Buy With Mary

Buying a home is probably the biggest financial commitment you’ll ever make, but buying a home isn’t just dollars-and-cents investment – it’s an investment in your life. To assist you in the process, Edina Realty has all the home buying products and services you need. And best of all, I’ll be with you every step of the way.

Steps to Buying Your Home

1. Choose a REALTOR®
2. Get Pre – Approved
3. Refine Your Focus
4. View Properties
5. Make an Offer
6. Negotiate Terms
7. Get an Inspection
8. Do a Walkthrough
9. Initiate a Wire Transfer
10. Close

Financing First – Get Prequalified

Talk to a lender—there are many types of mortgages, each with different interest rates and features. A mortgage loan officer from Edina Realty Mortgage, conveniently located in most Edina Realty offices, can help you determine which option is right for you and guide you through the entire loan process. After providing basic information and a credit check, you can obtain a preapproval letter, which indicates the maximum loan amount you could be approved for, giving you an advantage when making an offer on a home. With preapproval, you’ll know your price range and may have an edge over other buyers in competitive situations, plus the assurance of working with Edina Realty Mortgage, a full-service lender.

Writing Your Offer

When you find the right home, I will work diligently to write a purchase agreement and negotiate favorable terms. The purchase agreement, if accepted by both parties, binds the sale and initiates the closing process, detailing the price, closing date, special assessments, property taxes, financing, and included items. After presenting the agreement to the seller, they may accept, reject, or counter. You can then accept, reject, or counter their response. Once an agreement is reached, signatures are collected, and the transaction moves to closing. Offers are “subject to home inspection,” allowing you to review the inspection results before committing. It's wise to have a professional inspect the home’s roof, foundation, mechanicals, and other features after acceptance.

Title Insurance

Buying a home is a significant financial commitment, so safeguard yourself and your investment by opting for an owner’s title insurance policy—over 80% of Americans choose this protection. With a one-time fee paid at closing, an owner’s policy ensures your property rights for as long as you or your heirs own the property. Despite diligent searches, title issues like liens or easements may arise months or years after purchase. While the title insurance required by your lender protects only the lender, owner’s title insurance covers you by covering all attorney’s fees, court costs, and expenses associated with resolving covered claims on your title.

Closing Your Home

What happens during the closing process?

During the closing process, the agent coordinates inspections, collects earnest money, and conducts the final walk-through. The buyer locks in the interest rate, finalizes the loan process, obtains insurance, sets up utilities, arranges funds, and conducts a property walk-through. The mortgage lender verifies employment and funds, orders appraisals and title work, and sends closing documents. The seller addresses inspection contingencies, and title services order and review title commitments, schedule the closing, and prepare documents.

Make Your Move Checklist

1. Arrange for a mover or moving truck – Ask your friends/agent for referrals

2. Get moving supplies – Boxes, tape, labels, packaging materials

3. Change your address – Complete a change of address card at the post office, contact employer, insurance, etc… about your move.

4. Settle financial matters – Close local charge accounts, transfer banks.

5. Cancel and set-up services – Garbage, TV, lawn/snow, cleaning, phone, internet, electrical, gas/fuel, water/sewer

6. Contact schools and day care – Notify of move, request children’s records and transcripts

7. Tie up loose ends – Obtain medical and dental charts and records, get copies of prescriptions.

Mary DuBois Adamek