60622 : Questions & Answers

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Newman-Mitri…, Real Estate Pro in Near North Side, Chi...
Newman-Mitrick RE Group answered:
I am looking at a home being sold as an Estate Sale. It's listed at 119.5k. Last updated 20 yrs ago. Would $95k be considered a low ball offer?
List price is irrelevant- the only thing that matters is what the home is worth. If it's worth $80K and you offered $95K then you'd be significantly overpaying.
0 votes Share Flag Wed Mar 12, 2014 Home Buying in 60622
Kevin Bigone…, Real Estate Pro in 60622
Kevin Bigoness answered:
If you are paying $2000 or more in rent at this time why would you pass up the opportunity for a permanent investment and pay less for a mortgage?
Depends on how solid your job is. If you dont think you will be in the city or are thinking about moving you would not want such a commitment
0 votes Share Flag Mon Jan 20, 2014 Home Buying in 60622
Manuel Brown…, Real Estate Pro in 60640
Manuel Brown (312) 600-5710 answered:
looking for a 1 bdr apartment in wicker park zip 60622 - west town call rose at 847-736-8076
Rodedale,

You can work with a real estate broker or leasing agent that knows your area for free. Also, search through Domu.com and craigslist.
0 votes Share Flag Mon Dec 16, 2013 For Rent in 60622
John Meyers, Real Estate Pro in Chicago, IL
John Meyers answered:
Does anyone know the average time on the market for a 2bed plus den townhome in River West?
Hello Julie,

It depends on how you plan to price it.

If it shows well and you price it to get a lot of buyer attention, you should be able to get an offer within a couple weeks in ... more
0 votes Share Flag Thu Nov 28, 2013 Home Selling in 60622
Cassandra Ba…, Real Estate Pro in Crystal Lake, IL
Cassandra Bajak answered:
I erroneously completed the day care form and it put us over our debt income ratio. Can I find another morgage company and leave it out.?
Having the correct loan officer to work with you and explain directly to the underwriter is key!
Www.myprospectmortgage.com/cbajak check out my page and testimonials. Good luck!
0 votes Share Flag Mon Nov 18, 2013 Financing in 60622
William Chu, Real Estate Pro in Downers Grove, IL
William Chu answered:
are there any institutions giving heloc loans on homes that are not primary residences?
You need a HELOC on an investment property? Call me, 708-203-2258, for a quote and to confirm your property type and owner equity is eligible for what I can provide to you.
0 votes Share Flag Wed Nov 13, 2013 Financing in 60622
Brad Neumann…, Real Estate Pro in Downers Grove, IL
Brad Neumann - NMLS 948036 answered:
Looking at buying estate sale house and asking price is $138,500 but under online assessor web site shows estimated market value on it is $113,850
If you have a realtor, ask them and this is part of the negotiation. I have worked in the area for the past 15 years and work with several quality realtors in Chicago. Our company wor ... more
0 votes Share Flag Tue Oct 8, 2013 Home Buying in 60622
TERRY MCCARL…, Real Estate Pro in Cape Coral, FL
TERRY MCCARLEY answered:
I have a question! My exhusband and I purchased our first home in 2010 while we were still married through FHA. Right away he abandon me and our kids
As others have told you this needs discussed with an attorney as soon as possible!
0 votes Share Flag Thu Oct 3, 2013 Home Buying in 60622
Matt Hoyt, Real Estate Pro in 60035
Matt Hoyt answered:
In the process of purchasing a rehab. 2 flat condo. I have found out that no permits were taken out, no inspections made. Is this a red flag.?
Yes! Run for your life. AS long as no electrical or plumbing was done, you should be ok with the City permit wise. Definitely get a great inspector. I know many.
0 votes Share Flag Thu Sep 26, 2013 Home Buying in 60622
Santiago ken…, Real Estate Pro in Chicago, IL
Santiago kensel Sanchez - CDPE answered:
On FHA Deed of Trust, Non-Uniform Covenant paragraph #17-Assignment of Rents, does this apply to a Residential home care at your home?
Definitely to residential properties
0 votes Share Flag Thu Sep 26, 2013 Home Buying in 60622
Daniel Mirea, Real Estate Pro in 60641
Daniel Mirea answered:
I put an offer on a home where the owner had past away.The family wants to walk away from it.Would this be a short sell as there was a mortage on it?
If you want to buy it at this stage you should convince the family not to walk away and to do a short sale. Get a good Agent and a good Attorney asap!

Otherwise will go in Fore ... more
0 votes Share Flag Thu Sep 26, 2013 Home Buying in 60622
Daniel Mirea, Real Estate Pro in 60641
Daniel Mirea answered:
I'm purchasing a home and later turning it into a Group home care for seniors. How does that affect my loan through FHA?
Can you do conventional? FHA will not work! Talk to your loan officer and your Attorney and they will advise you on this one also!
0 votes Share Flag Wed Sep 25, 2013 Home Buying in 60622
Daniel Mirea, Real Estate Pro in 60641
Daniel Mirea answered:
Best Home Warranty company?
i also use HWA . Liane Luckett is the best in the industry!!!! She can work with you on the price!
0 votes Share Flag Wed Sep 25, 2013 Home Buying in 60622
Jim Simms, Real Estate Pro in Louisville, KY
Jim Simms answered:
Why is insurance more on a FHA than a USDA loan?
I agree with others, the loan officer said mortgage insurance, you heard home owner’s insurance.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at ... more
0 votes Share Flag Sat Sep 7, 2013 Home Insurance in 60622
Daniel Mirea, Real Estate Pro in 60641
Daniel Mirea answered:
Halfway through closing, can I change lenders?
Most Likely you will push back the closing! I would suggest to call your Attorney to see how much time you have for closing and see if he can get an extension in case you need more time ... more
0 votes Share Flag Wed Sep 4, 2013 Financing in 60622
Jeff Nobleza, Real Estate Pro in 60640
Jeff Nobleza answered:
After you have purchased a home and some how the city inspector have cited that permits were not applied for for a rehab. Can the buyers contract?
Lines 179 and 182 seem to address deed and title.

At closing did the title commitment note exceptions? What was discussed in your attorney review period prior to closing? Did you ag ... more
0 votes Share Flag Wed Aug 7, 2013 Home Buying in 60622
Jessica Bate…, Real Estate Pro in Los Angeles, CA
Jessica Bateman answered:
Can I switch lenders after putting in an offer?
Yes you should have back up lenders in place if anything happens or you could lose it altogether. Check out The Lenders Network they have several reputable lenders they work with that c ... more
0 votes Share Flag Fri Jul 26, 2013 Financing in 60622
Ryan Hanley, Real Estate Pro in Chicago, IL
Ryan Hanley answered:
Condo buying in West Town Chicago -- Haddon and Campbell
Hi Matt -

I'm not sure if you are still in the market, as this post was done about a year ago. However, I will still shed some light on this question, since I am an expert in this a ... more
0 votes Share Flag Fri Jul 12, 2013 General Area in 60622
Jeffrey Olic…, Real Estate Pro in Chicago, IL
Jeffrey Olichwier answered:
is there a standard construction used to build chicago condos?
Yes there is supposed to be basic minimum standards As many of the other people have suggested here. Are you looking to build, buy or do you have problems with your condo?
0 votes Share Flag Tue Jul 2, 2013 General Area in 60622
Annette Lawr…, Real Estate Pro in Palm Harbor, FL
Annette Lawrence 727.420.4041 answered:
looking for investor friendly title co
Double/simultaneous closing with assignable contracts.
David seems to be the only one who understands this issue.
-
This format is the life blood of real estate transactions that dep ... more
0 votes Share Flag Sat Feb 23, 2013 Investment Properties in 60622
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