Chicago Homebuyer Checklist

  • Phase 1 - Introduction (1-2 days)

  • Sit down with REALTOR

  • Fill out wants/needs list

  • Contact lender, obtain pre-approval

  • Phase 2 - Pre-Contract (1-60+ days)

  • Search for a home

  • Decide on the one!

  • Research home, get info from listing agent

  • Review comparable sales in the area with agent

  • Agent presents offer and negotiates with sellers

  • Phase 3 - Inspection Period and Attorney Review (5-10 days)

  • Agree to terms; Obtain executed documents

  • Turn in initial earnest money; Send contract to pertinent parties

  • Set up and attend inspection

  • Obtain inspection report and review with agent

  • Send report to attorney with items to address

  • Review condo/home documents with attorney

  • Attorney sends modification letter

  • Negotiate any outstanding details

  • Phase 4 - Financing (5-30 days)

  • Attorney review complete; Turn in balance of earnest money

  • Send any outstanding documents to the lender

  • Lender orders appraisal

  • Lender collects remainder of condo/home documents needed

  • Lender send loan to underwriting

  • Clear to close!

  • Phase 5 - Closing (3-7 days)

  • Set up utilities in your name; Coordinate move

  • Lender sends closing disclosure 3+ business days before close

  • Final walkthrough one hour before closing or the night before

  • Address any issues from walkthrough if necessary

  • Closing day!

This checklist was created by andrewhasdal

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