Yes. Bellingham will be a perfect player to replace Modric. Bellingham is a midfielder with big talent and he is very young (19 years old). He will have a long career in Real Madrid.
The problem is we know that apart from the many big clubs who are interested in this player, there is another thing, namely when dealing with Borussia Dortmund, it is clear that this will not be as simple as buying ordinary players because it reflects on several previous players and the latest is Haaland, it took City a few seasons to get it right. really being able to bring in this player so it won't be as easy as Madrid had hoped.
Of course, the negotiation related to transfer fees won't be easy. Bellingham becomes one of the most valued players at a very young age, he is an asset in the Dortmund squad. I am very sure that Dortmund will raise the price of Bellingham since there are many clubs interested to sign him. His current market price is 90.00m, Dortmund must ask above 100.00m. Only a big club that wants to spend huge money to sign him, it is likely Real Madrid. If Chelsea or other clubs make an offer below 90.00m, it seems to refuse by Dortmund. Anyway, I think Real Madrid has no problem with Bellingham's market price as long as he deserves it. Real Madrid should have enough money, they are a big club with good financial management.