Buyers Guide

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FINDING HOME, TOGETHER.

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We are Fulton Grace, one of Illinois’ fastest-growing residential real estate firms. Our vision is to inspire growth, achieve shared success, create boundless opportunities and approach every situation with personalized support. After 2008’s financial crisis left the real estate market in a state of deep uncertainty, Fulton Grace saw an opportunity to work with homeowners and tenants by offering apartment rental and property management services in Chicago. When owners couldn’t sell their properties, we offered an alternative solution to weather the bad market. We secured quality tenants for our clients and professionally managed their properties until the sales market rebounded. Once the market began to improve, Fulton Grace rapidly expanded its services to include working with buyers, sellers and investors. Today, Fulton Grace is proud to offer its clients a full suite of residential real estate services—property management, sales and rentals in Illinois, Arizona, Florida and Wisconsin. Our real estate brokers and staff are amongst the most intelligent, happiest and hardest working professionals in the industry. They share a collective mission—to provide unparalleled customer service with cutting-edge tools and in-depth, local knowledge. Fulton Grace brokers work to build lasting and meaningful client relationships. It is their highest priority to be the best advisors possible and to ensure their clients reach their respective goals. A passion for excellence and strong commitment to our clients drives our continued growth and is at the core of the Fulton Grace brand. FULTON GRACE REALTY A STORY OF CONTINUED SUCCESS

We would be honored if you let us put our commitment and experience to work for you.

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ALWAYS GROWING

Our exponential growth has been honored by the prestigious Crain’s Chicago Business Fast50, which recognizes the fastest-growing companies in Illinois. Additionally, we have been honored on the Inc. 5000 list every year since 2015. This award recognizes the 5,000 fastest-growing independently-owned companies nationwide! We have achieved such astounding growth through the amazing efforts of our talented team and the unwavering support of our expansive and loyal client base.

10-Time Honoree

5-Time Winner

Recognized on Nation’s Best Brokerages List

Two-Time Honoree BE PLACES TO WORK

Two-Time Honoree

GETTING NOTICED

Don’t just take our word for it. Fulton Grace and its brokers have been featured in countless local and national periodicals, such as NBC Chicago, Chicago Magazine, Chicago Tribune, and Chicago Broker Magazine, as leaders in Illinois residential real estate.

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GIVING BACK

We regularly coordinate in-office toy, clothing and food drives and even blood drives. We embrace opportunities for our staff and brokers to come together and volunteer at local food pantries and donation centers. Fulton Grace also makes frequent financial donations to local charities to support the vibrant communities in which we serve.

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OUR OFFICES

At Fulton Grace, we’re locally grown and proud of the deep roots we’ve planted in our communities. We remain highly active in our local real estate markets and neighborhood associations, keeping us grounded and abreast of ever-changing conditions. Our strong local presence allows us to better serve our clients. Numerous intentionally designed and strategically placed offices spread the essence of Fulton Grace throughout our communities. Whichever Fulton Grace office you visit, you will be greeted with a smile and offered the highest level of guidance and advice. Our brokers are always available to help our neighbors in “Finding Home, Together.”

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SUPERIOR BROKERS

COACHING & EDUCATION

OUTSTANDING CUSTOMER SERVICE

Our brokers receive thorough training coupled with advanced ongoing education opportunities. They’re continually sharpening and expanding their skills every day. The end result—advanced, savvy and knowledgeable brokers ready to guide you through your home purchase.

We don’t just get the job done. We go over and above to give our clients the best possible experience along the way. We are proactive, provide regular feedback, thoughtful recommendations, and a genuine passion to give our clients 110%.

COMPREHENSIVE TOOLS

PROVEN EXPERIENCE

Fulton Grace brokers are among the top brokers in Illinois. Years of collective experience, knowledge and wisdom create an exceptional client experience.

We provide our brokers with cutting-edge tools to market properties, stay connected and streamline processes, allowing our brokers to stay focused on what’s most important—serving their clients.

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Consult a Fulton Grace real estate broker for professional referrals (attorney, lender, etc.) 1 | ESTABLISH YOUR TEAM

Learn the homebuying process from beginning to end 2 | ESTABLISH YOUR PROCESS

10 STEPS FOR BUYER SUCCESS

3 | AGREEMENTS

Execute exclusive buyer-broker agreement, review a contract for purchase and understand disclosures

4 | STRATEGIZE

Build a market-based offer strategy to meet or exceed your goals

5 | COMMUNICATION

Gather and discuss feedback throughout the showing and purchase process

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6 | OFFERS

Create and negotiate offers utilizing a market- based approach

7 | ACCEPTANCE

Secure accepted and executed contract!

Secure financing within the stipulated time 8 | FINANCING CONTINGENCY

Begin the process of choreographing the move of your home to its next location 9 | THE MOVING PROCESS

10 | CONGRATULATIONS

Contract closes! Move into the next phase of your life!

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MARKET EDUCATION & PREPARATION

Identify your team of professionals: Your Fulton Grace broker, real estate attorney, mortgage lender, home inspector, and moving company

Execute a broker agreement per local and federal law

Learn the steps of obtaining a mortgage

Speak to a preferred mortgage lender to begin the mortgage pre-approval process

Discuss the conditions of the current real estate market for buyers nationally, regionally, locally and within your “personal” market

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FINANCING OVERVIEW

The lender will obtain your credit report and preliminary financial information

Obtain a pre-approval letter from the lender

Once you are under contract for a home purchase, you and your broker will provide the lender with the signed real estate contract and disclosures You will supply the lender with all of your detailed financial information, including the completed loan application, tax returns, bank statements and any other information requested by the lender

The lender will schedule an appraisal of the property, coordinated through the seller’s listing broker

The lender will request a condo questionnaire from the condominium association (if applicable), which will contain certain relevant information about your purchase A “clear to close” notification will be provided by the lender, which is an unconditional mortgage approval and the last step in the financing process!

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UNDERSTANDING YOUR NUMBERS

SELLER EXPENSES

TYPICAL COST

COMMISSION

NEGOTIABLE

ATTORNEY FEE

$600 - $1,000+

TITLE INSURANCE (SELLER)

$2,000-$3,500*

RECORDING FEE

$75 - $250

MUNICIPAL TRANSFER TAX

VARIES

STATE TRANSFER TAX

$1.00 per $1,000 of sales price

COUNTY TRANSFER TAX

$.50 per $1,000 of sales price

SURVEY

$500 - $1,000**

WATER CERTIFICATION

$125 - $150

ZONING CERTIFICATION

$175 - $200

PROPERTY TAX CREDIT TO BUYER

105 - 110% of last tax bill

MANAGEMENT COMPANY PROCESSING FEES

$250 - $500***

The figures above are intended to give you a general idea of costs and could be less or more then the amounts stated. Actual costs vary per lender, loan amount, property type and other factors. *Title insurance premiums vary depending on the size of the sales price. **Not applicable for condo sales. ***If applicable, usually condos only.

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BUYER EXPENSES

TYPICAL COST

COMMISSION

NEGOTIABLE

HOME INSPECTION FEE

$350+/Visit

APPRAISAL

$250 - $500

CREDIT REPORT

$30 - $75 per borrower

LOAN ORIGINATION FEE

$750 - $1,250

PROCESSING FEE

$150

TAX SERVICE FEE

$75-$100

ATTORNEY FEE

$600 - $1,000+

ESCROW/SETTLEMENT FEE

$1,275 - $2,000*

BUYER’S TITLE CHARGES

$1,300 - $1,800

RECORDING FEE

$75 - $250

MUNICIPAL TRANSFER TAX

VARIES

HOMEOWNER’S INSURANCE

$300 - $400**

INTEREST PER DAY

Loan amount x rate/365

INITIAL ESCROW (FOR PROPERTY TAXES)

1-9 months*** (if applicable)

INITIAL ESCROW (FOR HOMEOWNER’S INSURANCE)

1-3 months (if applicable)

The figures above are intended to give you a general idea of costs and could be less or more than the amounts stated. Actual costs vary per lender, loan amount, property type and other factors. *If cash transaction, shared equally between buyer and seller. **Premium listed represents coverage for a condo. Premiums for a single family home range between $1,300 - $2,000, depending on coverage selection. ***Partially offset by property tax credit from seller.

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THE SEARCH

Establish a market-based offer strategy for purchasing a property

Identify the specific type of property you desire (characteristics, location, price, etc.)

Review current inventory

Set up search criteria to automatically notify us of new listings

Select four to six properties that match your requirements

Schedule showings

Identify your top two to three choices

Confirm pre-approval letter from your lender

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TECH THAT POWERS A SMARTER SEARCH

FULTONGRACE.COM Our responsive, custom-built website is the perfect place for you to locate your next home. Homes are indexed directly from the MLS, resulting in one of the most powerful property search sites in Illinois, optimal for both buyers and renters. Be the first to know about any upcoming Fulton Grace listings—our website displays its exclusive “Coming Soon” listings, which have yet to hit the market! Save your searches, mark your favorites and receive notifications about any new listings that match your criteria. If you are looking for a new home on the go, you will enjoy our mobile-friendly website, designed for use on all devices. Easy navigation, including property searches and interactive property tours, make for a smooth and connected user experience, and our Restyle tool shows you the possibilities of a property before you even step foot inside.

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THE SEARCH TECH THAT POWERS A SMARTER SEARCH

INTERACTIVE PROPERTY TOURS Seamless scheduling, routing, and agent communication ensures you can focus on experiencing all a property has to offer without stressing over notes or logistics.

COMPARATIVE PROPERTIES

ACTIVE LISTINGS (3)

Highest Price $1,399,000

2,750

Average Sq. Ft.

$1,272,666

7 days

Days on Market

Average Price

Lowest Price $1,099,000

$506

Price per Sq. Ft.

Days on Market

Address

Status

Beds Baths List Price

Location Type

Parking

Garage Door Opener, On Site, Garag… Included Asphalt, Garage Door Opener, Heate… Included On Site, Garage Owned, Attached, O… Included

Attached Single, Condo, Penthouse

1156 W Ohio Street, Unit 4E, Chicago, IL

West Town

New

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2.5 $1,320,000 1 day

Attached Single, T3- Townhouse 3+ S… Attached Single, Condo- Duplex, Co…

358 W Huron Street, Unit B, Chicago, IL

River North

New

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2.5 $1,399,000 1 day

29 N Morgan Street, Unit PH, Chicago, IL

West Loop

Active

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3

$1,099,000 19 days

CLOSED LISTINGS (5)

Average Price $1,149,300

Highest Price $1,308,500

2,240

Average Sq. Ft.

47 days

Average % of List Price

Days on Market

96.2%

Lowest Price $1,038,000

$527

Price per Sq. Ft.

Closed Price

Days on Market

Address

Status

Beds Baths

Location

Type

Parking

Garage Door Opener, On Site, Garag… Included

720 W Randolph Street, Unit PH5, Chicago, IL

Attached Single, Condo, Condo-Dup…

Closed

3

3

$1,038,000 6 days

West Loop

Attached Single, Condo, Condo-Lof…

1101 W Lake Street, Unit 3D, Chicago, IL

West Loop, Fulton Market

Closed

3

2.5 $1,080,000 133 days

Garage

1050 W Hubbard Street, Unit 3G, Chicago, IL

Attached Single, Condo

Closed

3

2.5 $1,100,000

5 days

West Town

Space/s

COMPARITIVE MARKET ANALYSIS (CMA) Our custom CMA delivers personalized, data-driven property evaluations to assist in developing the smartest possible pricing and negotiation strategy based upon the latest market dynamics.

Jon Christens | | jon.christens@fultongrace.com Grace Fulton | 773.698.6648 | grace.fulton@fultongrace.com

THE SEARCH TECH THAT POWERS A SMARTER SEARCH

RESTYLE TOOL This cutting-edge tool empowers FultonGrace.com visitors to envision how a space might look with updated paint colors, new countertops, or even a complete redesign featuring multiple motif options. With just a few clicks, prospective buyers can transform listing photos to realize their desired design aesthetic and imagine exciting possibilities.

1234 Main Street, Chicago, IL

INVESTMENT ANALYSIS We’re changing the game in real estate investment analysis. Fulton Grace has developed a one- click analysis tool to take multi-family property evaluation to the next level. Our proprietary rent validator allows you to input monthly rent values to assess if units are over or underpriced. It can also determine optimal rent and operating expenses for a property’s success in the market.

OFFER, NEGOTIATIONS & ACCEPTANCE

From preparing the offer to leading you through negotiations, your broker will provide as much counsel as needed. Our primary goal is to achieve the most favorable terms possible by ensuring you make the best decisions based on current market conditions. We will:

Write a compelling market-based offer

Establish a negotiation strategy that balances your objectives with the current market conditions

Devise a counter offer that aligns with your overall offer strategy

Confirm your financing ability with your mortgage lender

Facilitate execution of the sales contract

Send executed contract to all parties expediently

Deliver earnest money (options include check, cashiers check or wire transfer)

Facilitate access for your licensed home inspector

Mediate or negotiate any issues raised by the attorneys and/or inspection

Ensure lender’s appraiser has access to the property and provide comparable properties

Monitor all contract deadlines and purchase contingencies

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TRANSITION MANAGEMENT

Your broker will manage the entire process from guiding you through the buying process to helping facilitate the move to your new home. We are your resource choreographer and partner for all things real estate. We will:

Provide moving company and cleaning service referrals

Advise on utility account cancellation and mail forwarding from previous property

Advise on creating utility accounts at new property

Schedule the final walk-through of the new property

Help choreograph moving out from previous property into the new property, if requested

Offer referrals for a stager or designer to provide guidance on laying out your new home

Transfer keys to your new home!

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WELCOME HOME

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FULTONGRACE.COM

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www.fultongrace.com

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