The Step-by-Step Guide to Buying a Property in the Chicagoland Area
1.) BUYER CONSULTATION MEETING
- Buy vs. Renting decision
- Review entire process with your Realtor
- Understanding all costs related to buying
2.) FIRST STEPS
- Get Pre-Approval from a Lender
- Set your price range, including taxes & assessments, if a condo
3.) START VISITING HOMES
- Which one is the Best?
- “I’ve found the One”!
4.) NEGOTIATE YOUR PURCHASE
- Comparative Market Analysis (CMA)
- Write the offer
- Formulate Negotiation Strategy
- Counter-Offer(s) lead to Accepted Offer
- Delivering of Earnest Money
5.) FIRMING UP THE CONTRACT
- Attorney Approval Period
- The Inspection
- Resolving Contractual & Inspection Items
6. ) LOAN PROCESS
- Apply for Mortgage
- Appraisal
- Mortgage Contingencies
7.) MOVING PREPARATIONS
- Start/Move Utilities
- Change of Address
- Physical Moving Arrangements
8. ) CLOSING PROCESS
- Schedule Closing
- Final Walkthrough
- Closing
9.) TAKE POSSESSION
- Post Closing Activities
