Buying a home
How I Help You Buy a Home, Step by Step
From the first showing to the keys, here is how I help buyers in Barrington, Algonquin, Crystal Lake and the Northwest suburbs buy a home in Illinois.
The short version
Buying a home is probably the biggest investment you'll make in your life, and I don't like rushed decisions. I teach you every step so you understand what you're doing. I answer my phone well into the evening. And since Illinois is an attorney state, I'll explain where the attorneys fit in before it comes up.
Ready: Know the plan before we walk in
We start with a conversation about what you need and what you can comfortably spend, and I help you find the right lender.
Before we tour any home, you sign a buyer representation agreement and an Illinois agency disclosure. Sometimes we sit down and go over it ahead of time. Sometimes I explain it right before we walk in, or email it and go over it with you. Either way, it's signed before the first showing. It spells out how I represent you, and how I'm paid is written in it and is open to negotiation.
How I Help You Buy a Home, Step by Step
Educated: Learn what to look for
At your first showing, I show you where to look: the ceilings for water damage, the floors, the vents, the HVAC room. It's the little things that show how a home has been cared for.
Aligned: Find the one that fits your life and your budget
You'll see homes that match what you told me, not everything on the market.
Locked: Offer, inspection, and closing
I negotiate for you using my Certified Real Estate Negotiator (CREN) training.
Earnest money has no set amount. A good rule of thumb is about 1% of the purchase price, and on higher offers, over roughly $700,000, buyers usually put down at least $15,000 to $20,000, if not more. The listing sheet says who holds it, and it's usually the seller's brokerage. Otherwise the contract says.
After the contract, Illinois has the Attorney Inspection Review. You have your inspection done within the first 5 business days, and your requests have to be submitted by that 5th day.
This describes my general process. It is not legal, tax, or lending advice.
Frequently Asked Questions
Do I have to sign an agreement before touring?
Yes. I always have my buyers sign a buyer representation agreement and the Illinois agency disclosure before we tour a home. Sometimes we go over it ahead of time, sometimes I explain it right before we walk in, and sometimes I email it and go over it with you.
How much earnest money do I need?
There is no set amount. A good rule of thumb is about 1% of the purchase price. On higher offers, over roughly $700,000, buyers usually put down at least $15,000 to $20,000, if not more.
What is the Attorney Inspection Review?
It's Illinois's inspection period after the contract. You have your inspection done within the first 5 business days, and your requests have to be submitted by that 5th day.
Who holds the earnest money?
It's listed on the listing sheet. Usually the seller's brokerage holds it. If not, the contract says who does.
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Ready to make your move with Laurie Arslani, REALTOR®?