Chicago Homebuyer Checklist

There are a few steps to buying a home. Use this checklist to make sure you know the whole process.  Please send me an email and let me know what you think: [email protected]

Phase 1 – Introduction (1-2 days)

• Sit down with your REALTOR
• Identify your needs and wants (dream a little)
• Contact lender to secure your pre-approval
  • Taxes – two years
  • Bank statements- two months
  • Pay stubs- two months

Phase 2 – Pre-Contract (1-30 days)

• Begin the home search
• Identify your home
• Visit and get a feel for the home
• Review comparable sales in the area with your agent
• Present the offer
• Iron out any outstanding details

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

• Agree to terms; secure signed documents
• Deliver initial earnest money
• Send contract to pertinent parties
• Attend home inspection
• Review inspection report with agent
• Follow up with attorney to address outstanding items 
• Review condo/home documents with attorney
• Attorney sends out a modification letter or closes out the review period

Phase 4 – Financing (5-30 days)

• Send any outstanding documents to the lender
• Lender orders appraisal
• Lender collects remainder of condo association/home documents 
• Lender sends 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!