a guide to HOME BUYING
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home is…
Where we make memories. Where we build relationships.
Where we celebrate milestones. Where we laugh.
Where we love. Where we dream.
It’s so much more than a place to live – and finding
that special place you want to call home starts with
finding a broker who understands that.
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an indispensable partner
With a wealth of online resources and countless reality TV shows
about real estate, it’s not surprising some homebuyers consider a
DIY approach when purchasing a new home.
But for most, a real estate professional is an indispensable partner in the home-
buying process. While today’s buyers are more educated about real estate
than ever before, all the research in the world can’t match an experienced
broker’s “in-the-trenches” understanding of what’s happening in the market
today. And when the most in-depth market knowledge is backed by the
best marketing and technology infrastructure in the business, the results are
unmatched. That’s where @properties comes in.
As a local, independent brokerage, @properties has the expertise, the
relationships, and the resources to make your home-buying experience
productive and, just as importantly, enjoyable.
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let’s get better acquainted...
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Began as a four-person
boutique brokerage
Started the @gives back Community
Fund to inspire charitable outreach
among @properties’ brokers and to
support local organizations
Expanded to Chicago’s
North Shore
Became the #1 residential brokerage
firm in Chicago in less than a decade
Overtook the title of Illinois’
largest independent residential
brokerage firm in 2013
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Co-founders Thad Wong and Mike
Golden named winners of the Ernst &
Young Entrepreneur of the Year Award
Opened an office in New Buffalo, Michigan to
serve the Harbor Country resort-home market
Established @properties Wisconsin
with an office in Lake Geneva
Appeared on the Inc. 5000 list of
America’s fastest growing private
companies for the 11th time
Achieved a record
$9+ billion in sales
in 2017
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industry leader
@properties was built around a simple but elusive concept: provide
brokers and clients with the highest level of service in the industry
through cutting-edge sales and marketing programs and a culture
that values innovation, relationships, and a strong local focus.
What began as a four-person brokerage in 2000 has grown into the #1
residential brokerage firm in Chicago, the largest independent brokerage firm
in Illinois, one of the fastest-growing brokerage firms in Southeast Wisconsin
and Southwest Michigan/Northwest Indiana, and the 11th largest brokerage
firm in the U.S. by sales volume.
Despite tremendous growth, @properties still maintains its boutique feel,
collaborative environment, and commitment to being a local company that
serves both client and community. We are constantly evolving, but remain
focused on that one simple idea behind our founding.
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the buying process
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The Buying Process · 12
choose a broker
It’s important to ask potential brokers questions relating to their experience and
routines, and to listen for the questions they ask you to get a feel for if they’re
really intent on understanding your needs.
Experience in your preferred neighborhood and/or style of home is important,
but so is the comfort level between broker and client, because buying a home is
a highly personal experience. Your broker should be someone you like, trust, and
respect—and who feels the same way about you.
get pre-approved for a mortgage
In today’s home-buying environment, a mortgage pre-approval is essential. It not
only lets you know what you can afford to buy, but also demonstrates to sellers
that you are a willing and able buyer. What’s more, it gives you an important
head start in securing an actual loan commitment.
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create a wish list
Almost every home purchase involves some
degree of compromise. There are many variables
to think about depending on your lifestyle,
budget and future plans, but some universal
considerations include:
Location – Consider important factors such
as schools, transportation, and neighborhood
amenities like shops, restaurants and parks.
Type of Home – There are a variety of housing
styles to consider. Weigh the pros and cons to
narrow your focus.
Features and Amenities – Think about your
wants and needs, such as garage parking,
hardwood floors, outdoor space, etc.
find your home
At this stage of the game, you are ready to begin your home search. Here’s what
you can expect to do:
Review Listings – Your broker will present you with available listings. Beyond
price and property attributes, pay close attention to data like property taxes,
market time, and monthly assessments for condos and townhomes.
View Properties – Your broker will schedule showings and accompany you on
appointments.
Open Houses – If you’re attending open houses without your broker, be sure to
mention that you are being represented by an @properties broker. This will save
you from being inundated with calls from other brokers trying to represent you.
Compare Properties – Provide candid feedback to your broker after every listing
you see so he or she will be able to adjust their parameters in order to present you
with alternatives. When you find a home that suits your needs, your broker will
prepare a Comparative Market Analysis (or CMA) to help you formulate your offer.
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The Buying Process · 14
make an offer
When you find a home, it’s important to act quickly and make an educated offer
based on the strategy you and your broker have discussed. Your broker will draw up
a contract that includes your offer price and other terms and contingencies. Here
are some of the most common elements of a real estate contract:
Price – The market will determine the
final price, but your broker will help you
formulate an offer based on current
market conditions and comparable listings
and sales.
Mortgage Contingency – A mortgage
contingency stipulates that you will buy
the home subject to obtaining a mortgage.
If you cannot obtain a mortgage, and the
seller will not agree to finance the sale,
then the contract will be void.
Home Inspection Contingency – A
thorough inspection of the property by a
licensed home inspector protects you
against structural or material problems
that may not be detectable in a casual
walk-through.
Attorney Approval – Attorney approval is generally a one-week period in which
your attorney can review the contract and suggest alterations to help protect you
from any undue obligations. An attorney’s review is always highly recommended.
Earnest Money – Earnest money is a deposit, given to the seller, which secures the
contract until the closing. If the sale does not go through due to contingencies
covered in the contract, then the earnest money may be returned to the buyer.
Closing Date – This is usually the date the seller must vacate and the buyer may
occupy the property. Flexibility on the closing date can give a buyer a big advantage
over other potential buyers.
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negotiate counteroffers
In most transactions, there’s a fair amount of offers and counteroffers. Your
broker will draw upon his or her experience and market knowledge to offer
sound advice during a negotiation, and he or she can also serve as a buffer
between the buyer and the seller/seller’s broker.
contract to closing
There are dozens of loose ends to tie up between signing the contract and
closing the sale. Your broker will coordinate and oversee the following steps:
• Deliver earnest money with the seller or seller’s agent
• Recommend and schedule a home inspector and accompany the
buyer on the inspection
• Recommend real estate attorneys
• Obtain important documents, such
as property disclosure forms and
condominium documents (budget,
declaration, condo association minutes),
and deliver them to the buyer and buyer’s
attorney
• Recommend mortgage brokers and help
expedite the loan-application process
• Monitor all contingencies to ensure that
they have been met
• Recommend service providers for moving, home-improvement
and repairs
• Schedule a final walk-through. Both the buyer and buyer’s agent should
be present
• Coordinate and attend your closing
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The Buying Process · 16
closing
Your broker will work closely with you, your
lender, your attorney, and the seller’s broker to
make sure everything is in place for a smooth
and efficient closing.
Typically, a day or two prior to the closing, your
lender will forward all loan documentation to
the title company and let you know the amount
required to close. You will be responsible for
bringing the balance of your down payment and
closing costs (such as lender fees, title company
fees, and state and city transfer taxes) to the
closing in the form of a cashier’s check. At the
closing, your attorney will guide you through
the documents you need to sign, including the
bill of sale, the deed, and the affidavit of title.
after you buy
One of our core values is “Everything is Relationship”. We maintain relationships
with clients long after the closing. That means we’re always glad to help you find
service providers and tradesmen to perform work on your home or just make
life a little easier.
As you’re getting settled, here are a few situations you may encounter in the
coming months and years that are important to think about.
• Rebuilding Your Savings and Maintaining Financial Discipline – It’s important
to set up an automatic electronic payment with your mortgage lender, to avoid
costly penalties associated with late payments. Buyers should also make a plan
for gradually rebuilding their savings account.
• Refinancing – Keep an eye on interest rates even after you purchase your home.
If rates go down, you may be able to save money by refinancing. Keep in mind
refinancing is a major financial transaction with important implications. So be
just as diligent in a refinance as you were in securing your original mortgage.
• Home Improvement – Most new homeowners have at least a few projects they
want to tackle once they move in. Your broker has the network and resources
to help you find a variety of service providers to perform work on your home.
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online tools
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atproperties.com
Our website includes access to all properties listed in the local MLS along with detailed
community information and market trends. Sign up to customize and manage your
search, request notifications to keep tabs on the status of a home, find nearby open
houses, and save properties. Other features include:
• Enhanced property search functionality
that allows users to draw their search
area and sort through properties by
neighborhood, price, property type,
schools and transportation
• Listing detail pages with professional
photos, videos and floor plans
• Interactive maps embedded within
search results
• Advanced school district boundary data
• Video library that showcases
neighborhoods and @properties listings
• Parking availability rating powered
by Parknav
• Social sharing
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@properties’ interactive CMA
A Comparative Market Analysis (or CMA)
is one of the most important pricing
tools a real estate broker offers. This
report evaluates a home alongside other
properties – closed, active and pending
“comparables” – taking into account
variables like location, property features,
market times, and price changes.
@properties has created a new technology that takes the CMA to the next level. Unlike
a traditional, static CMA, @properties’ interactive CMA is up-to-the-minute accurate,
using real-time data from the local Multiple Listing Service. It allows you to add
comments to individual listings as you review the report, pin new properties to your
CMA, and receive e-mail alerts with information on newly-listed properties as well as
status changes to current listings.
Your @properties broker will prepare a CMA to help you formulate an offer based on the
market right here, right now.
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@agent app
Leveraging @properties’ “market within a market,” our brokers
use an internal mobile app for company-wide communication. The
exclusive @agent app allows our brokers to match homebuyers
with homes for sale, including pocket (off-market) listings. That
means our brokers have the inside scoop on properties that are
soon to be listed, giving buyers an early opportunity to view and
purchase during a time when others are waiting for properties to
hit the market.
Beyond connecting buyers and sellers, the @agent app aggregates
a knowledge base of every @properties broker in a searchable
database, making it a great resource for recommendations on
everything from vendors and service providers to local businesses.
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@gives back
What makes a house a home has just as much to do with what’s
around it, as what’s in it. That’s why @properties has always been a big
believer in helping to build strong neighborhoods and communities.
One way we do this is through the @gives back Community Fund, a 501(c)
(3) that was created out of the desire to inspire charitable outreach among
@properties brokers and to support the city that has allowed our company to
continually grow and thrive.
Each year, we partner with local organizations with an emphasis on
homelessness, education, youth development, health, and community. Past
and present beneficiaries include the National Foundation for Teaching
Entrepreneurship (NFTE), Christopher House, Teen Living Programs, Off the
Street Club, Maryville Academy, Deborah’s Place, Noah’s Arc Foundation,
Keith Relief, Imerman Angels, and the Anthony Rizzo Family Foundation.
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