Buying Process

Congratulations! You have decided to purchase a home, or are thinking about buying one. You'll be joining hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future.

GETTING PRE-APPROVED:
Your first step towards purchasing your new home is to be pre-approved for your mortgage (home loan). A Realtor will require that you have a pre-approved letter prior to showing you any homes.

SELECTING YOUR REALTOR:
Realtors are licensed by the State of Illinois and trained with the highest quality of on going education. They are experts in the field of buying and selling real estate.

FINDING YOUR HOME:
Once you have determined your needs and priorities, it's time to begin your home search. Your Realtor will set appointments for you to view the homes that have been selected.

ENTERING INTO A CONTRACT:
As you enter into a contract, you are entering into a legal, binding agreement. The majority of contracts that Realtors use are real estate board approved.

SELECTING AN ATTORNEY:
Selecting an experienced real estate attorney is not necessary, but highly recommended. There are many different types of attorneys that specialize in many areas of law. The experience of a real estate attorney could prove to be invaluable.

SELECTING A HOME INSPECTOR:
Most real estate contracts will have a condition or rider allowing you to hire a professional home inspector.

FINAL MORTGAGE APPLICATION:
Most contract require that the purchaser make final written loan application within 5 days of seller's acceptance contract.

PREPARING FOR YOUR CLOSING:
The attorneys will schedule your real estate closing. The closing date on your contract is a target date and not necessarily the day of close.