Minneapolis Minnesota Real Estate Blog

1. Don’t Get “Pre-Qualified!

Do you want to get the best house you can for the least amount of money when buying a home in Downtown Minneapolis Minnesota? Next, be sure you are in the optimal position from which to negotiate. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Buyer strength and length of escrow are usually critical to sellers.

In years past, we always recommended that buyers get “pre-qualified” by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller. Sellers are aware that such certificates are WORTHLESS, and here’s why! This information has not been double checked and oftentimes unknown problems surface! Glitches on the credit report due to any number of reasons both accurately and inaccurately, down payments that have not been in the clients’ bank account long enough, etc,some of the problems I’ve seen include recorded judgments, child support payments due.

When you're "pre-approved," your offer is seen as coming from a stronger starting position. This occurs following the verification of all of the details. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. This process takes anywhere from a few minutes to a few days depending on your situation. It’s VERY POWERFUL and a weapon we recommend all our clients have in their negotiating arsenal.

It is an advantage to be a renter when competing with buyers who already own their home because their financing can be dependent on selling their current home. 2. Play the Game of Nines

Before house hunting in the Downtown Minneapolis Minnesota market, make a list of nine things you want in the new place. Think of nine things you don't want in a house, then write them down. I call this “NINE OF THIS AND NONE OF THAT”. You can use this list as a scorecard to rate each property that you see. The one with the biggest score wins! This helps avoid confusion and keeps things in perspective when you’re comparing dozens of homes. When house hunting in the Downtown Minneapolis Minnesota, consider the contrast between something called "SKIN AND BONES". The BONES are things that cannot be changed such as the location, view, size of lot, noise in the area, school district, and floor plan. Easily changed surface finishes like carpet, wallpaper, color, and window coverings,the SKIN represents. Buy the house with good BONES, because the SKIN can always be changed to match your tastes. Think of the house you are viewing as empty, without furniture. Consider each house on its underlying merits, not the seller’s decorating skills. 3. A good agent will show everything available that will meet your requirements. You should not make a decision on a house until you have seen enough to pick the best one. Go to the Multiple Listing computer with your agent to make sure that you are getting a COMPLETE list of homes for sale in Downtown Minneapolis Minnesota and not just the home that the agent "wants" to show you.

In the late 1980’s, homes in Downtown Minneapolis Minnesota Usually a few days after listing,were selling quickly. In that kind of market, agents advised their clients to make an offer ON THE SPOT if they liked the house. At that moment, it was a sage opinion. Only homes that are very under priced, and you'll know the ones that are, usually have this sense of urgency. Remember the dangers of waiting too long; the property could be sold before your bid arrives. If you really like a house, get an offer written and make sure your agent writes in the proper clauses to get you out of the offer.

Let's not forget that when making your consideration, also remember to do research into the SCHOOL DISTRICTS that are located in the same area. For more information about schools in the Downtown Minneapolis Minnesota market you can visit my website at www.MikeWeiland.com. Information is available on every school; such as class sizes, % of students that go on to college, SAT scores, etc.

D. No need to respond to advertising.

Take care - the agents in Downtown Minneapolis Minnesota make the phone ring by creating ads Some of the drawbacks the ad neglects to mention are traffic noise, power lines, and even litigation inside the community. What’s not mentioned in the ad is usually more important than what is. This is why we think it prudent for you to take great care when going over advertisements. Remember that the person writing the ad is representing the seller and not you in most cases! The essential thing for you is to have someone on your side looking out for you. Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about.So whether you decide to work with us or not, pick an agent you feel comfortable with and enlist the services of that agent as a buyer’s broker. Then you become a client with all the rights, benefits, and privileges created by this agency relationship, and you’re no longer just a shopper. Did you know that many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER? People who stick to a sole agent are the ones who find the fantastic deals out there. When an agent hears of a great buy, who do you think he’s going to call? His client, who he has a legal obligation to work hard for you, or someone who just called on the phone and said “keep your eyes open”? To get the most bang for your buck, buy property in the Downtown Minneapolis Minnesota Our highest recommendation is find yourself an agent you're comfortable with and stick with him or her for all your real estate market needs.

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis Minnesota real estate. To obtain full details about the Downtown Minneapolis Minnesota real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Downtown Minneapolis Minnesota property So please feel free to contact me, Mike Weiland with the Weiland Group of Edina Realty with any of your real estate or mortgage questions and I will me more than glad to answer your questions. Call me on my cell at 612-735-6834 or email me at mike@mikeweiland.com.

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