Home Buying in Chicago and Suburbs
You've come to the right place if you're thinking of purchasing real estate in the southwest Chicago suburbs. 
Following is a quick guide to give you an idea of the home buying process. If you have more time please check out my Home Buyer FAQ's and detailed Step-By-Step Tutorial. Also, here's a Real Estate Glossary with definitions. If you're a first-time buyer you might want to watch My First Place on HGTV.
1. The first thing you should do before you start looking at Chicago suburb homes is to get pre-qualified or pre-approved. Below are some helpful links:
- Mortgage Calculator - try different scenarios of pricing, interest rates and down payment.
- Mortgage Guide - this is another step-by-step guide explaining the mortgage process and gives tips on what to do, and what not to do, prior to purchasing a property.
- Credit Guide - another comprehensive tutorial
- Call Judy Orr at 708-536-8200 or use my Contact Form to recieve a selection of great local loan officers.
2. Call me at 708-536-8200 or contact me now. I will set you up with a free Automated Home Search program that will alert you to new homes on the market via e-mail. This is the way to find the best buys. Many brokerages no longer use print advertising and some sellers don't use a For Sale sign. We don't always put SOLD tags on signs of homes that have contracts. Most real estate portals that offer home searches do not separate homes with contracts (with some type of contingency) from those that are ready to view, and filling out the Automated Home Search you will only recieve active listings that are available to see. If you'd like to get started right away without having to make a phone call just fill out my Home Finder's Form.
3. I also provide full MLS search. This will give you full MLS access and you can take your time searching different areas and get an idea of price ranges. You can also save your favorites.
4. If you find properties that you would like to see call Judy at 708-536-8200. Please keep in mind that many of the properties have families living in them and I need to set an appointment to see the different properties.
5. Be prepared to write a check for "earnest money" when you find a home you want to purchase. Depending on the purchase price and other factors, I will give you a suggestion of how much earnest money you'll need.
6. When we get to the point of writing up a contract, I will perform a Comparative Market Analysis for you to show you what similar properties have sold for in the past 6 months. This will be helpful when deciding what to offer.
7. It is best for you to hire a real estate attorney to review the accepted contract and help you through closing. If you don't have an attorney I have a great real estate attorney I've worked with for years to suggest to you.
8. Once a contract is accepted you will have a time limit to have a home inspection done at your cost. I can provide 
you with a list of certified inspectors if you don't have someone in mind.
9. After the contract is accepted I will fax all documents to your attorney and your loan officer. You will need to contact your loan officer to get the loan application started and/or to provide any needed documentation.
10. Prior to closing you will have the right to what is referred to as the final walk-through. I will accompany you but this is not a full inspection. We will check to make sure no damage has been done since the contract was written and we can test things like water faucets, flush toliets & check appliances that are remaining as part of the contract agreement.
The Closing! Most likely you'll meet at a title company. The closing date is actually set by the attorneys once the mortgage company has given the OK. Your attorney will explain all of the many documents you'll be signing. You'll need to provide photo I.D.'s. The sellers do not have to be at the closing as they are allowed to pre-sign their documents. As a buyer, you do need to be present.
In most cases your attorney already told you the amount of money you need to bring in to closing. You might feel this amount is higher than anticipated but they always want to make sure you have enough. If there is money due back to you the title company will cut you a check.
If the contract called for possesssion at closing you will get the keys to your property as soon as all monies are disbursed. If the sellers are staying in the property per the contract, an amount of money due you will be held in an escrow account to be disbursed when the sellers leave and turn over the keys to you.
Congratulations, you're in your new Chicago suburb home!
Helpful Buyer's Links:
Buyer FAQs
Credit Articles & Advice
Daily Interest Rates
Home Buying Tutorial
Real Estate Glossary
Steps to Obtain a Mortgage
Your Southwest Chicago Suburbs REALTORS®
Judy Orr & Jimmy Herter
Classic Realty Group
(708) 536-8200
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