How To Buy Homes In Orland Park, IL

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Purchasing a home is a significant investment, and you don’t want to feel lost or overwhelmed. My goal is to help you clearly understand the steps involved in buying a property in Orland Park or the surrounding Chicago suburbs. The last thing you want is to begin the process only to feel confused or anxious. That’s why this video will cover everything from getting pre-approved for a mortgage to finding and purchasing the right home.

If it’s your first time here, my name is Moe Hussein, and I’m an Illinois realtor specializing in the south suburbs. This video will focus on the logistics and steps you need to take when looking for a home in Orland Park. I will go through a lot of different suburbs and break down nice, special, unique things about each suburb in the later videos.

Let’s start with the first step: getting pre-approved for a mortgage. Imagine you begin the process, start browsing homes, or even contact me to show you some properties. You might find a house you fall in love with, picturing your future there, whether it’s for starting a family or downsizing. But then you realize you can’t afford it or get approved for a loan that matches the price. It’s incredibly disappointing and frustrating. To avoid this, you should get pre-approved first. Without pre-approval, you might waste time and resources looking at homes that are out of your budget. It’s also important to know that getting pre-approved doesn’t have to be a daunting process. There are many excellent mortgage brokers who can help you through it without significantly impacting your credit score or compromising your personal information.

You need to answer some key questions upfront to avoid major hassles down the road. Thankfully, the process of getting pre-approved has become much simpler and quicker. Investing a bit of time now to get pre-approved can save you a lot of stress and disappointment later. I can connect you with some amazing lenders who will ensure you’re genuinely pre-approved. These lenders are excellent communicators who will guide you through each step, explaining what you can afford, your monthly payments, and the various costs involved in getting a loan and buying a home.

The next step, which can happen either before or after getting pre-approved, is meeting with a licensed real estate expert. Especially if you’re looking in areas like the South Suburb area like Orland Park. Whether you meet with the agent first or get pre-approved first, this step is crucial. I would highly recommend getting preapproved. We’ll discuss your specific needs and preferences—whether you’re looking for a three or four-bedroom home, two full baths, a two-car garage, or features like a pool, or hot tub. This helps me tailor the search to find properties that truly match what you’re looking for. Unlike some Realtors who might hesitate to mention it, you can also look for properties on platforms like Zillow and Realtor.com.

Another important aspect of getting pre-approved is understanding your budget. If your pre-approval limit is $400,000, we’ll focus on properties within that price range. If your desired features exceed this limit, we may need to reconsider some of your wants, look in different markets, save more, or consider buying a property you can improve over time. Additionally, we should consider factors beyond the house itself, such as the location, proximity to stores and restaurants, retail options, rural versus urban settings, availability of sidewalks, quality of school districts, and closeness to churches, recreation centers, and outdoor activities. These elements are essential since they will impact your lifestyle for years to come.

Step three is going out to view homes. If you’re relocating from another state, we can start with virtual showings like FaceTime. Once you love what you are seeing, you can visit and take a look at the property. So, we will basically meet at the property and tour it together. I’ll provide information on what similar homes in the neighborhood have sold for and explain why a property might be priced higher or has been on the market longer. I’ll answer any questions you have since each home has its unique details. This process can take a few weeks, or sometimes, you might fall in love with the first home you see.

Step four involves writing an offer, a critical point where your realtor’s expertise is invaluable. The market conditions will shape our approach. In a seller’s market, offers need to be competitive, possibly above the asking price with few requests. In a buyer’s market, we can negotiate for concessions, and help with closing costs, or repairs.

We’ll draft the contract together, detailing the closing date, price, earnest money, and contingencies for financing, inspections, and appraisals.

Once your offer is accepted, you’ll deposit earnest money and enter the attorney review and inspection period. During attorney review, both attorneys check the contract for necessary adjustments. I’ll help you arrange an inspection to identify any issues, from minor repairs to significant concerns like roof damage or mold. Addressing these early helps avoid big expenses later and ensures you’re prepared for future fixes.

CALL TO ACTION:

So now that I have told you about the 4 Steps of what it’s like to buy homes in Orland Park. I want you to watch this video next, where I tell you the best home buyer’s checklist for buying a home. So catch you on that video next.