Minneapolis Minnesota Real Estate Blog

A Timeline for Buying a condo in Downtown Minneapolis: What Should Be Done And When.

Note: To find the best deals on Downtown Minneapolis condos as well as insider information about privately available condos, click here!

One of the most confusing things about a condo buying is what you are supposed to do and when. It can be difficult to pinpoint an exact time-frame for condo buying since it can vary depending on the Downtown Minneapolis market. Generally, you can expect it to take about 3 to 4 months to find your dream condo in Downtown Minneapolis. This timeline is based on that time frame.

Three Months

Come up with a checklist of things tasks to be completed in the condo buying process. This checklist should include all the steps you need to take from educating yourself about the real estate transaction to shopping for the condo to the closing. The checklist will serve as your guide throughout the condo buying process.

Get pre-approved for a mortgage. This will give you a price range to work with throughout the condo buying process. Make sure that you are getting pre-approved and not pre-qualified.

Start shopping for a real estate agent to assist your condo buying. Real estate agents can be invaluable when looking for your condo, we will help in letting you know what the next step in the buying process is, and what you need to do so that you can be in your dream condo as soon as possible. Feel free to visit me at my website to learn what you need to do to start finding you perfect condo in Downtown Minneapolis

Come up with a list of things you need and want from a condo. Your real estate agent will be able to help you find condos that fall within your criteria. This is a very important step because with a solid idea of what you want in a condo I will be able to show you only condos that you are truly interested in instead of having to wade through the thousands of condos in Downtown Minneapolis that don't quite fit your criteria.

Two Months

Evaluate the condos in Downtown Minneapolis that you are considering. Work with your real estate agent to come up with a method to scorecard or analyze the condos that you are strongly thinking about purchasing.

Decide which condo you would like to purchase. Make an offer to the seller on the condo. Once you make an offer it is wise to stop shopping around for condos. The worst thing that can happen is that you find a condo you think you like better than the one you've made an offer on.

Once the seller has accepted your offer and you have signed the sales contract, have the condo inspection completed.

Make arrangements for the closing.

Six Weeks

Purchase condoowners insurance and provide proof of the policy to your lender. This must be done prior to closing.

Make your moving arrangements. This can be an exiting experience especially since you are moving to Downtown Minneapolis don't forget to enjoy it.

If necessary, begin the process for school transfers or registration.

Four Weeks

Alert necessary parties of your change in address. You can also have your mail forwarded through the postal service by putting in a request at your local post office.

Make arrangements for utilities at your new condo. If you will be working with the same providers you can simply put in a request to have your services transferred at a certain date.

Two Weeks

If you are having your items professionally moved, verify the arrangements with your mover.

Check with your lender to finalize the mortgage for the condo buying process.

Pack your belongings unless you have arranged a full pack and move with the mover.

Closing Date

Bring your driver's license for identification purposes. Your down payment is due at this time. Also bring any condo buying closing costs that you are responsible for paying.

Keep in mind that this is a general condo buying timeline. You can adjust the time depending on how long it takes you to find a condo you like.

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis Condos or Minneapolis Lofts. For complete information about the Downtown Minneapolis Condo market including current Minneapolis condos for sale, values, and more please visit the most complete website online dedicated to everything Downtown Minneapolis Condos at www.LivingInDowntownMinneapolis.com. Contact me, Mike Weiland with Edina Realty with any of your condo or mortgage related questions today. Call 612-735-6834 or email mike@mikeweiland.com.

P.S. To find the best deals on Downtown Minneapolis condos as well as insider information about privately available condos, click here!