One of my recent first time Vernon Hills buyers had many questions after I found them their perfect dream home. They inspired me to write this post to explain the next 8 steps of what happens from the time you sign the Vernon Hills real estate contract until you actual close.
Congratulations! The sellers accepted your contract and I am so excited you have finally found the perfect home. Is my job as your Vernon Hills realtor job over? 
Just the opposite... My job as your Vernon Hills Realtor has just begun. I will be by your side during each of the below 8 steps ... until you sign the papers at closing and you walk away with the keys.
Remember, we are a team and I will help you make the next few months as stress free as possible. Below are the next 8 steps in helping your signed real estate contract actually turn into a closed transaction.
1. First I will make certain both your attorney and lender receive a copy of the real estate contract. If you don't have an attorney, I have recommendations of attorneys that are both reasonably priced, responsive and ensure that a successful closing will take place. I always like to be copied on all correspondence, so I am knowledgeable of the transaction every step of the way. You can check out my website at www.buffalogroveareahomes.com for suggestions of the best real estate attorneys.
2. I will advise you to schedule a home inspection next - and of course I have recommendations for a reliable inspector who will inform you of the current condition of the home.. Again you can check out my website at www.buffalogroveareahomes.com for a recommendation of a thorough inspector. The home inspection needs to take place within 5 business days from the date the contract is signed. Most of the time, I recommend a radon inspection at the same time. Depending on the size of the home the inspection can take 2 to 4 hours.
After the inspection is completed, the inspector will provide you with a report which he or I will forward a copy to your attorney. Your attorney will review the report with you and will make recommendations as to what repairs should be requested from the seller as well as what is required under the contract. I will also discuss this with you and make my recommendations.
3. The attorney review period is typically the same 5 business days from the date the contract is signed. Your attorney will review the contract with you during this time frame and may make suggestions to modify the contract to better protect your interests.
4. You should contact an insurance company as soon as possible to arrange for your purchase of homeowner's insurance. You have ten days under the contract to make sure you can obtain insurance at a reasonable cost. If you need flood insurance you must verify this now. Your lender will require you to pay one full year of homeowner's insurance premiums prior to the closing, with the receipt to be brought to the closing. Have your insurance agent fax a copy of the paid receipt directly to your lender as well.
5. Notify your present utilities (if applicable) and arrange for services at your new address approximately 2 weeks prior to the closing. This includes gas, electric, water, cable and phone. Don't forget to cancel or transfer deliveries, newspaper, magazines, garbage collection, etc.
6. Prior to closing, we will conduct a final walk through to make sure the home is in the same condition as it was when the offer was made and that all home inspection issues have been resolved. This is typically done the day before or the day of the closing. I will contact you to schedule the walk through.
7. The closing time and date will be set by the attorneys based upon their schedules and the availability of the title company representative. As the buyer, you will need to bring your driver's license or picture identification, as well as the paid receipt for your homeowner's insurance. Your attorney will instruct you on how to find out the amount of money to bring to closing, where the closing will be located, and what you need to bring.
8 .After closing if you want to paint, remodel, or make any other updates, I can give you recommendations as to vendors who either myself, my friends or my past clients have used.
The above post,Vernon Hills Realtor explains that the signed real estate contract is just the beginning was written by the Judy Greenberg Group at Coldwell banker
If you would like more information about the Chicago Northwest Suburbs,including Kildeer, Libertyville, Buffalo Grove, Lincolnshire, Long Grove, Vernon Hills, and Lake Zurich please do not hesitate to call me at 847-602-5435 or email me at info@buffalogrovehomes.com
My websites, www.movetolonggrove.com , www.buffalogroveareahomes.com, and www.vernonhills.homes-for-sale.com will provide you all the information regardless as to whether you are a potential buyer or seller!
Wow, your post really drives home the point that (particularly for first time buyers) the TV shows are not enough - it takes the local agent to know what steps must be done for your market. In our market, attorneys are rarely involved with real estate transactions; in some markets, though, the attorney is the one who writes the purchase agreement. Very important that a buyer (and seller) have a local agent who is familiar with the process as it applies to THEIR LOCAL MARKET. Great post, thanks for sharing.
Judy, great outline of the process in that the signed contract is just the beginning.
This is exactly why you're one of the best of the best. I wish that you lived closer so that I could give you more referrals. I do, however, have you on my refer list and will get you one. I trust my clients with you completely J! Tear it up!