* Ginny Leamy Team - Buyer's Guide

* Ginny Leamy Team - Buyer's Guide

Buyer’s Guide

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So you want to buy a home!

Well, it’s not as complicated as you may think, however, there are quite a few steps involved. Early understanding and preparation will make this process simpler.

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1 Get pre-approved for a mortgage

This will allow you to know your maximum buying power, as well as all the costs involved in purchasing a home.

RECOMMENDED LENDERS

Loan Depot Pat Cannone Senior Mortgage Banker Cell: 630.965.8138 [email protected]

Stonehaven Mortgage Mike Wieczorek Cell: 630.546.9486 mwieczorek@ stonehavenmtg.com

You are welcome to use the lender of your choice, however, I have used the above-referenced lenders for years and highly recommend them.

Now that you know your price range…

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2 What are you looking for?

Single-family home, townhome or condo?

Buying your first home, upgrading or downsizing? What type of home would fit your needs, and what MUST you have in your new home? Make a list of “Must Haves”, “Would Be Nice,” and “Would Flip My Lid”. Include bedrooms, baths, style, additional rooms, garage, lot size, exterior, and other amenities. Don’t be afraid to change your mind during the search, it’s difficult to know what you want until you start looking.

Now that you know what you want…

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3 Where do you want to live?

4 What is your time frame?

Make a list of the areas you are interested in living. Consider proximity to work, friends and family as well as schools, hospitals, train accessibility, expressways, home prices and taxes. If you are interested in a town out of my area, don’t worry, I will find you an Agent there who can assist. Each area will offer you a variety of home types and styles. We can determine quickly if an area will fit your needs and price range.

Do you have a lease, have you sold your home, are you switching jobs, is a baby due? You need to have a date in mind that you want to be in your new home. I will be able to guide you on those dates.

Now that you know when you want to move…

Now that you know where you want to live...

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6 Let’s make an offer!

Once you’ve seen the “right” home, we need to put an offer in writing.

At this point, we will be putting our requests in writing for you to electronically sign and the seller to review.

5 Let’s look at properties!

This will include:

• Type of financing and down payment • Closing date • Personal property to be included • Earnest money to be deposited • Home inspection • Price we are offering • Possession • Other contingencies

After we choose a group of homes, we will set an appointment to look at them at your convenience.

Plan on a couple of hours our first time out. On this day, you’ll get a feel for that marketplace as well as the community. Be sure to give me feedback, this is important. It’s the only way I can figure out what you like and don’t like. We will make as many additional appointments to see homes as necessary. This is the largest purchase you’ll make. It needs to feel right. You’ll probably know it’s the right house when you walk in. Don’t think about it too much. You’ll know it when you see it.

When we have completed the paperwork, I will present the offer to the Listing Agent in order for it to be presented to the Seller. The Seller has three options after reviewing our offer:

ACCEPT | REJECT | COUNTER

Now that you’ve found your “dream” home…

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7 We all agreed!

Most often, we will get a counteroffer. This process is called negotiating. This process could take a couple hours or a couple days. You need to be ready to make your decisions now. This is not the time to “test the water”. It is the time to “jump in and swim”. If you’re buying the home with another person, you need to be “on the same page” and in the same mindset. Communication will be crucial. You need to discuss things together and keep me informed of your thoughts and ideas. We’ll discuss this more when the time comes.

Congratulations - you’ve bought a house! Now the fun begins.

Within the first 5 days after the contract is accepted we have some critical things to get done.

Attorney Review

We have 5 business days to have the attorneys review the contract and make any modifications he/she feels is necessary.

RECOMMENDED ATTORNEYS

Joerg Seifert 630.832.2333 100 S York Street, #200 Elmhurst, IL 60126 [email protected]

Dean Galanopoulos 630.832.6666 340 West Butterfield Road Elmhurst, IL 60126 [email protected]

You are welcome to use the attorney of your choice, however, I have used these attorneys for years and highly recommend them. Attorneys charge between $600-$700 per transaction and will bill you at the closing.

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Home Inspection

You have 5 business days after acceptance to do a home inspection. This is a buyer’s expense. You are looking for major deficiencies in the home; (i.e. problems with the roof, furnace, central air conditioning, appliances, electrical, plumbing, etc.) An important part of this paragraph in the contract reads: “The home inspection shall cover only major components of the Real Estate, including but not limited to, central heating system(s), central cooling system(s), plumbing and well system, electrical system, roof, walls, windows, ceilings, floors, appliances, and foundation. A major component shall be deemed to be in operating condition if it performs the function for which it is intended, regardless of age, and does not constitute a threat to health or safety.

“BUYER AGREES MINOR REPAIRS AND ROUTINE MAINTENANCE ITEMS ARE NOT A PART OF THIS CONTINGENCY.”

RECOMMENDED HOME INSPECTOR

Castle Home Inspection Service 630.462.1050

They charge approximately $500-$700, which is due at the time of the inspection. There is an additional charge for a radon test or termite inspection. We can discuss this in more detail later. If we have any major deficiencies we will contact your attorney, and he/she will write a letter to the seller’s attorney regarding your concerns. At this point, we need to come to an agreement between both parties.

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8 Formal loan application

9 Earnest money

Call your lender and make another appointment.

Earnest money is like a security deposit, which demonstrates to the seller your intentions of fulfilling your part of the sales contract. It is generally payable at the time the contract is accepted or within the first 5 business days. This money will be deposited in an escrow account to be used as part of your down payment and closing costs. These funds should be “seasoned” in your account prior to purchasing. If the money just “appears” the lender may question its origin. A personal check is acceptable, although a cashier’s or certified check would suffice.

You will need to bring him a copy of the contract, as well as any other documents he needs to continue your loan application. At this time, there could be a fee of approximately $500 and you will have the opportunity to lock in your interest rate. This will cover the cost of the credit reports and the appraisal fee of your new property. You must do this in the first seven calendar days after the contract is accepted.

IMPORTANT

DO NOT make any “BIG TICKET” purchases, DO NOT cosign a loan for anyone, and DO NOT change jobs during this process!

This will change your qualifications and probably result in a LOAN REJECTION just before closing. Also, be sure to keep all of your “MONIES” in an account with a paper trail, which can be followed. Cash under your mattress or in a cookie jar is difficult for a lender to use and prove as yours.

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10 Quiet time

11 Final walk-through

The next several weeks will certainly quiet down.

A few days before the closing, we will do a final walk-through of your new home. This is just a final check to be sure there have been no “changes” in the home since we last saw it, and that everything is in working order.

Your activities will include, supplying the mortgage company with any additional information they need in order to give you a final loan approval, setting up service with utility companies and final readings on your current accounts, lining up movers, and packing. Don’t wait until the last minute - the time will fly by and you will be up all night the day before closing filling boxes haphazardly. You also need to get your homeowner’s insurance. Use an insurance company of your choice. You will need to bring a copy of your insurance policy and the paid receipt to the closing. This should cost between $800-$2000 a year.

12 Final figures

The day before closing, or possibly the morning of the closing, you will be called by your attorney’s office and given the “final figures”. This is the “official” amount of money you will need to bring to closing. Depending on how much this is, you will need to wire the funds to the title company where the closing will take place or bring a cashiers check. Confirm with your attorney. Be sure to bring this “money” in the form of a cashier’s or certified check made payable to yourself. If you bring more than you need, you will get a check back for the difference at the closing.

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13 The closing!

This is the second to the last step of your home buying experience. The attorneys will set the closing attempting to fit everyone’s schedule. If you have a time preference please let them know during the attorney review period. The closing takes approximately 1 to 2 hours. This is when you will sign all of the loan documents which gives you the money (mortgage) to buy the home, as well as the seller’s documents which transfers ownership of the home to you. Be prepared for writer’s cramp. There are a lot of documents to sign, all of which are very necessary to the transaction. Your attorney will explain to you what you are signing. He/she will also explain the other documents which he/she has researched, approved and prepared during the weeks prior to the closing. If you have any questions, please ask at that time. You can bring a cashier’s check if you need less than $50,000 total. If more than that, you will need to wire transfer the money. Please call your attorney for details. In addition to the cashier’s or certified check, you’ll need to bring any information the lender requested you to bring to the closing, as well as your driver’s license, your personal checkbook and your homeowner’s insurance with the paid receipt.

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15 Change the locks

14 Time to move!

As a safety tip, I would recommend you change all of your new home’s locks as soon as possible.

Whether you’re using professional movers, or your “beer & pizza” friends to move you, it always takes a little longer than you think. Be prepared. Pack a box of essentials ahead of time including such things as:

Over the years, past owners have probably given keys to friends and family for various reasons. Be Smart!! Change all your locks. A locksmith may simply be able to reformat the tumblers and cut you new keys instead of replacing each lockset.

Toilet paper Water A box cutter Packing materials and tape A marker Petty cash Important phone numbers Cell phone and phone charger Aspirin Paper towels

RECOMMENDED LOCKSMITH

24/7 Chicago Locksmith, LLC 312.878.2715

Screwdriver set Tape measure

These items will come in handy!

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Ginny Leamy

• Licensed Illinois Real Estate Agent since 1986, joining Coldwell Banker till 2019 when she joined Compass • Ranked nationally by Wall Street Journal/Real Trends Top 1,000 agents in the country in 2009-2019 • Ranked by Chicago Agent Magazine in Top 20 Highest Producing Agents in DuPage County in 2014 • Ranked #1 in DuPage for total closed units in 2015 • #1 Coldwell Banker Elmhurst agent for total sales volume and total closed units for 1995-2018 • Consistently achieved over $30 million in closed sales volume and over 130+ units per year, over $400 million sales lifetime • Member of Coldwell Banker’s International President’s Premier Club 1997-2018 • Team Lead and Founder of Elmhurst Compass Office

Meet the Ginny Leamy Team

MY EVOKER FILM ginnyleamy.com/meet-ginny

ZILLOW REVIEWS bit.ly/leamyteamreviews

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Cathy Cundiff

Taji Clark

• Full-Time Buyers and Sellers Agent • Licensed Broker Associate in the State of Illinois since 2006 • Co-host of MakingRealEstateFun.com • Chicago suburban area resident • Real Estate Investment and Property Management Specialist • Over 10 years experience in Marketing and Business Development • Home Based Business Strategist

• Full-time licensed Broker Associate in the State of Illinois since 2000 • Buyer and Sellers Agent • Lifetime Chicago suburban area resident • Certified Staging Specialist • Certified Negotiation Consultant • Consistent multi-million dollar producer, over $17 million career total sales • Leamy Team Rookie of the Year 2001 • Her community service includes Cheer Director for Leyden Bears, area Precinct Captain, PTA/school volunteer and area Toys for Tots Annual Drive

• Business and Personal Success Coach/Trainer • Social Media and Web Branding Strategist

Gana Raman

Rosemarie Lowery

• Licensed Broker Associate in the State of Illinois since 2012 • Buyers and Sellers Agent • Chicago suburban area and city resident

• Full-time licensed Broker Associate in the State of Illinois since 1997 • Buyers and Sellers Agent • Experienced Rental Property Agent • Lifetime Elmhurst resident • Transaction Coordinator • Graduate of Elmhurst College with BS degree in Marketing and Economics • Over 10 years experience in the Home Improvement Industry as a Corporate Merchandising Assistant

• Real Estate Investment Specialist • Property Management Specialist • Local Small Business Owner • Avid Triathlete

Linda Wellington

• Full-time licensed Broker Associate in the State of Illinois since 1993 • Buyer’s and Seller’s Agent • Lifetime Chicago suburban area resident • Transaction Coordinator

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Our Teams Five Star Reviews Testimonials

Cathy Cundiff –

“Cathy is the Best! My husband and I bought our first home with Cathy, and we couldn’t have done it without her. She taught us so much. She has a fun and positive attitude the entire time. She also tells you her true opinion on a prospective home and it’s very helpful. I would recommend Cathy to absolutely everyone. She made buying our first home unforgettable!” “Cathy was such a pleasure to work with. From the start of the home search, we never felt pressured in any way. She responded to emails/texts within minutes throughout the whole process. She was readily available to show houses we were interested in during times that fit our schedule. Our family will never buy a house without her by our side.”

Ginny Leamy –

“Excellent experience. Ginny’s team handled all the legal paperwork and were in control from beginning to end. They handled the negotiations and any hiccups during the process. Her team took out any complications of the buying process. It was very, very simple. Ginny is a seasoned professional and an absolute pleasure to have as an agent! Thank you!” “She is awesome, on top of everything. I loved working with her and would again in a heartbeat. I would recommend her to anybody who is buying or selling a home. Very knowledgeable, available to answer any questions whether it was through text or on the phone.”

Rosemarie Lowery – “Rosemarie was just great to work with! She responded immediately to any phone call, text or email. She made us feel at ease thoughout the whole process. So glad we had her!”

“Rosemarie did a great job! She really listened to what we were interested in and was there to support us through the whole process.”

“If you want your dream home Ginny Leamy is the person for you. She gets the job done. She’s very helpful, very nice and walks you through the process step by step. I will definitely recommend Ginny to all of my friends and family.”

“It was a pleasure working with her and we are thrilled with our new home & town.”

“Ginny was amazing! Very knowledgeable and got me the perfect first house just in my budget. She guided me through all of the steps and made sure everything was as smooth and easy as possible. I would recommend her to anyone looking to buy or sell their home! Nothing but a positive experience!”

Taji Clark –

“Ginny was highly professional and an excellent advisor and negotiator on our behalf. Ginny got us great deals on both ends buying/selling and she was fun to work with.”

“Taji was amazing to work with. He takes time to ask the right questions in order to understand his clients. He did this exact thing with us and was able to understand our needs and concerns. Taji is quite compassionate and knowledgeable.”

“Ginny is the best realtor! She knows what she’s doing and does it with ease! She helped us sell our home and find our new perfect home! I highly recommend her.”

“He blends these two skills together seamlessly to support both the buyer and seller. It was an amazing experience to work with someone on his level.”

“Ginny was awesome! She worked day and night to help us and make selling and purchasing a house as easy as possible. We will definitely use her for any future selling or purchasing and will refer her to anyone we know.”

“Taji worked with me for 3-4 months checking out many sites before finding the place to lock in on. Never once rushed me and always had needs prioritized. Working with him was great from start to close!”

“She’s amazing at what she does. I’m going to recommend her always. She showed me properties and actually gave me some really helpful advise. Ginny also showed me issues I didn’t realize that were there. She was very honest.”

Linda Wellington – “Linda is a kind and caring realtor. She does lots of research and is very detail oriented to get the customer the best deal on the right house. We will work with her again and have referred her to others.” “Linda is very pleasurable to work with. She showed patience with us as we looked at numerous houses. When we found the house we liked, she was very diligent with the whole process of the sale. We would recommend her to your real estate purchase.”

Gana Raman –

“Gana was the perfect fit for my wife and I as we are both no-nonsense type of personalities. We were also both very particular about what we were seeking and Gana didn’t try changing our minds to get a quick buy, but instead went out and found what we were looking for. His advice and guidance during negotiations helped us save good money while also making us feel good during what can be a stressful stage of home buying. Honest and clear communication as well as his patience and ability to empathize with what we wanted are his star qualities.”

“Our experience with Gana was amazing! He was attentive and flexible. He understood exactly what we wanted and definitely delivered. We are so grateful. “

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Ginny Leamy 708.205.9541

Cathy Cundiff 847.721.0244

Rosemarie Lowery 630.542.3639

Taji Clark 331.202.1604

Gana Raman 847.922.3456

Brent Terry 630.877.7113

Linda Wellington 630.251.5974

[email protected] • ginnyleamy.com

Compass is a licensed Real Estate broker with a principal office in Chicago, IL and abides by all applicable Equal Housing to errors, omissions, and changes without notice. All measurements and square footages are approximate. This is not intended

Opportunity laws. All material presented herein is intended for informational purposes only, is compiled from sources deemed reliable but is subject to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of Real Estate

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brokerage. 103 Haven Rd #1, Elmhurst, IL 60126.

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