Quality Service, Nothing Less

Buyers

BUYING A HOME

POSSIBLE EXPENSES

 Earnest Money

  • Usually a minimum of $1000+
  • Comes off of your down payment amount at closing

 Attorney $375-$800

 Home Inspection – $400-$600

  • Inspect Inc. Mike Doetsch 847.381.7210
  • About Your Home Inspection David Novalinski 847.669.9040

 Additional inspections

  • Radon $200+
  • Well and Septic $300-$500
  • Air Quality/Mold $200+

 Appraisal $400-$600

  • Usually included in your lending fees.
  • Lender should be able to verify exact amount.

 Down Payment

  • A percentage of the purchase price, depending on what time of loan you will be using.

 Home Owner Association (If Applicable)

  • Some HOAs require a move in/out fee and they also may require you to pay a certain number of months in reserves.

 Closing Cost

  • $2000+

-Your lender should be able to give you a better estimate.

*All numbers are estimated and could change.

 

TIMELINE

 Get started with a lender on the preapproval process and determine a budget for purchase price, taxes, and homeowners association fees.

 Start searching for a home.

  • Determine your must-have qualities in a home.
  • Narrow down town, neighborhoods, school districts etc.

 When you’ve found a home that you like, we can write an offer.

  • Offers will include purchase price and terms of sale.
  • We will negotiate back and forth with the seller until we either have a mutually agreed upon contract or it is determined that an agreement cannot be met.
  • Possible multiple offer situations.
  • We may have to write several offers until we can come to an agreement with a seller.

 Offer is accepted!

  • Earnest Money will need to be given. This is typically a minimum of $1000 and comes off your down payment.
  • 5 Day attorney review and home inspection period.

-Both the buyer and seller have the option to cancel the contract for any reason during this period.

-Home inspections are at buyer’s cost and can include: general, radon, air quality, lead based paint, well and septic.

 Contract to close.

  • Complete loan process including submitting all required docs and meeting all lender conditions.
  • Appraisal is completed.

-Depending on the type of financing you are using, the property needs to meet certain livable standards.

  • Final walk through.
  • Closing.

-Bring remainder of down payment, plus any closing cost.

-Keys are usually given at closing.