Unless both buyers and sellers have signed the Purchase and Sale agreement, there is no binding agreement yet between the two parties.
Your realtor can express your intention to the listing agent that you have an offer--which should be more attractive than the offer on the table or the offer the seller is considering. The terms of the offer of the other buyer can be withheld or held confidential.
However, the decision resides in the seller if they would like to have your offer get submitted before accepting the other offer.
The listing agent's job is to get the best offer for the seller client. They might counter all offers for final and best.
The public records show you as the legal owner or at least someone of your first initial and last name. If you need help renting the property feel free to contact me. I am local Managing Broker headquartered in Streamwood. Sincerely, Noah Thompson - Oracle Realty, LLC (847) 845-3472... more
It truly depends on the home and the local market conditions. While in general, we are experiencing a very active market in Northwest suburban Chicago, market conditions can vary not only in a specific area but also among property types. We are actually seeing a decrease in inventory in many areas and homes are selling that may have just been sitting last year. However it is still important to price a home correctly, evaluating both the active competition and for appraisal purposes, also recent sales. Rule of thumb is you never get 100% back on return on investment, but many minor changes can make it sell faster and possibly at a higher price. I offer my clients a market analysis and free consultation on how much to spend and which changes to make. Feel free to call me at 630 776-1410.
Coldwell Banker Residential Brokerage... more
The longer I am a Real Estate broker, the deeper my appreciation of the fact that it is a market. Prices are determined through the interplay of supply and demand. Streamwood is an interesting community. I consider it undiscovered and therefore totally under rated. A diverse range of housing options from no-frills starter homes and town homes to upscale deluxe homes. All priced substantially below equivalent properties in Schaumburg. No one can predict the future. Look at what happens in the stock market. When markets boil people make ridiculous predictions to the upside (remember all the DOW 25,000 and even DOW 100,000 predictions made at the last market top). When markets tank people make ridiculous predictions to the downside (remember DOW 3,000 and even DOW 1,000 when the market hit a bottom a year ago). Unlike the stock market, your home provides the necessity of shelter. If you don't own a home you must rent to have shelter. So, the best move a credit-worthy renter can make now appears to be to buy a home where the monthly mortgage payment (PITI) would be at or below what they are paying for rent. This is certainly possible in Streamwood. There are starter homes on the market there for $60,000. To take advantage of the homebuyers tax credit, you must be under contract by April 30 (less than 100 days away). The market may be slower than 2007 but it is no where near as bad as winter of 2008. The homebuyers tax credit is working and helping starter homes sell. Prices on starter homes could start to rise in the next few months. If you would like to schedule an appointment to discuss specific options tailored to your needs, please give me a call or drop me an email. We can also sit down and talk to members of my lending team who can run the numbers for you.
Prudential Starck, REALTORS