Buying a Home

Buyer FAQs

• What is the first step to buying a home in Lake County?

  Start by talking with an experienced Realtor and getting pre-approved with a reputable lender. We'll discuss your budget, timeline, preferred communities and must-haves, then create a focused home search based on your goals.

• How much money do I need to buy a home?

  You don't necessarily need 20% down. Your down payment depends on your loan program and financial situation. You'll also want to plan for earnest money, inspection and appraisal fees, closing costs and prepaid expenses. We'll help you understand what to expect before you begin your search.

• Do I need a buyer's agent to purchase a home in Illinois?

  You aren't required to use a buyer's agent, but having your own representation can be valuable. We help you evaluate homes and pricing, write and negotiate offers, navigate inspections and attorney review, manage important deadlines and advocate for your interests through closing.

• How does buyer-agent compensation work in Illinois?

  Buyer-agent compensation is established in your written buyer representation agreement. Depending on the property and offer, a seller may agree to contribute toward that compensation. We'll explain how it works and discuss any potential costs with you before you make an offer.

• Should I waive the home inspection to make my offer stronger?

  For most buyers, we don't recommend completely waiving an inspection. There are other ways to write a competitive offer while maintaining important protections. We'll help you evaluate the home, current competition and your comfort with risk before deciding on the best inspection strategy.

• What happens after my offer is accepted?

  Once you're under contract in Illinois, things move quickly. The next steps typically include attorney review, inspection, earnest money, financing, appraisal and title work. Our team coordinates the details, tracks important deadlines and guides you from accepted offer through closing.

• Can I buy a new home while selling my current home?

  Yes. Many of our clients buy and sell at the same time. The key is planning the timing, financing and contract terms carefully. We'll help you evaluate your options and create a strategy for coordinating both transactions with as little disruption as possible.

• What areas does The Hering Homes Team serve?

  We help buyers throughout Lake County, McHenry County, the North Shore, the northern Chicago suburbs and Southern Wisconsin. Whether you're purchasing your first home, relocating to the area or searching for a luxury property, our team can help you find the right community and home for your lifestyle.