Buy With Clarity, Not Guesswork
From your first showing to the final walkthrough, Melissa helps you understand the property, protect your money and make a decision you can live with.
Start With a Plan That Fits Your Real Life
A successful home search begins before the first showing. Melissa helps buyers define the numbers, priorities and locations that make sense for the way they actually live.
- Establish a comfortable monthly-payment range with a qualified lender
- Obtain a current preapproval or prepare proof of funds
- Account for closing costs, moving expenses and post-closing reserves
- Separate true needs from preferences
- Consider commute, lifestyle, maintenance and long-term plans
- Identify questions before falling in love with a property
Preapproval, Payment & Stability
These three steps set you up for a smooth transaction from the start.
Get Pre-Approved Before Scheduling Showings
A preapproval letter from a lender tells sellers you are a serious, qualified buyer. Melissa asks buyers to obtain a current preapproval before scheduling private showings. This confirms that the search is based on a realistic price range and allows Melissa to give each buyer the time and preparation the process deserves.
Prequalification is a preliminary estimate based primarily on information supplied by the buyer. Preapproval is a more complete lender review of credit, income, assets, debts, and supporting documentation. A preapproval does not guarantee final loan approval.
Understand the Complete Monthly Payment
Your monthly housing cost includes more than the principal and interest on your loan. Build your budget around the complete picture:
Principal and interest
Property taxes
Homeowners insurance
Mortgage insurance, when applicable
HOA or condominium dues
Utilities
Maintenance and repair reserves
Your lender will provide an estimate of the complete monthly payment. The maximum loan amount you are approved for is not automatically a comfortable spending limit.
Once You’re Preapproved: Do Not Do These Things
Lenders may verify your credit, employment, income, assets, and debts again before closing. A financial change that appears harmless can delay the transaction or affect final loan approval.
• Do not open or close credit accounts.
• Do not finance furniture, appliances, recreational vehicles, or a new vehicle.
• Do not co-sign a loan for anyone.
• Do not make unusually large purchases.
• Do not increase credit-card balances.
• Do not miss payments.
• Do not deposit large amounts of unexplained cash.
• Do not move substantial amounts of money between accounts without documenting the transfers.
• Do not withdraw money from a retirement account without first speaking with the appropriate lending and financial professionals.
• Do not change jobs, reduce working hours, or change how you are paid without speaking with the lender.
• Do not assume the loan is final before closing.
Protect Your Money and Your Timeline
From offer to closing, these are the critical steps every buyer should understand.
Earnest Money and Contract Deadlines
Earnest money is a good-faith deposit delivered after an offer is accepted according to the amount, method, and deadline written in the purchase agreement. It is held in a designated trust or escrow account, not personally by Melissa, and is generally credited toward the buyer’s funds due at closing.
Your purchase agreement establishes the earnest-money amount, delivery deadline, contingencies, and cancellation rights. Melissa will help you track these requirements and deadlines. Questions about your legal rights under a contract should be directed to a qualified real estate attorney.
⚠️ Wire-Fraud Warning
WIRE-FRAUD WARNING: Never rely solely on wiring instructions received by email or text. Before sending money, call the title company using an independently verified telephone number and verbally confirm the routing number, account number, recipient, and amount. Do not use a telephone number contained only in an unexpected email.
Homeowners Insurance
Your lender will require a homeowners insurance policy in place before closing. Buyers should begin shopping for coverage early and generally secure the insurance binder approximately two to three weeks before closing, or earlier when requested by the lender.
Insurance companies may consider the property’s prior claim history, commonly associated with a CLUE report. Roof age, electrical systems, plumbing, heating systems, replacement cost, and proximity to water may affect availability and price.
Buyers in the Twin Cities lake communities and St. Croix River valley should ask about:
• Wind and hail
• Frozen pipes
• Ice dams
• Sewer or sump-pump backup
• Flood exposure near lakes, rivers, wetlands, or mapped flood zones
• Detached garages and accessory buildings
The lender commonly requires proof of insurance before closing and may require the first year’s premium to be paid at or before closing.
Reviewing HOA and Association Documents
Review all association documents carefully before moving forward. A special assessment is an additional charge imposed on owners when regular dues and available reserve funds are not enough to cover a major repair, improvement, insurance obligation, or unexpected expense. Low monthly dues do not necessarily mean an association is financially healthy. Inadequate reserves can lead to deferred maintenance or substantial future assessments.
Review the following areas thoroughly:
• Association finances and reserve funds
• Current and proposed special assessments
• Master insurance coverage
• Maintenance responsibilities
• Meeting minutes and planned projects
• Pet restrictions
• Rental caps or restrictions
• Parking and vehicle rules
• Boat, trailer, and RV rules
• Exterior modification restrictions
Your purchase agreement will establish the applicable document-review deadline.
Preparing for the Final Walk-Through
The final walk-through is your opportunity to confirm the property is in the agreed condition. The final walk-through commonly occurs shortly before closing, depending on the purchase agreement and scheduling.
During the walk-through, verify:
• The property remains in the agreed condition
• Agreed repairs appear complete
• Included fixtures and personal property remain
• Required belongings and debris have been removed
• No new visible damage has occurred
The final walk-through is not a second home inspection or an automatic opportunity to renegotiate previously accepted conditions.
Preparing Funds and Identification for Closing
The lender or title company will provide the final amount required for closing. Buyers must follow the title company’s approved payment instructions. A personal check is generally not accepted for substantial closing funds. Wire instructions must always be verbally verified using a trusted telephone number.
Buyers should confirm identification requirements directly with the title company. A financed closing may require approximately one to two hours for document review and signing, although timing varies. Possession and key delivery depend on the purchase agreement and closing instructions.
Questions Buyers Should Feel Comfortable Asking
Should I get preapproved before touring homes?
Yes. Sellers and listing agents typically require a preapproval letter before scheduling a showing. Preapproval also helps you understand what you can afford before you begin searching.
What is earnest money?
Earnest money is a deposit you make after an offer is accepted. It shows the seller you are serious about the transaction. The funds are held in a third-party escrow account and applied toward your down payment or closing costs at closing.
What costs should I expect beyond the down payment?
Beyond the down payment, buyers typically pay closing costs, which may include loan origination fees, appraisal and inspection fees, title insurance, recording fees, prepaid property taxes and homeowners insurance premiums. Your lender or closing agent will provide a detailed estimate.
What does a home inspection cover?
A standard home inspection evaluates the condition of the roof, foundation, structure, HVAC systems, plumbing, electrical, windows, doors, insulation and visible interior and exterior components. It does not cover specialized systems such as sewer lines, chimneys or wells unless separately arranged.
Can inspection findings affect the transaction?
Depending on the purchase agreement, buyers may request repairs, a price adjustment, or credits based on inspection findings. Sellers are not required to agree, but the inspection gives you the information you need to make an informed decision.
What happens if the appraisal is lower than the purchase price?
An appraisal that comes in below the purchase price can affect financing. Options include renegotiating the price with the seller, covering the difference in cash or disputing the appraisal if there are factual errors. Your agent and lender can explain what applies in your situation.
Why should buyers avoid opening new credit or changing jobs during financing?
Lenders evaluate your credit profile, debt-to-income ratio and employment stability throughout the loan process. Opening new credit or changing jobs can delay or disqualify your financing. Wait until after closing to make financial changes.
What happens during the final walkthrough?
The final walkthrough is your opportunity to confirm that the property is in the agreed condition, that requested repairs have been completed, and that no new issues have arisen since the inspection. It typically takes place shortly before closing, depending on your purchase agreement.
When should I contact Melissa?
As early as possible. The sooner Melissa understands your goals, timeline and questions, the better she can tailor the search, connect you with appropriate professionals and help you avoid common pitfalls.
What Buyers Say About Working With Melissa
“It was helpful to have her knowledge, experience, and advice as first time home buyers.”
Lily Gladis
Google Review“She really looked out for us and became like a part of our family.”
Cori Stuhr
Google Review“Without hesitation I would recommend Melissa to help you find your dream home!”
Andrew Lawton
Google ReviewFor medical, firefighter, EMS, police and veteran friends, the broker administration fee is on Melissa
Melissa covers the broker administration fee on the transactions she handles for the people who spend their careers taking care of everyone else. It is her way of saying thank you to those who serve.
You Don't Have to Figure It Out Alone
Tell Melissa what you are looking for, where you are in the process and which questions are keeping you from moving forward.
This information is provided for general educational purposes. Financing, insurance, title, association, inspection, and closing requirements vary by property and transaction. Consult the appropriate licensed professional about your specific circumstances.