Discover your dream home with the Daniela Pagani Team Buyer's Guide! Whether you're a first-time buyer or upgrading to a new home, our comprehensive guide will empower you at every step. Let us lead you to your dream home. Start your journey today!
BUYER'S GU I DE
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Buying a home is not just a fi nancial decision, it’s a lifestyle decision
Marc Fleming Chief Economist | First American
Table of Contents
ONE | Meet The Daniela Pagani Team TWO | The Process THREE | Pre-Approval FOUR | No Place Like Home
FIVE | Choosing a Home SIX | Understanding O ers SEVEN | Elements of an O er
EIGHT | Tips for Mortgage Financing NINE | Tips for Using an Attorney
TEN | Closing Costs ELEVEN | Closing TWELVE | Moving Checklist THIRTEEN | Key Terms FOURTEEN | Testimonials
Meet The Daniela Pagani Team
Luxury Broker 312.785.9220 daniela.pagani@compass.com Luxury Real Estate Broker 312.785.9220 daniela@danielapagani.com
Daniela is a member of Real Broker and the esteemed REALM Global, giving her access to the most impressive networks, insight, and information, often ahead of other real estate professionals. She is also a Certified Negotiation Expert specializing in resales and new developments in several of Chicago’s vibrant neighborhoods. Daniela’s experience and expertise in the Chicago Real Estate market are unmatched. Her ability to navigate the market, coupled with her knowledge and negotiating prowess, makes Daniela the best person to have on your side when navigating the roller coaster of the home buying/selling process. Additionally, Daniela is an interior designer and offers services that branch out from the typical real estate offering to assist her clients in elevating the home buying and selling process. With specialized services in interior design, sourcing, and lifestyle consultations, her team is genuinely focused on delivering incredible experiences beyond the standard buying and selling of houses. A 360° approach to helping our clients create the lifestyle of their dreams, that’s what it's about.
Ana Padros
Luxury Real Estate Broker 832.358.5498 ana@danielapagani.com
Ana Padros, is a seasoned expert in the Real Estate industry with over six years of experience across different states in the United States. Having worked in various areas of the field, Ana’s breadth of knowledge of the relocation process gives her an invaluable skillset that sets her apart from the competition and helps her clients achieve results. She knows exactly what it takes to make your move and home buying process smooth, stress-free, and successful. As a mother of three and a frequent mover herself, Ana understands firsthand the challenges involved in relocating to a new city, both nationally and internationally. Her personal experience gives her a unique insight into the process, allowing her to provide the highest level of service to her clients. After living in different parts of the world and extensively traveling abroad, Ana decided to pursue her passion for helping people find their perfect home by launching a career in Real Estate. Her exceptional service, compassion, attention to detail, and positive attitude have earned her a reputation as a trusted partner in the relocation process. Whether you’re navigating relocation for yourself or you are managing the process for your employees, Ana’s wealth of knowledge and expertise in the industry will help guide you through the process with ease and confidence. With Ana by your side, you can trust that you’re in good hands and that your relocation journey will be a success.
THE PROCESS So, you want that dream home? We know exactly how to get you there. Here are the typical steps involved in buying a home. 01 Game Plan
03 Determine Your Needs/Research Neighborhoods
The decision to purchase a home is not one to be taken lightly. It might even be the biggest purchase you make during your lifetime. Whether you are a first-time buyer, upsizing, or downsizing, getting the best support will guarantee a successfuI transaction. 02 Get Pre-Approved You'll want to get this process started ASAP, as getting pre approved for financing is essential. Contact A Lender Initially you'll provide some financial information to your lender - such as your income and amount of savings. For a pre-approved letter, your lender will need W-2 statements, pay-stubs, bank account statements, and to run a credit check. Contact us for my list of preferred lenders.
Set maximum home buying price, location, and criteria. Lenders typically recommend homes with a cost no more than three to five times your annual household income, assuming a 20% down payment, I will help you search the database of homes that meet your needs, 04 House Hunting We'll take note of your requirements and start searching for properties that fit the bill. Leave it to us to schedule a day of showings. As we tour the homes together we wiII ask that you outline the pros and cons of each property. Once you have a Iist of the top three we can proceed with second showings to find your dream home.
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08 Appraisal An appraisal is an estimate of the value of a property. Although the primary goal is to justify the lender's investment, the appraisal can also protect you from overpaying. Your lender will typically hire the appraiser and charge you a fee for the service. 09 Mortgage Contingency This is a crucial step in the home purchase process. It determines whether your lender will grant your request for funds or credit. Once approved, your mortgage contingency will be satisfied. Final Amount for Closing You won't know your final cost for closing until the last couple of days. Your lender & attorney will issue these figures and provide you with a final amount to bring to closing.
05 Present An Offer So, you've found your dream home, now what? First, I will compile a list of comparable homes to help us decide on price, We will work together to finalize terms including: price, closing date, earnest money deposit, and any other requests. Next, I will present the offer to the listing agent and will handle negotiations on your behalf, which may entail several counteroffers until a meeting of the minds. 06 Property Inspection When purchasing a home, it is recommended to conduct a property inspection to ensure all of the home's components are in operable condition and up to code. If the home has any structural damage or deficiencies, we will address them during the attorney review period. 07 Attorney Review Buyers may wonder why to use an attorney if they already have a contract with the seller. An attorney who practices real estate law will provide buyers with experienced insight and expertise, giving them peace of mind during the closing process,. Contact us for a list of our preferred attorneys.
10 Closing
The closing process finalizes the purchase of your home and makes everything official. Also known as settlement, the closing is when you receive the deed to your new home. Prior to closing you should change all utilities into your name, and complete a final walk-through to check for any outstanding items that were agreed upon during the attorney review period. Congratulations! You are now a homeowner.
Pre-Approval
Getting a pre-approval is one of the best things you can do to simplify the process and give yourself more confidence in your buying power. Here’s what you can expect from the process.
ONE - YOUR CREDIT SCORE
Knowing your credit score will help lenders decide if you’re a good candidate for a loan. The higher the credit the better.
TWO - YOUR EMPLOYMENT HISTORY
Lenders want to make sure you can regularly make mortgage payments, with no major gaps in income.
THREE - YOUR ASSETS AND DEBTS
Lenders want to know your debt-to-income ratio to know if you can make each loan payment with the income you earn
QUICK TIPS
Rates change on a daily basis and pre-approvals usually expire after a few months.
Be mindful when shopping for rates. A pre-approval involves pulling credit. Doing this too many times in a short timeframe may negatively impact your credit score.
Avoid purchasing activity that can impact your debt-to-income ratio, such as buying a car, charging expensive items to your credit card, or taking out a personal loan.
Choosing a home that compliments your lifestyle, income, and preferences is no easy task. There are many moving parts to finding a home that will work for you and your family. Here are some things to consider when looking for that perfect home.
There’s no place like...
H O M E
WHAT KIND OF HOME DO YOU WANT?
OLD HOUSE OR NEW HOUSE
CONSIDER YOUR COMMUTE
Are you interested in single-family home, condo or townhome? Do some research of what di�erent types of homes o�er to narrow down your search.
Do you need a car to get to work? Are you going to be taking public transportation? Do a
Older neighborhoods are great for their charm and character, but often older homes require more repairs, newer developments have modern finishes and less repairs needed.
test run before committing to a certain area.
CHOOSING A HOME
COMMUNITY
WALKSCORE
MUST NOT HAVE
Everyone has wants and needs but have you considered the things you don’t want? If you hate the noise you might want to steer clear of a busier street
How important is proximity to things like schools, shopping, and groceries? Think of what you want to be close to.
What would you like to see in your new community? Is it more co�ee shops? Events? Proximity to the water? Whatever it is write it down and choose
areas that have those features.
UNDERSTANDING OFFERS
Once we draft and present the o�er a few things could happen, here’s a breakdown of the o�er process and what you can expect
OFFER PRESENTED
REJECT
COUNTER
ACCEPT
The Seller may come back with a counter- o�er. In this case, we will review the terms with you and continue to negotiate until we reach an agreement.
The Seller may reject your o�er. We will ask questions to discover why and if there is anything we can do to make the
Your o�er is accepted! Time to celebrate, now we will move ahead with any conditions laid out in the o�er like home inspection.
o�er more appealing.
Price The price of a home
Earnest Money Deposit Will be applied against the purchase of the house when the sale closes, or towards the down payment. Terms Terms include the total price o � ered and the financing details Conditions Conditions are items that must be completed or fulfilled prior to the closing (such as a home inspection, obtaining financing, or selling your existing house). Inclusions and Exclusions Items included or excluded. These items can be anything from appliances to decorative items, such as window covering or mirrors. Closing Day The closing day is generally the day the title of the property is legally transferred and the transaction of funds finalized. This is the day you may take possession.
Tips for Mortgage Financing Always check with your lender before doing any of the following prior to closing on your home:
Making A Big Purchase: Avoid making major purchases, like buying a new car or furniture, until after you close on the home. Big purchases can change your debt to-income ratio that the lender used to approve your home loan and couId throw the approvaI into jeopardy.
Opening New Credit: Do not open any new credit cards or get a loan without speaking to your lender first. Missing Any Payments Pay your bills on time to keep your credit score from dropping
Cashing Out: Avoid any transfers of large sums of money between your bank accounts or making any undocumented deposits - both of which could send 'red flags' to your lender.
Keep The Same Job: Be kind to your boss and keep your job. Don't begin looking for new work right now, unless it's a second job to make extra money.
CLOSING COSTS
BEFORE CLOSING
EARNEST MONEY DEPOSIT PROPERTY APPRAISAL HOME INSPECTION
AT CLOSING
LAND TRANSFER TAX PROPERTY TAX ATTORNEY FEES LOAN ORIGIATION FEES
AFTER CLOSING
MOVING EXPENSES UTILITY CONNECTIONS RENOVATIONS REPAIRS + MAINTENANCE
MOVING CHECKLIST
TWO MONTHS BEFORE
2-3 DAYS BEFORE
Start downsizing and donating old and unwanted items Start researching moving costs and companies
Plan payments and expenses for moving
Defrost your fridge
Clean as you continue to pack
Collect school records and transfer
Pack things you will need right away separately
Order packing supplies
ONE MONTH BEFORE
MOVING DAY
Change your address and send moving noti fi cations to friends and family Find local healthcare providers and shopping necessities Buy any new appliances or make plans for what to buy
Do a fi nal walkthrough
Keep all receipts
Check for damages in your new home that will need to be fi xed
Unpack room by room
TWO WEEKS BEFORE
Contact utilities
Finalize moving arrangements
Testimonials
“Daniela is a delight to work with. Words cannot express our appreciation and gratitude for her knowledge of the competitive Chicago market, looking out for our best interest as a seller and a buyer. Daniela is professional and has attention to detail. Daniela is always willing to answer questions with respect and integrity. Her expertise goes beyond real estate, Daniela is a great resource for interior design. In addition, Daniela can recommend and has access to renovation professionals. We are looking forward to our new home. We cannot thank Daniela enough for all her help and kindness.”
Lily and Roberto | Buyer and Seller
“Daniela helped my wife and I find our first home in Chicago. We’re both from out of state and had been renting for a few years so working with her was amazing because she knew all about the neighborhoods. We told her what we were looking for and she went above and beyond to help us find it. And we did. We settled into a penthouse condo in little Italy and it literally had everything we were looking for. Not only did she help with finding our place but helped us find financing and even had great recommendations for vendors for home improvement projects we wanted. We don’t plan on staying in Chicago forever but when the time comes to try and sell out place we definitely know who to go to. She’s kind, attentive, and won’t rest until you’re happy.”
Jose Suaste | Buyer
"I have had the pleasure of working with Daniela Pagani three times now and cannot say enough wonderful things about her as an agent and as a person. She is an expert in real estate and guided me through the process of two purchases and one sale educating me all along the way. Her knowledge of the Chicago market, attention to detail, strong moral compass, honesty, responsiveness and kind ways made what can be a stressful experience, exciting and fun. I wish I could give her more than 5 stars as she is amazing to work with and I would be happy to work with her again. "
Carol | Buyer
THE DECISION TO BUY A HOME IS AN EXCITING ONE. Let's work together to realize your dreams of homeownership! I go above and beyond to help my clients search for their perfect home, providing guidance and advice throughout every step of the buying process. Together, we'll collaborate closely to find homes that fit your needs, budget, and lifestyle. Working with me means you'll have a seamless experience and be well positioned to make your dream home yours when you find it. I make sure my clients cross the home closing finish line with confidence and ease.
(� Daniela Pagani T ea m
Luxury Broker 312.402.4072 O: (312) 319-1168 daniela.pagani@compass.com Daniela Pagani Luxury Real Estate Broker 312.785.9220 daniela@danielapagani.com
Ana Padros Luxury Real Estate Broker 832.358.5498 ana@danielapagani.com
All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, and changes without notice. All measurements and square footage are approximate. This is not intended to solicit properties already listed. Nothing herein shall be construed as legal, accounting, or other professional advice outside the realm of real estate brokerage.
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