The Fixer Upper Experience
See our 8 step process for buyers of fixer uppers.
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Our 8 Step Fixer Upper Process:
Beginning your home search can be overwhelming, especially in this competitive market. It's difficult to find the perfect home, with a great yard, in the right neighborhood for a good price. Never fear--you can create it yourself! Be the star of your own Minnesota Fixer Upper dream. While you may not get to be on TV, you'll still have that same stellar experience and still get to live happily ever after in your new, dream home.
Meet and create a wishlist
Let’s get to know each other! Once you’re ready to work with our team, we’ll meet together for a Buyer Consultation to focus your search and find out what you want and need in a home.
Determine your all-in budget
We’ll introduce you to our construction loan expert, who can help you determine your All-In Number with confidence. Be prepared to dig into paperwork during this part of the process such as pay stubs, W2’s, and tax returns. The lender will do a full review and then tell you what you will be able to borrow in order to purchase a home. This is a vital step in the process! From here, we can work backwards to get a target purchase price and renovation budget.
Schedule viewings for fixer uppers
Here is where things get really fun! We will look for homes that meet your criteria in terms of neighborhood, home style & lot, then we will show you some options and talk about remodel ideas for each. Our contractor and designer will weigh in to give a broad overview of ideas and costs for each option.
Home selection & closing #1
When you’ve chosen which home will be your fixer upper, your agent will present a written offer to the seller and help you negotiate a great deal. Once the offer is accepted, the contractor will provide construction plans to your lender, the lender will order a pre-and post construction appraisal, & you will move forward to Closing #1, which is where you sign documents to acquire the home with a construction loan.
Meet with contractor and designer
After closing, you will meet with our general contractor and home designer to put the finishing touches on your remodel plans. You can be as involved as you'd like in color and style selection or you can leave it to the experts to choose options that match your preferences and meet the highest standards in home design trends.
From fixer upper to dream home
Immediately after closing #1, the contractor begins the renovation on your fixer upper. He will keep you informed of the process and estimated completion timeframe. On TV, buyers never get to see the home until it's done. In Minnesota, you're welcome to stop by and visit throughout the project. 🙂
Closing #2 - get your keys
Get excited because it’s time to close on your home, another time! This process includes signing the final paperwork to convert your construction loan to a permanent home mortgage. The renovation is finished, your home is move-in ready. You won't have to sign quite as many times as you did at Closing #1. Pick up the new keys to your new home!
Celebrate! 🥂
Then move into your new home!
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