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Here are our FAQ's that might help you.

A: We are happy to answer any questions you have about the buying process. A good place to start if you are a first time buyer is the Attorney General website. The Attorney General has put together a first time homebuyers booklet that contains a wealth of information. http://www.ag.state.mn.us/Brochures/ homebuyershandbook.pdf

As a seller who has signed a purchase agreement for your house, here are the next steps you can expect:

  1. Earnest Money Deposit: Once the buyer has signed the purchase agreement, they will typically provide an earnest money deposit. This deposit demonstrates their commitment to the purchase and is held in escrow until the closing.

  2. Cooperate with Buyer’s Requests: The buyer may have certain contingencies outlined in the purchase agreement, such as a home inspection, appraisal, or financing approval. Cooperate with their requests and allow access to the property as needed.

  3. Home Inspection: The buyer may schedule a professional home inspection to evaluate the condition of the property. Be prepared for any potential issues or repairs that may arise from the inspection. Depending on the terms of the purchase agreement, you may have the opportunity to address these issues or negotiate with the buyer.

  4. Title Search and Clearances: The buyer’s lender or title company will conduct a title search to ensure there are no liens or legal issues with the property’s ownership. Work with the necessary parties to clear any outstanding issues or disputes that may affect the sale.

  5. Reviewing Contingencies: Review the purchase agreement carefully to ensure all contingencies and timelines are met. For example, the buyer may need to secure financing or sell their current home before proceeding with the purchase. Ensure that both parties are fulfilling their obligations as per the agreement.

  6. Finalizing Closing Details: Work with the buyer’s agent, your real estate agent, and potentially an attorney or title company to gather necessary documents and complete any required paperwork. Prepare for the closing by providing any requested information or disclosures.

  7. Closing: On the closing day, you’ll meet with the buyer, their representative, and potentially an attorney or title company representative. At the closing, you’ll sign various documents, including the final settlement statement and transfer of ownership documents. You’ll receive payment for the sale of the property and hand over the keys to the buyer.

It’s important to note that the specific process and requirements may vary depending on your location and the terms of the purchase agreement. It’s advisable to consult with a real estate professional or attorney who can guide you through the selling process and ensure a smooth closing.

A deed is a legal document that proves transfer of ownership, while the title refers to the legal right to own that property. The deed is the document that is used to transfer the title from one person to another.

In many markets title insurance is taking the place of Abstracts. While this is not the case in Southeastern Minnesota, most purchase agreements now provide that Sellers may provide either an Abstract, or a search for an Owners Title Insurance Policy.
The answer depends on the date of closing and your particular loan. If your payment due date is close to the day of closing, do not make the payment. On the day of closing the payoff will be sent via FedEx to your bank. If the closing date is within the grace period provided by your bank, do not make the payment. Payoffs must be requested from your bank just prior to the day of closing. This process takes time and some institutions charge for each payoff request. So, to ensure an accurate payoff statement at the closing table, do not make unnecessary payments.
You may either call the office to set up an appointment, or for relatively simple question, possibly speak with an attorney on the telephone. You may also send us an email to docs@ohlylaw.com

Initial consultations are typically free of charge. The fees for preparing documents, meetings and other factors can be discussed during the initial consultation so there are no surprises. 

If you die without a will, the state laws of intestacy will determine how your assets are distributed. This may not align with your wishes and could lead to potential conflicts among your heirs. A will ensures your property is distributed according to your preferences.

A will outlines how you wish your assets to be distributed after your death, while a living will specifies your desires for medical treatment if you become unable to make your own decisions.

Probate is the legal process that takes place after someone dies. It includes: proving in court that a deceased person’s will is valid, identifying and inventorying the deceased person’s property, having the property appraised, paying debts and taxes, and distributing the remaining property as the will (or state law, if there’s no will) directs.