Step 4: Now that a deal has been made, you engage the resources you need to complete the purchase. Week one of the contract is the most critical of all.
There are MANY things you must deal with in Week One:
•1. Loan Application:
Day ONE, call your lender to activate your application and order an appraisal. The lender we most love to recommend to clients is Guaranteed Rate (Brian Weis is our contact-his office number is 773-290-0591 ; his fax is 773-516-6732).
•2. Attorney Review: You must also immediately engage an attorney. Attorneys to consider include:
•· Deanna Ryan (office:773-687-9064)
•· Attorney # 2 (TO BE ADDED)
•· Attorney # 3 (TO BE ADDED)
•3. Property Inspection: Good inspectors include Steve Hier (773-342-4722) of Miller-Hier or Robb Packer or Steve Kroeckel of Metrospect (847-808-8488).
We will want you to have a complete inspection, but please be aware that, in this market, large credits for repair normally are given only if the listing sheet overstated the property condition.
•4. Earnest money: $1,000.00 is normal as the initial earnest money, and it is typical in Chicago for a total of 2% to 5% to be due at the end of attorney review (the $1,000 counts toward it). And, please, don't lose track of the date-failure to complete the earnest money could void the contract.
And this is just the start of what you'll find at www.Chicagoland2to4Flats.info!!!
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