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Newbie player, really like the look of Terminators and Chaos and loves Chaos Terminators, so here's an elite 1000pt Termie focused list I cooked up:

Vanguard Detachment
1 Sorcerer with Force Stave, Bolt Pistol (Death Hex, Miasma of Pestilence, Unholy Fortitude)
1 Hellbrute with Plasma Cannon, Fist, and Combi Bolter
1 Hellbrute with Lascannon, Missile Launcher
5 Plague marines with 1 Combi Plasma, 1 Plasma Gun
2 units of 5 Terminators both with Chainaxes and Combi Plasmas.
2 Obliterators

All benefit from:
Bringers of Oblivion:If your army is Battle-forged, all CHARACTER, INFANTRY, BIKERS and HELBRUTE units in PURGE Detachments gain the following ability: You can re-roll hit rolls for attacks made by units with this trait that target enemy units that have lost one or more wounds already this turn.

Other then being limited in model count, I can really see anything too off with the list. Not many armies are going to field that much dedicated anti armor at 1000pts anyway.
The best I'd suggest is either replacing one of the brutes with a squad of marine, just so you'd have more weight of fire to level at your chosen target.

Though, it is good to see that Hellbrutes are getting more play now anyway. You'd statistically have a better time with them, if you kept them as either purely melee, or a mix. I typically run missiles with the two that I take with my force, because they can still lock up with the crazed shots that they received from being damaged and they can still physically tear into enemy units in melee.
As a side note, the plasma cannon will not trigger their "Crazed" rule.

Are you really sold on the obliterators?
Because Havocs are far better at specialized ranged combat.

I like the idea of maximizing deep strike capability, so I can keep at least one unit of termies and the oblits in reserve to deep strike them in at full strength late-game, or as an emergency response to things going south early on.

It's usable, though you will be hoping for RNG to bail you out in most cases with the obliterators.
The last match that I ran again a list going Oblits & Terminator bombing. It was an Emperor's Children force and they ran Endless cacophony.

You'll be missing out somewhat with the lack of repeatable firepower and I suggested the Havocs, because you'd be able to squeeze out a few more high-powered shots from the whole squad.

Other then that, the list looks fine. Though a chaos lord would probably serve you better when the fighting bogs down and you need to rely on his re-roll aura.

Is this your first go at a chaos force in general?

Yes this is my first Chaos and Marine army, I've played a bit of AdMech before. I wanted an "antagonist" army since my local store has a lot of Imperial armies.

Well that's understandable, as It's always preferable to mix things up from time to time. Ad-Mech does get boring after a while as well, especially if your army lacks any of the more notable gimmicks that they can pull on the opponent.

The Purge detachment may not exactly be the best choice, because of the weight of shots that you are going to be putting out. It can help you make some attacks land, but about a third of your army is going to have to roll to wound those targets before hand and then you'll have the rule come into effect. Thankfully, your entire army is going to be BS 3+. So you are not going to be missing all that often, unless the dice really have it out for you.

Kind of sad to see that you don't have the points to put your sorcerer in terminator armor. I've always liked the higher survivability that you get from decking them out like that.