Buying Your Home
We are advisors that Deliver peace of mind!
- We want to know you! We listen to identify and understand your needs.
- Every detail important to you, is important to us.
- We are available to show homes according to your schedule.
- We will answer all your questions about the market and purchase process.
- We promise to be honest and will set realistic expectations.
- We will provide valuable insight relevant to your needs.
- We go to bat for you! We negotiate on your behalf to get the best value that meets your timeline.
- Our full-time transaction coordinator tracks progress throughout for a successful closing.
We are committed to providing you with exemplary personalized service beyond your expectations!
STEP 2: Get Loan Pre-Approval
STEP 3: Begin Your Home Search
STEP 4: Write Purchase Agreement
STEP 5: Inspection
If the terms of your Purchase Agreement warrant a Home Inspection…
- Our team will help arrange for a licensed Home Inspector to visit the property as soon as possible.
- You are encouraged to attend the inspection appointment at the property along with our team member.
- You pay for the inspection as soon as the report is ready, prior to closing.
- Together we will go over the inspector’s report and determine if anything need to be addressed.
- We will write an Amendment to the Purchase Agreement listing any new terms resulting from the inspection.
- With the Seller’s agreement to the new terms, the Inspection Contingency is removed from the Purchase Agreement.
STEP 6: Appraisal
The purpose of an Appraisal is for your lender to receive a neutral opinion of the current Market Value for the property being mortgaged. The lender will order an appraisal to be completed on your behalf by a licensed Real Estate Appraiser, and it will be paid for as part of your Closing Costs. We will know the appraised value of the property approximately two weeks prior to closing, and you will receive a copy of the Appraiser’s report.
- Market Value: Also known as the Real/Fair or Appraised Value, it is an opinion of what a property would sell for in a competitive market based on the features and benefits of that property (the value), the overall real estate market, supply and demand, and what other similar properties have sold for in the same condition.
- Market Price: What a willing, ready and bank-qualified buyer will pay for a property and what the seller will accept for it. The transaction that takes place determines the Market Price, which will then influence the Market Value of future sales. Price is determined by local supply and demand, the property’s condition and what other similar properties have sold for without adding in the value component.
- Assessed Value: Assigned to real estate for property tax purposes. A county or municipal Assessor determines the assessed value taking into consideration comparable home sales, location, and other factors. Assessed Value is not the same as Appraised Value, but is often based on a percentage of it.
STEP 7: Title Commitment
Your mortgage lender orders a title exam of the property from the title company or real estate attorney of your choosing. The purpose is to look at records pertaining to the history of the property and determine if there might be any future problems. Once the exam is completed, a Title Commitment is drafted and the Seller is required to resolve all issues found in order to complete their sale.
Some common issues are:
- Liens placed on the property by banks or creditors, unpaid contractors, the government, etc.
- Vested interest in the property from other parties
- Encroachments over property lines
- Errors in previous transfers of ownership
- Special situational requirements that need to be met
The “commitment” is that your title company or real estate attorney promises to issue Title Insurance once all issues found in their exam are cleared. Your lender receives their own title insurance for their protection, and you have the option to purchase an Owners Title Policy for your own protection.
STEP 8: Set Up Utilities
Here is a list of the most common services you will need to start on the day of closing…
- Rochester – http://www.incountry.us/DISTeam/Rochester.html
- Byron – http://www.incountry.us/DISTeam/Byron.html
- Goodhue – http://www.incountry.us/DISTeam/Goodhue.html
- Hayfield – https://www.hayfieldmn.com/index.asp?SEC=7B20D8D7-5C37-4531-AD7E-562410491D18&Type=B_DIR
- Kasson – http://www.incountry.us/DISTeam/Kasson.html
- Pine Island – http://www.incountry.us/DISTeam/PineIsland.html
- Saint Charles – http://www.incountry.us/DISTeam/StCharles.html
- Spring Valley – http://www.incountry.us/DISTeam/SpringValley.html
- Stewartville – http://www.incountry.us/DISTeam/Stewartville.html
- Zumbrota – http://www.incountry.us/DISTeam/Zumbrota.html
Some services may not be able to be scheduled to start until the Seller of the property has first scheduled their service to end. Please let us know if you encounter this issue and we can help.
Changing your mailing address is very easy to do, just visit this website: https://moversguide.usps.com/
You do need a credit card in your name to validate the change, and they charge you about $1 to do this. The USPS recommends you schedule forwarding your mail to begin about a week before moving.
STEP 9: Final Walk-through
A Final Walk-through of the property will typically occur on the day of closing just before your signing appointment, or the night before closing day. You’ll meet our team member at your new home and walk through the property together, making sure of several things including…
- The Seller has vacated the property and left it in clean, move-in condition.
- The property appears as you last saw it, and everything is in place according to the Purchase Agreement.
- Any items that were addressed following the inspection have been resolved by the Seller.
Review our Walk-through Checklist (http://www.incountry.us/DISTeam/walk-through.html) for all the items you should be looking for.
STEP 10: Closing!
- We will schedule your signing appointment with the title company or attorney for you. Ideally this will be in the morning, but please keep your schedule free for the entire day of closing and let us know if you will have any time constraints or possible conflicts. Our team will send you a Calendar Invite email once the appointment has been confirmed.
- Any funds that you are bringing for the purchase outside of a mortgage loan need to be in the form of a Cashier’s Check payable to the title company or attorney, or a wire transfer. Sometimes sending a wire transfer or having a cashier’s check issued by your bank can take longer than you might guess, so please contact your bank to find out what its process is to avoid any delays of your purchase.
- It may be useful to bring along your personal checkbook in case the amount needed to close had to be slightly adjusted from the amount on the Cashier’s Check. This would only be for very small adjustments, and the title company will accept your personal check for this purpose only.
- Please be sure to bring a valid Government Photo ID such as a Driver’s License (with renewal/replacement paper if voided), Passport or Military USPIC.
- It is necessary to arrive and check-in at least 5 minutes prior to your appointment time.