
• Home Inspection - almost all contracts today are contingent on a home inspection. The buyer will have so many days to complete the inspection by a licensed home inspector and then negotiate with the seller on repairs to be made to "warranted items".
• Sale of other Property - Gone are the days of homes selling in a matter of hours. Many buyers must sell their current property in order to finance the next one. Sellers are now embracing this contingency because homes are taking upwards of 180 days to sell.
• 48-Hour Right of Refusal - usually placed on a contract anytime the sale of other property contingency is incorporated into offer. This gives the seller some protection when pulling their home off the market by accepting back up offers. The buyer is given 48 hours from presentation of a back up offer to decide if they can proceed to closing, removing all contingencies, or withdrawn from the contract.

What other addendums are included when buying in Minnesota?

• Well or septic tank disclosures
• Sellers Property Disclosure
• Lead based Paint Disclosure (home built 1978 or earlier)
• Arbitration Disclosure

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Title Insurance

Buying a home or condo can be a tricky process. One of the unforseen costs first time buyers may not expect is title insurance. In many cases, borrowers cannot obtain a loan without title insurance.

What Is Title Insurance?
Title Insurance insures owners that they are acquiring marketable title to the property. Unlike casualty insurance policies which insure against future events, title insurance is designed to eliminate risk or loss caused by title defects from past events. Title insurance provides coverage only for title problems that were in existence at the time the policy was issued.

A title insurance policy is a contract of indemnity that guarantees that the title is as reported. If it isn't, and the owner is damaged at a later date, the title policy covers the insured for loss up to the face amount of the policy.

What Is A Title Search?
Issuing a title insurance policy is an extensive and exacting process. Title insurance companies work to eliminate risks by performing a painstaking search of the public records, or the title company's own "plant", where public records, laws, and court decisions pertaining to the property and the parties to the escrow are maintained. This is done to determine the current recorded ownership, recorded liens or encumbrances, and other matters of record which could affect the title to the property. Once a title search is complete, the title company issues a Preliminary Title Report detailing the current status of title.

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Inspecting your future home before closing.

Almost all real estate agents will recommend to a buyer that they hire a licensed home inspector to thoroghly investigate the property they intend to purchase. However not all buyers elect to have one completed. But seeing as your purchase is one of the largest investments you will ever make, why not spend a little extra money to ensure your investment is a sound one. The home inspector will look at the plumbing, electrical, heating and air conditioning, appliances, roof, exterior, interior, and the basement.

New Construction Inspection - most buyers do not realize that even when buying a new home, it is extremely important to continually have a licensed inspector monitor the construction process. Sadly, with the rapid growth and expansion of new developments, sometimes the need to build the house quickly takes precedent over the quality of construction. Do not feel intimidated by the builder when he tries to tell you a home inspection is not needed...at most be even more cautious. It is your right .

Buyer's Property Inspection - the most common inspection used when purchasing residential, commercial, or condominium properties. Take a few recommendations on local inspectors from your real estate agent. By hiring a licensed inspector, you can have peace of mind from his findings that you did everything possible in making a good decision on your purchase. Also, make sure you attend the inspection. He will point out any areas of concern and answer questions you might have about the home. Copies of the report will be given to you, your real estate agent, and the seller, with negotiations on any repairs to follow.

Truth-in-Housing Inspection- also known as Point-of-Sale or Code Compliance Inspections, these inspections are required by some cities, in addition to a buyer's home inspection. The main purpose of the inspection is to identify any code violations or hazards and to make sure the minimum building standards are being met. It is not an in-depth report into warranted items. Check with your real estate agent if the municipality you are purchasing requires this inspection.

Mold Inspection - one of the most mis-understood inspections available. It is your right to have a mold inspection performed on your future home, especially if it is an older home and has a basement. Many owners have converted their basements to livable space and might have unknowingly covered up mold that could be dangerous to your health.

If you would like more information on mold, please visit the EPA mold brochure at:  http://www.epa.gov/iaq/molds/moldguide.html

Important Notice : Inspection Report Not A Repair List For Seller

Your home inspector does a thorough job and has noted some serious or not so serious problems with the property.  But the seller refuses to fix anything. Is the seller responsible to make these repairs? Were you under the impression that the sellers must repair the problems discovered by home inspectors?

This is a common misunderstanding about the purpose of a home inspection. People often view an inspection report as a mandatory repair list for the seller. The fact is sellers are not required to produce a flawless house. They have no such obligation by law or by contract.

With a home inspection, most repairs are subject to negotiation between the parties of a sale. Typically, buyers will request that various conditions be repaired before the close of escrow, and sellers will usually ok some of these demands. But with most building defects, sellers make repairs as a matter of choice, not obligation; to foster good will or to facilitate consummation of the sale. There are, of course, those few rigid sellers who will flatly refuse to fix anything, even at the risk of losing the sale. Fortunately, this response is the exception, rather than the rule.

Sellers maintain the legal right to refuse repair demands, except where requirements are set forth by state law, local ordinance, or the real estate purchase contract. Contracts usually stipulate that fixtures be in working condition at the close of escrow, that windows not be broken, and that there be no existing leaks in the roof or plumbing.

Before you make any demands of the seller, try to evaluate the inspection report with an eye toward problems of greatest significance. Look for conditions which compromise health and safety or involve active leakage. Most sellers will address problems affecting sensitive areas such as the roof, fireplace, gas burning fixtures, or electrical wiring.

Routine maintenance items warrant a lesser degree of concern and should not be pressed upon the seller. If the house is not brand new, it is unreasonable to boldly insist upon correction of all defects. Such demands can alienate the seller and kill the sale. Your willingness to accept minor problems may persuade a seller to correct conditions of greater substance.

The purpose of a home inspection is not to corner the seller with a repair list. The primary objective is to know what you are buying before you buy it. All homes have defects; it's not possible to acquire one that is perfect. What you want is a working knowledge of significant defects before you close escrow. As the old sea captain once told me: 'It doesn't matter if your boat has a leak, as long as you know it's leaking.

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Important Relocation Phone Numbers           

                                                                    

Electric Companies			Telephone Providers
Anoka Electric	763-323-2630		Frontier	800-483-4400
Dakota Electric	952-463-7134		Scott / Rice	952-447-2172
Excel Energy	800-895-4999		Qwest	800-244-1111
Frontier Electric	800-483-4400
Cable			Sporting Events
Jones	763-682-5980		U of M Athletics	612-624-8080
Mediacom	800-332-0245		MN Wild Hockey	651-222-WILD
ATT	651-222-3333		Twins Baseball	612-375-1366
US Cable	800-421-9743		Vikings Football	612-333-8828
Time Warner	612-522-2000		St Paul Saints	651-644-6659
Outdoor Recreation			Other useful Numbers
Minnesota Zoo	952-431-9500		Better Business Bureau	651-699-1111
Fishing / Hunting	651-296-5029		Star Tribune News	612-673-4343
Valley Fair	952-445-7600		Pioneer Press News	651-222-5011
MPLS Parks	612-661-4875		Road Conditions	800-542-0220
St Paul Parks	651-266-6400		MPLS Chamber of Commerce	612-370-9100
			St Paul Chamber of Commerce	651-223-5000
Government
Drivers License	612-348-8240
Voter Register	612-348-5151

 

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