BUYERS

Banks evaluate your financial situation using gross monthly income, your total monthly housing costs should not exceed 28 percent of your gross monthly income. Be prepared to view new properties quickly. Sometimes homes sell quickly so be ready to make fast decisions. Be accessible to change the terms.

Lender fees include charges for loan processing, underwriting, preparation and establishing an escrow account.

Third-party fees include charges for insurance, title search, lawyer and inspections.

Government fees include Chicago transfer taxes, deed recording and Chicago/Cook County fees.

Submit a strong competitive offer. 

Include a substantial earnest money deposit. Sometimes offers are accepted based on the amount of the earnest deposit.

Minimize contingencies. Fewer contingencies mean a stronger offer.

Hire an inspector, I work with several that specialize in the South Loop.

Your contract should be very specific about which items (appliances, etc.) are included in the sale.

Get agreements in writing. Make certain verbal agreements are written into the final contract to avoid any expensive issues later.

While all of these tactics and strategies may seem easy, it should be noted that a certain percentage of real estate transactions fail. Choosing a South Loop local expert with 15+ years of experience to minimize that risk & deliver you the home best suited to your needs and desires!