Buying a Home

Minnesota Home Buying Process

December 22, 2023


Choose a Realtor

When choosing a licensed real estate agent to represent you it is important to have someone who is knowledgeable in the market, as well as someone who you believe will represent your best interests.


Initial Conversation

This is where we get to know you and your goals. We can meet in person, talk on the phone, or video chat!


Know the Neighborhoods and Marketplace

Our agents can personally take you to some neighborhoods of interest and give you an overview of the area.


Pre-Approval and Budgeting

How much can you afford and how much of that would you like to spend? If not purchasing with cash you will want to obtain a Pre-Approval Letter from a lender. The last thing you want is to find the home of your dreams and realize that you are not able to afford it.


Find a Home

This is the fun part and the part everyone envisions when thinking about buying a home. The home search process can be fun but can be daunting without completing the prior steps. Once you find a home that you love make sure to review any and all disclosures, inspection reports, and even check with the city for any and all permits that were taken out on the property.


Write an Offer

With your direction, we will craft an offer and negotiate the best terms on your behalf.


Home Inspections (Optional)

If the offer contains an inspection contingency (which we recommend) this would be the next step. You will receive a written report about all the defects and potential issues with the property.


Final Negotiations

Armed with all the information about the property, we will negotiate the best offer on your behalf.


Home Appraisal (Optional)

If securing financing, the lender will require an appraisal of the property. The appraisal is a tool to make sure that there is enough collateral to support the loan.



You need to choose an insurance company to insure the home. You should be calling around to make sure you get the best deal.


Final Underwriting (Optional)

If obtaining financing, the underwriter will usually require additional documentation such as updated bank statements or additional documentation prior to issuing “Clear to Close.”


Closing Disclosure

Once you are clear to close, the title company will create a document called the Closing Disclosure which must be given to you at least three days prior to closing.



A week or so before closing we will provide you with the utility providers for the property. It is recommended that these are set up in advance so that you have utilities on the move-in date.


Final Walkthrough

Usually as soon before closing as possible, ideally the day of closing, we will coordinate a final walkthrough of the property to make sure that the condition is what you expect.


Closing Day

Congratulations! You have made it to closing, this process usually takes about an hour. Make sure to bring your cashier’s check for the down payment plus closing costs as well as a valid photo ID.


After Closing

Thank you for your business! Our services never stop and we aim to become your trusted real estate advisors for life. We would love for you to write us a review on Google detailing your experience with us. We would be very grateful for any referrals, as they are the highest compliment.

Minneapolis Skyline

Minnesota’s Most Knowledgeable Buyer’s Agents

If you are in the market to purchase a home for the first time, or are an existing homeowner and looking for something different, contact our experienced buyer’s agents today!

WRITTEN BY: Alex Schwartz

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Lake State Realty & Appraisal