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You are here: Home / Guides for Buyers / The Buying Process

The Buying Process

The Step-by-Step Guide to Buying a Property in the Chicagoland Area

 

1.) BUYER CONSULTATION MEETING

1. Buy vs. Renting decision
2. Review entire process with your Realtor
3. Understanding all costs related to buying

 

2.) FIRST STEPS

1. Get Pre-Approval from a Lender
2. Set your price range, including taxes & assessments, if a condo

 

3.) START VISITING HOMES

1. Which one is the Best?
2. “I’ve found the One”!

 


4.) NEGOTIATE YOUR PURCHASE

1. Comparative Market Analysis (CMA)
2. Write the offer
3. Formulate Negotiation Strategy
4. Counter-Offer(s) lead to Accepted Offer
5. Delivering of Earnest Money

 

5.) FIRMING UP THE CONTRACT

1. Attorney Approval Period
2. The Inspection
3. Resolving Contractual & Inspection Items

 


6. ) LOAN PROCESS

1. Apply for Mortgage
2. Appraisal
3. Mortgage Contingencies

 


7.) MOVING PREPARATIONS

1. Start/Move Utilities
2. Change of Address
3. Physical Moving Arrangements

 

8. ) CLOSING PROCESS

1. Schedule Closing
2. Final Walkthrough
3. Closing

 

9.) TAKE POSSESSION

1. Post Closing Activities

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Albany Park Expert:

Colette Adams | ChicagoHome Brokerage Network at @properties
Colette Adams, Broker

773-450-7246
Colette@ChicagoHome.com

Colette Adams Testimonials

  • Working with Colette was a great experience. She is intuitive and helped me find the perfect place within three weeks of the start of my search. She answered my questions frankly and honestly, and I felt confident in her guidance through a fairly complicated real estate environment. I enthusiastically recommend Colette to help you through your home search.

    KV

  • It was a privilege to work with Colette. She is knowledgeable and helpful in every way. I was so overwhelmed with the task of looking for a new place to live, I gladly trusted Colette to help me find the best place and to negotiate the best deal. It was a load off my mind to let her handle it for me and to know I was in the best hands possible. I am so pleased with my new home and I owe it all to her.

    LB

  • I was very pleased with my agent Colette Adams. She was very patient and helpful. She answered any questions I had. She made me feel extremely comfortable with my decision. She was very honest about everything and helped me through all the steps of my sale.

    MG

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