Home Buying in 60402 : Real Estate Advice

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Peter Kedzior, Real Estate Pro in Elk Grove Village, IL
Peter Kedzior answered:
when buyer responsible for survey and stamps /escrow is this expensive?
In most cases in Illinois, seller pays for stamps and survey. Exempt from paying for stamps are the government-sponsored Freddy Mac and Fannie May. If you buy a foreclosed property, mos ... more
0 votes Share Flag Wed Nov 24, 2010 Home Buying in Berwyn
Jim McCowan, Real Estate Pro in Arlington, VA
Jim McCowan answered:
how long does a forclosed home stay on the market before they decide to lower the price?and when survey and stamps have to be purchased is it expensiv
The timing for any price change is up to the seller, whether it's a bank or an individual.
0 votes Share Flag Fri Nov 5, 2010 Home Buying in Berwyn
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Suzanne Hamilton answered:
want to sell to buy cheaper home for shorter loan and smaller mortgage payment good move or not?
Bubbles -

This really depends on the numbers. If you are not losing equity or too much equity in your current home and will be able to sell it, it does not hurt to put it on the ma ... more
0 votes Share Flag Tue Nov 2, 2010 Home Buying in Berwyn
Jeffrey Stack, Real Estate Pro in Vienna, VA
Jeffrey Stack answered:
to purchase a forclosure is it a long process?want to buy something cheaper.
Foreclosures and the length of time it takes to ratify and go to settlement are completely based on who the note holder is. I would say in a best case senario you are looking at betwee ... more
0 votes Share Flag Wed Nov 3, 2010 Home Buying in Berwyn
John Juarez, Real Estate Pro in Fremont, CA
John Juarez answered:
I've found a home that is REO that I am interested in buying for cash, how do I find the name of the bank who is holding the note? Any problems?

Is the house listed for sale? If so, contact a local real estate professional who can help you. I suggest that you get your own agent - not the listing agent - for your own a ... more
0 votes Share Flag Sat Aug 14, 2010 Home Buying in Berwyn
Cherrie Cata…, Real Estate Pro in Chicago, IL
Cherrie Catama-Smith answered:
We are in the final stages of a short sale and the bank had a broker's price opinion report completed. Can we request to see this report?

The bank usually will not allow you to see the report. They order the report from a third party to get an idea of the worth of the home. If I were in your position, I would hav ... more
0 votes Share Flag Tue Oct 5, 2010 Home Buying in Berwyn
Ute Ferdig -…, Real Estate Pro in New Castle, DE
Ute Ferdig - Atty. Negotiator answered:
I am wondering whether the earnest money counts toward the down payment you state you will put down or if it
Hello Sirenya. The earnest money is credited to you at the closing and you can certainly use it as part of the down payment. If you make an offer on a property for $100,000 with a 90% ... more
0 votes Share Flag Tue Dec 30, 2008 Home Buying in Berwyn
Greg Zaccagni,  in Illinois
Greg Zaccagni answered:
what is the better loan for a first time buyer?
VA is great if you qualify. FHA is good if you don't but you will need 3% down payment wih their programs. You can have a seller pay the 3% + up to another 3% in closing costs by usin ... more
0 votes Share Flag Sat Feb 28, 2009 Home Buying in 60402
Wayne Beals, Real Estate Pro in Oak Park, IL
Wayne Beals answered:
We're looking at homes in Berwyn and have noticed many have city violations or are non-compliant. Can anyone?
Common violations for homes are outdated electrical service, peeling paint, rain gutters missing or in poor condition, etc. Major issues can be non-conforming basement units, roof repl ... more
0 votes Share Flag Fri Jan 23, 2015 Home Buying in Berwyn
Patti Pereyra,  in Chicago, IL
Patti Pereyra answered:
do I have a chance in buying a loft for next year?
Hi Maria:

I'm not sure what buying in Berwyn has to do with qualifying for a loan, but I can tell you this:

If you have entered into a program, beware of Debt Negotiation programs ... more
0 votes Share Flag Fri Oct 5, 2007 Home Buying in Berwyn, IL
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