Home Buyer Booklet

ARE YOU READY TO FIND YOUR NEW HOME?

As your Berkshire Hathaway HomeServices real estate broker, understanding
and achieving your real estate goals is my highest priority. Neighborhood
knowledge and market insight, along with outstanding personal service,
are the cornerstones of my business. As part of one of the leading
brokerages in the Chicagoland area, I can offer you an impressive array of
sophisticated technology tools to achieve your Real Estate Goals. Whether
you are buying or selling, I will provide guidance at each step of the way.

ABOUT AMY

I grew up in Hinsdale and am now raising my three children with my
husband in Western Springs. I attended Hinsdale Central High School and
spent my undergraduate years in the Business School at Indiana University.
I then worked in the financial industry while living in downtown Chicago
for 10 years . When we started our family, I was thrilled to move back
to the Western Suburbs and start my Real Estate Career in 2003. I am
very involved in the community, my children’s activities, the local school
districts, social clubs, as well as local charitable organizations. I love helping
my friends and neighbors find their “next” home as well as welcoming
new families into the area. I reside and specialize in the Western Suburbs
because I really do think it’s the best place to live in the Chicagoland area.
I believe having a local agent is critical in every real estate transaction and
an important resource to have after your closing. As your agent, neighbor,
and friend, I offer “local expertise before AND after the sale”.

I’m looking forward to helping! Here is how we get started...

Amy Avakian

HOME SEARCH

STEP #1: YOU WANT TO BUY

SET-UP A MEETING
• One-hour meeting with me, your real estate agent.
• Discuss the home buying process.
• Discuss needs, wants and must haves.
• Develop an action plan.

TOTAL REPRESENTATION
• Sign exclusive representation agreement.
• Important to understand the various agent representation/relations:

BUYER’S AGENT: represents only the home buyer’s best interest
throughout the home buying process. Seller pays buyers’ commission.

SELLER’S/LISTING AGENT: represents only the home seller’s best
interest through the home selling process.

DUAL AGENT: represents both the buyer and seller ethically and
honestly, safeguarding the confidentiality of both clients. Seller
pays commission.

FREE TOOLS & RESOURCES

• HomeSnap • Private MLS • HomeMap
• Lending App • BHHS Reports • DocuAgent
• InTouch • Remine
• MLS • Pocket Listing 1

STEPS FOR HOME BUYING

STEP #2: DEVELOP A PLAN

STEPS FOR A SUCCESSFUL PRE-APPROVAL
1. Apply for a pre-approval

• I can recommend a mortgage professional.
INFORMATION COVERED DURING THE PRE-APPROVAL PROCESS
• Range of purchase price/down payment.
• Income verification, credit history and asset information.
• Determine a monthly payment comfort level.
• Budgeting for closing costs.

2. Start gathering documentation:
• 1–2 month(s) of pay stubs
• 2 years of W2’s/1099’s/K1’s
• 2 years of 1040’s (tax returns)
• 2 months of broker/bank statements (checking, savings, 401K’s, etc.)

3. Know your buying power

DETERMINE YOUR NEEDS
• Set maximum home buying price, location and criteria.

PROPERTY SEARCH
• Set up a town tour date.
• Customize search for homes that meet your needs.
• Track homes from private listing network and local agent outreach.
• Outline the “pros” and “cons” of each property to narrow your search.

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STEPS FOR HOME BUYING

STEP #3: YOU FOUND THE
PERFECT HOME

YOU FOUND A HOME
• Review and analyze recent comparable sales information.
• Determine fair value for the home.
• Discuss contract terms.
• Submit offer.
• Negotiate terms to mutual agreement.
• They accepted our offer!

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STEPS FOR HOME BUYING

STEP #4: YOUR OFFER IS ACCEPTED

HOME INSPECTION — CONTINGENCY #1
• Provide recommendations for reputable inspectors.
• Schedule inspection within the first 5 days of attorney review.
ATTORNEY REVIEW — CONTINGENCY #2
• Review is done within the first 5 days after acceptance.
• We have 5 days after inspection for the attorney to review

the accepted sales contract and handle legal notifications of
inspection issues.
MORTGAGE CONTINGENCY — CONTINGENCY #3
• Apply for written mortgage application.
• Provide evidence of a written mortgage commitment letter.
• Property marked “Contingent” in MLS.
• Earnest money is due.

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STEPS FOR HOME BUYING

STEP #5: YOUR LOAN IS APPROVED

AFTER LOAN APPROVAL
• Once you receive clear to close from lender, the attorney will schedule

closing with seller attorney.
• You will receive a Closing Disclosure from lender at least 3 days prior

to closing, reflecting the actual terms of your loan transaction, as well
as the final amount due (closing costs).
• Notify utilities and change to your name.
• Notify insurance company.

STEP #6: CLOSING DAY

SET-UP A FINAL WALK THROUGH
• Schedule within 48 hours of closing (ideally).

CLOSING
• Attorney and I will attend the closing with you and review all documents.
• We will receive keys and celebrate!

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MEET THE TEAM

AMY AVAKIAN, REAL ESTATE BROKER

Berkshire Hathaway HomeServices Chicago
35 South Washington Street | Hinsdale, IL 60521
Cell (312) 925-5402
[email protected]
www.BHHSChicago.com/AmyAvakian

MARC CHURHILL, MORTGAGE CONSULTANT

NMLSR ID: 686533
Mortgage Consultant
Prosperity Home Mortgage, LLC
980 North Michigan Avenue, Suite 700 | Chicago, IL 60611
Office (312) 268-0661 | Cell (312) 953-5316
[email protected]
MarcChurchill.phmloans.com

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Prosperity Home Mortgage, LLC Legal Disclaimer as of 05/29/19 | PHM | All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.
Licensed by the Delaware State Bank Commissioner.Also licensed in Alabama,Arkansas,Arizona, Colorado, Connecticut, District of Columbia, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode

Island, South Carolina,Tennessee,Texas,Virginia,Washington,West Virginia, and Wisconsin. NMLS ID #75164 (For licensing information go to: NMLS Consumer Access at http://www.nmlsconsumeraccess.org/) ©2019 Prosperity Home Mortgage, LLC.

STATE ABBREVIATIONS for shortened disclosure …is licensed by the NJ Department of Banking and Insurance. Licensed by the Delaware State Bank Commissioner.Also licensed in AL,AR,AZ, CO, CT, DC, , FL, GA, IL, IN, KS, KY, MA MD, MI, MN, MO, MT, NE, NC, OH, OK, OR, PA, RI, SC,TN,TX,VA,WA,WV and WI

©2020 BHH Affiliates, LLC.An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Equal Housing Opportunity. Plans,
materials and specifications are based on availability and subject to change without notice.Architectural, structural, mechanical, electrical and other assemblies may be revised, as deemed necessary by the developer, architect or as may be required by law. Floor plans are approximate and are for marketing purposes

only.All information provided herein deemed reliable.