Page 61 - August 2018

A contribution from a Chicago Lodge 7 Magazine sponsor
Five things to know when buying a home
Your trusted real estate broker is there to make the homebuying process efficient, exciting and
your broker will always aim for the most stress-free route.
The timing of your closing may help reduce upfront costs
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all positive experience for you. But
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Closing at the end of the month may result in lower immediate costs. Since mortgages are paid in arrears, closing at the start of a month means you’ll be respon- sible for pre-paying the interest for the remainder of the month. For example, if youre closing is scheduled for Sept. 1, you’ll owe the entire month’s interest up front. If you were to close on Sept. 27, you’d only be re-
sponsible for the remaining three days.
Build a team you can trust
The homebuying process takes time. Partnering with the right broker and lender will make the process much easier for you. And don’t forget — your broker is just as invested in the journey as you are. He or she wants you to find the home of your dreams!
Don’t feel overwhelmed by your homebuying journey. Part- nering with a trusted real estate broker means you’ll be draw- ing on his or her expertise and knowledge to find your perfect home. d
Lisa Sanders of Dream Town Realty has been selling real estate for more than a decade, averaging at least 50 homes per year. Her awards include the Chicago Association of Realtors’ Top 1% Pro- ducer, Five Star Professional Award for exceptional client service, and #1 Realtor in 60631.
there are a few things that brokers wish their clients knew before they set out on their real estate journey.
Big changes can affect your ability to get a loan
Job transitions and large purchases can ad- versely impact your ability to secure financing. Lenders have requirements regarding job history
and stability and may even run a final employment and credit check just before closing. It’s best to hold off on any major fi- nancial decisions until after you close.
A little research always pays off
Neighborhoods can look and feel different at various times of the day. It’s always a good idea to get out and experience a neighborhood when considering a move. Check out a local cof- fee shop, grab dinner at a cool new restaurant — get a feel for the area day and night. And who knows, you may even stumble across your future go-to place.
It’s not always smooth sailing
With multiple parties involved, it’s not always going to be a seamless process. If a seller is purchasing a new home and that purchase is delayed, it could set off a domino effect. It’s always best to be prepared for a few bumps along the way, though
Real Estate
LISA SANDERS
61 CHICAGO LODGE 7 ■ AUGUST 2018