Buying a House FAQ
What is the benefit of buying today instead of renting?
Today’s benefit is that interest rates are at an all time low and housing pricing are, too!
Can I buy a house?
Yes, you will need cash for a down payment, good credit and a monthly income. You should begin by meeting with a mortgage broker to obtain a pre-approval letter and determine what you can spend for a home.
What are the other costs outside of my mortgage that I should be aware of?
Chicago Transfer Stamps, title fees and other detailed costs that your mortgage broker, by law, will provide to you. This document is called a Truth in Lending Statement.
How do short sale and foreclosure purchases work?
The closing seems to take a bit longer, but you should consult Michael for more details as each deal can be different depending on the property and what stage of the foreclosure or short sale process it is in.
How quickly can you get me into a home?
Quickly…depending upon the term points of the contract that is written.
When am I committed to working with you?
As a buyer: when you sign the buyer representation agreement. As a seller: when you sign our listing agreement.