Jeff Kropp,
Buyer's Agent

Phone: 773-321-7022

Address:
1st Home Group
1122 W Armitage Ave Chicago, IL 60614

Buyer Testimonials:

"Jeff has done a great job handling my loan on my apartment building. After a couple refinances, my monthly payment has dropped at least $500 a month. And these are no-cost refinances, so I am never out-of-pocket at my closing." Rich Caner, MD

"I worked with Jeff and 1^st Home Group to find my condominium in Lincoln Park. I could not believe how smooth the process was. Within a month, I had found the perfect place with my own rooftop deck. They handled all the paperwork and got me a great low-interest loan. A month later, I closed on the place. I had always heard home buying would be a pain; not with these guys." Dave Bennett

A Note About Turbulence

Buying your home is like taking an airline flight across country. When you start on your trip you have no idea how the trip will go. You could run into 60 different types of turbulence, or the seller could try to pull stunts. Ideally, you have a smooth flight and land on time.

Certainly the pilots will try to use their experience to navigate around the storms and go for the smoothest flight plan, but if they're honest, they can't promise a turbulent-free trip. Their job is simply to get you to your destination in the least time and with the least aggravation, while keeping you informed throughout the trip.

Attached is a list of the 60 different types of turbulence or stunts we might run into. This list is not all-encompassing, but it catches most of the common issues. While some of the items are picky to some, they are very real and fearful to others.

Please take a minute to review the list.

As your Real Estate Consultant, I see myself as the pilot of your plane. My job is to assist you in buying a home for a fair price and obtaining a great loan, in the least amount of time, with the fewest aggravations.

I can't promise you that there will not be turbulence and no one will try to pull stunts, but I can promise you that I'll utilize my experience and expertise to take you on the smoothest flight that I can. If we do hit turbulence, I won't bail out on you. I'll be your teammate throughout the flight until we get you safely to your destination.

Rest assured your advocacy is my number one goal, and that means you must be delighted with the product we provide and deliver beyond your expectations during the process.

As always, should you have any questions or concerns, please don't hesitate to let me know.

The Buyer/Borrower:

1. Does not tell the truth on the loan application, including how much he earns.
2. Submits incorrect or forged information to the Lender.
3. Has recent late payments on credit report.
4. Loses job.
5. Makes large purchase on credit before closing.
6. Suffers illness, injury, divorce or other financial setback during escrow period.
7. Gift donor changes mind.
8. Does not supply Lender with all necessary documents in the time period requested.
9. Borrower switches from job with salary to 100% commission income or to self-employment.
10. Family members or friends do not like the home a buyer chooses.
11. Has unrealistic expectations on how much he can afford.
12. Comes up short of money at closing or fails to make arrangements in advance to have money ready at closing (through cashiers' check or wire transfer to title company).
13. Leaves town without letting agents and attorneys know where they will be and how to get in contact. (back to top of page)

The Seller:

14. Loses motivation to sell (job transfer does not go through, reconciles marriage, etc.).
15. Cannot find a suitable replacement property.
16. Removes property from the premises the buyer believed was included, such as light fixtures or wire shelves in closet.
17. Cannot secure loan to close on new house or otherwise will not close on new home.
18. Did not own 100% of property as previously disclosed.
19. Encounters problems getting spouse's or partners' signatures.
20. Leaves town without giving anyone Power of Attorney to sign documents at closing.
21. Delays the projected move-out date.
22. Did not complete the repairs agreed to in contract.
23. Seller's home goes into foreclosure during escrow.
24. Misrepresents information about home and neighborhood.
25. For new construction, builder miscalculates completion date of new home.
26. Does not provide condominium association documents, such as by-laws, declarations, and operating budget, in a timely manner.
27. Does not disclose all hidden or unknown defects and they are subsequently discovered.
28. Inspection is not satisfactory or problems found on the final walk-through prior to closing.
29. Refuses to bargain over offer in good-faith based on current market conditions or to make reasonable concessions.
30. Has unrealistic expectations of what home is worth.
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The Seller's Realtor:

31. Delays access to property for inspection and appraisals.
32. Unfamiliar with their client's financial position (i.e., whether they have enough equity to sell, etc).
33. Does not get completed paperwork to the Lender in time, including a signed sales contract and condominium documents.
34. Inexperienced in this type of property transaction.
35. Takes unexpected time off during transaction and can't be reached.
36. Misleads other parties to the transaction has huge ego.
37. Does not do sufficient homework on their clients or the property and wastes everyone's time.
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The Property:

38. Home was misrepresented as to size and condition.
39. Home is destroyed prior to closing.
40. Home not structurally sound.
41. Home is uninsurable for homeowner's insurance.
42. Property incorrectly zoned.
43. Portion of home sits on neighbor's property.
44. Unique home and comparable properties for appraisal difficult to find.
45. Appraisal indicates home is not worth purchase price and Lender will not provide loan.
46. Lender requires second appraisal.
47. Condominium does not meet Fannie Mae standards (for example, is not at least 70% pre-sold or owners do not control association yet).
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The Escrow/Title Company:

48. Fails to notify Lender/agents of unsigned or unreturned documents.
49. Fails to obtain information from beneficiaries, lien holders, insurance companies or Lenders in a timely manner.
50. Lets principals leave town without getting all necessary signatures.
51. Loses or incorrectly prepares paperwork.
52. Does not pass on valuable information quickly enough.
53. Does not coordinate well, so that many items can be done simultaneously.
54. Does not bend the rules on small problems.
55. Finds liens or other title problems at the last minute.
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Attorneys:

56. Seller's attorney waits until last minute to order title insurance policy or property survey.
57. Has a scheduling conflict and cannot attend closing.
58. Does not prepare final closing documents in time or does not communicate with buyer in advance as to exact amount needed to close on home.
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Lender:

59. Underwriters are backed up and cannot deliver loan documents in time for closing.
60. Does not bend on small conditions and repeatedly requests additional documents from buyer.
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