by andrewhasdal
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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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