BUYER GUIDE
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FINDING HOME, TOGETHER.
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THE POGO TEAM In 2015, two brothers, Yoni and Danny Pogofsky, came together to create The Pogo Group. Yoni had experience as a mortgage broker and was also a Division 1 Soccer player at Bradley University, while Danny negotiated his way into a position working for a sports and entertainment agent while attending DePaul University. At The Pogo Group, we believe that treating our clients like family is what sets us apart. We’re always working to perfect our craft and provide a hands-on, concierge service that makes our clients’ lives easier. We take the time to get to know each and every client, which allows us to customize our strategies to fit their unique needs and preferences. Over the years, we’ve been featured in HGTV (in 2017, 2018, and 2020), Chicago Agent Magazine, and Chicago Real Producers Magazine. We’ve also earned some impressive accolades, including the Top Producing Team Award by the Chicago Association of Realtors and the Certified Negotiation Expert (CNE) designation. But what really motivates us is the satisfaction of our clients. We consistently rank in the Top 3% of Chicagoland Realtors (out of approximately 34,000 Realtors) and have access to the Top Agent Network, which is only available to the top 5% of Realtors in Chicago. We work with a diverse range of clients, from first-time home buyers and sellers to professional athletes and investors. No matter who we’re working with, we take a personal approach and always go above and beyond to make sure our clients feel supported every step of the way. We believe that buying or selling a home is one of the most important experiences in life, and we’re honored to be a part of that journey with our clients. Our team of dedicated agents, each with a background in leasing, understands the nuances of Chicago’s dynamic real estate market like no one else. We’ve walked the path from leasing to buying and selling, and we’re here to guide you every step of the way.
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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. How did our story begin? It began in 2009 in Chicago. After 2008’s financial crisis left the real estate market in a state of deep uncertainty, Fulton Grace saw an opportunity to start working with homeowners and tenants by offering apartment rental and property management services. When owners couldn’t sell their properties, we offered an alternative solution to weather the bad sales market - we secured quality tenants for our clients and professionally managed their properties until the sales market rebounded. Once the market started 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. 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 coupled with cutting-edge tools and in- depth, local knowledge. Everyday, Fulton Grace brokers work to build lasting and meaningful client relationships. It is their highest priority to be the best advisors they can and to ensure their clients reach their respective goals. A passion for excellence and strong commitment to our clients drive our continued growth and are 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 as you search for your next home!
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Since 2009, we have continued to attract the city’s most talented brokers. Additionally, Fulton Grace has been named one of Chicagoland’s top workplaces by both Crain’s and the Chicago Tribune! Let us put our commitment and experience to work for you and guide you through the process of finding your next home.
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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.
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 love to embrace opportunities to bring our staff and brokers together helping out at local food pantries and donation sites. 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. Several intentionally and strategically placed offices throughout Chicago and the suburbs, 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. 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. Proactive and regular feedback, thoughtful recommendations and a genuine passion to give our clients 110%.
COMPREHENSIVE TOOLS
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.
Fulton Grace brokers are among the top brokers in Illinois. Years of collective experience, knowledge and wisdom create an exceptional client experience.
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Consult a Fulton Grace real estate broker for professional referrals (attorney, handyman, 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 contract for purchase 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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Identify your team of professionals | Your FG Broker, Mortgage Lender, Home Inspector, Moving Company MARKET EDUCATION & PREPARATION
Learn the steps of obtaining a mortgage
Speak to a preferred lender to obtain a mortgage pre approval
Learn the conditions of the current real estate market for Buyers such as National, Regional, Local, and your own “personal market”
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UNDERSTANDING YOUR NUMBERS
SELLER EXPENSES
TYPICAL COST
COMMISSION
6% of purchase price
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
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 then 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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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 home purchase, you and your agent 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 agent
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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THE SEARCH
Learn the entire process of looking for and purchasing a home
Identify the specific type of property you are interested in: price, location and property type
Obtain a pre-approval letter from a trusted lender
Select several that match your requirements and schedule showings
Identify a few top choices and schedule a second (or even third) showing to confirm your top choice
Consult with your broker to prepare to write an offer on the property
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FULTONGRACE.COM Our custom-built, responsive 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 -- FultonGrace. com 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 make for a smooth user experience.
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NEGOTIATIONS & ACCEPTANCE Once an offer is submitted, your broker will lead you through negotiations, providing 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. Your broker will:
Establish negotiation strategy which balances your objectives with current market conditions
Create counter offers that align with overall offer strategy
Confirm buyer’s financing ability with lender
Facilitate executing the sales contract
Expediently send executed contract to all parties
Deliver earnest money (check, cashiers check, wire transfer)
Facilitate access for buyer and their Licensed Home Inspector
Mediate or negotiate any issues raised by the attorneys and/or inspection
Assure the appraiser has access to property and provide comparable properties
Monitor all contract deadlines and purchase contingencies
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TRANSITION MANAGEMENT
Your agent 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. Your
Provide moving company and cleaning service referrals
Advise on utility shut off times and mail forwarding to your new home
Advise on creating new utility accounts for your new home
Schedule the final walkthrough of the property
Assist with scheduling the closing of your new home
Help facilitate the entire moving process
Attend the closing and deliver you the keys to your new home
WELCOME HOME!
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WELCOME HOME!
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FULTONGRACE.COM
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