Buying a Home

When representing home buyers, our services include:

Assisting in determining the price for which the buyer is qualified
Prioritizing the features, amenities and location of the prospective new home
Showing homes for sale which meet the established criteria
Helping the buyer determine a fair offering price
Preparing and presenting the offer to purchase

The Home Buying Process

Whether you are buying your first home or you have bought several homes in the past, purchasing a home is a major process. Share your needs and desires with us. Make sure we have complete knowledge of your financial capabilities - how much down payment you can afford, your total income, the monthly payment you feel would fit your budget and your past credit history. Restrict this information to the agent you have selected.

The first major step in buying a home is the home search process, which is explained in detail in the next section. During this process, you will select the home you wish to purchase and write a purchase agreement to be presented to the home seller. Preparing a purchase agreement includes a review of the price you would like to offer and the terms you prefer (i.e., the type of financing, possession date, and any other terms and conditions you feel necessary to satisfy your needs). You will read the written purchase agreement and make sure you understand everything it contains. Remember, the purchase agreement is like a blueprint; whatever it shows is the way it will be done. The purchase agreement should not reflect any terms you cannot fulfill. Do not assume anything can be changed or added at a later date.

Once you have drafted and signed a purchase agreement, we will make an appointment to present your offer. The seller(s) have three options: (1) to accept your offer as submitted; (2) reject your offer as unsatisfactory; or (3) prepare a counter offer to submit to you. If a counter offer is submitted to you, it will reflect the needs and wants of the seller(s). Maybe the price you offered was unacceptable to them or the possession date requested by you was not convenient for them. In any case, we will work with you to negotiate a settlement in those areas where there are differences. After all parties sign the agreement, it becomes a binding contract.

Once all parties have accepted the purchase agreement, you will need to seek financing. We can put you in contact with Burnet Home Loans, a full service lender providing a complete line of home loans.

After all the proper arrangements are made, a closing will take place. We will work with many different people and organizations to coordinate the necessary details. The closing generally takes place at the office of the title insurance company, although it could take place in the lender's office or an attorney's office. Burnet Title can make arrangements to close at a location that is most convenient to you if you have special needs.

In addition to the buyer(s), others in attendance will typically include the seller(s), the closer, and probably the agent. It generally takes one to two hours to review and sign all the papers and transfer the title to the property.

The closing should be a happy time for all parties, although it would be quite natural for you to feel some apprehension. It is not unusual for previously overlooked issues to surface during the closing. Should this occur, all parties should seek to be reasonable and discuss the most logical solution to any problems or issues. We can provide useful assistance in these situations.

Once the offer has been accepted, we will assist further in coordinating the details necessary to complete the closing.

Realty Executives Alexandria Home Sales
Alexandria MN 56308
320-763-4255
Fax: 320-763-4383
Each Realty Executives Office Is Independently Owned and Operated
Information in deemed reliable but not guaranteed