by andrewhasdal
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Chicago Homebuyer Checklist

• Phase 1 - Introduction (1-2 days)

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• Sit down with REALTOR

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• Fill out wants/needs list

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• Contact lender, obtain pre-approval

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• Phase 2 - Pre-Contract (1-60+ days)

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• Search for a home

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• Decide on the one!

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• Research home, get info from listing agent

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• Review comparable sales in the area with agent

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• Agent presents offer and negotiates with sellers

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

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• Agree to terms; Obtain executed documents

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

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• Set up and attend inspection

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• Obtain inspection report and review with agent

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• Send report to attorney with items to address

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• Review condo/home documents with attorney

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• Attorney sends modification letter

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• Negotiate any outstanding details

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• Phase 4 - Financing (5-30 days)

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• Attorney review complete; Turn in balance of earnest money

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• Send any outstanding documents to the lender

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• Lender orders appraisal

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• Lender collects remainder of condo/home documents needed

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• Lender send loan to underwriting

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• Clear to close!

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• Phase 5 - Closing (3-7 days)

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• Set up utilities in your name; Coordinate move

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• Lender sends closing disclosure 3+ business days before close

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• Final walkthrough one hour before closing or the night before

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• Address any issues from walkthrough if necessary

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• Closing day!

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This checklist was created by andrewhasdal

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