The Buying Process

We’re with you every step of the way. From start to finish, your Dream Town broker will be by your side to help you navigate Chicago’s real estate market.

Create a plan

Your Dream Town broker will help you set your goals and become better prepared to enter the market. This will include determining your budget, narrowing down your criteria, and providing financing information. Before you start your search, it’s crucial to sit down with a lender and discuss your financial picture. They will help determine your down payment, ideal monthly payment— which includes principal—interest, taxes, and assessments or insurance.

Start your home search

Now that you’ve determined your housing needs, it’s time to find your dream property. Your broker will help you find property listings that meet your criteria and you’ll select the homes you would like to tour in person. Your broker will set up appointments and accompany you on property tours. Once you find “the one”, your broker will walk you a Competitive Market Analysis (CMA) for the home to help you establish the best offer to make.

Submit an offer

You’ll work with your broker to develop an approach to possible scenarios—like a counteroffer or multiple offers—that could potentially come up along the way. Together you will establish your terms and negotiation tactics before starting the purchase process.

Inspection and Sale Contingency

Once your offer is accepted, an attorney will review the contract. A home inspector will visit the home to check its condition and make you aware of any possible issues or repairs needed. The sale of the home can be made contingent on the seller making any necessary repairs or giving a credit for repair at closing.

Appraisal & Underwriting

Your lender will require a home appraisal to verify the value of the home. The lender will base the loan amount off the lesser value—either the sale price or the appraised value. Your lender will verify your income, assets and debts. They will work with you and your broker to get necessary info about the house or condo (such as a condo questionnaire and building meeting notes) as well as help you secure homeowner’s insurance.

Closing Time

You will schedule your move-in date once your lender has cleared all conditions. On the day of closing, you and your broker will walk through the home after the current homeowners have moved out to make sure that the property has been left as promised. Your attorney and broker will be at the closing to to transfer ownership and hand you the keys to your new home!

Your relationship with your Dream Town broker doesn’t end here—our brokers can help you secure a moving company and other professional services to make your new house feel like home.

Ready to Get Started?

Let our powerful website connect you to our network of Chicago homes, tailored to your specific needs. Dream Town brokers take great pride in their high client service standards, and are always there to help you navigate Chicago’s diverse market. You’ll benefit from the guidance of your dedicated Dream Town real estate expert throughout the entire process.

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