Congratulations! You have entered into an agreement to purchase a home. There’s still some important work to do before you sign off and move in.
Once we have a signed contract, we will provide that to your attorney. (Please note that this process is different in Northwest Indiana!) He or she will review the contract and will suggest changes that will better protect your interests. They will negotiate these changes with the sellers attorney, until they reach an agreement on terms. If you are purchasing a condo or townhouse, then your attorney will be requesting and reviewing all condo documentation including but not limited to condo declarations, rules, and recent meeting minutes.
While your attorney is working to make sure the contract takes into consideration your best interests, you will want to have a professional home inspector evaluate the home. Your inspector will conduct a thorough exam of the home and it’s mechanicals. While no inspection can find all possible current or future defects, it will indeed help to make you aware of significant flaws that may not be obvious to the naked eye.
Once the inspection is complete, you will work with your attorney and agent to determine next steps. You may want to negotiate repairs, or a credit for necessary repairs. If you and the seller can’t agree to these items, then either party can cancel the contract. If you can agree to terms, then the deal will move forward.
If you are considering buying a condo, townhouse, or single family home in Chicago or Northwest Indiana, you should call or text Joe at 312.593.8854 today! Buyers NEVER pay a dime for our services!