Home Buying in Chicago : Questions & Answers

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tim moore, Real Estate Pro in Nags Head, NC
tim moore answered:
I asked a question below that's more detailed but does anyone have contacts for bank owned properties and foreclosures?
Banks list properties they get at foreclosure with Realtors and so they are listed on the MLS systems the Realtors use. Just contact a local Realtor - it's free since the sellers pay th ... more
0 votes Share Flag A few hours ago Investment Properties in Chicago
Kev, Home Buyer in Chicago, IL
Kev asked:
New to real estate investment. Looking to move into it and build great working relationships along the way. I've been doing my due diligence but anyone able to provide information on residential real estate (1-4 units), foreclosures, short sales, up and coming areas of Chicago, great property…
0 votes Share Flag A few hours ago Investment Properties in Chicago
USMortgageRa…, Real Estate Pro in Austin, TX
USMortgageRanger answered:
After Bankruptcy, how soon can I purchase a home
After the BK is discharged in a Chapter 13 the waiting period is 2 years for conventional and 7 if dismissed, 1 year for FHA & VA and 3 for USDA and on a chapter 7 the waiting period is ... more
0 votes Share Flag Sat Dec 20, 2014 Home Buying in Chicago
Bob Brandt R…, Real Estate Pro in Schaumburg, IL
Bob Brandt Re/Max 847-230-7303 answered:
Is there a central location to find out what real estate has developer and owner financing in Chicago. nterested as an investor and for personal use.
Yes, the Realtor MLS has that info. Ask your Realtor for what you want and like the big jolly red suited guy, they will deliver if you have been good.
0 votes Share Flag Sat Dec 20, 2014 Home Buying in Bucktown
USMortgageRa…, Real Estate Pro in Austin, TX
USMortgageRanger answered:
How do I find mortgage lenders that are willing to work with those with poor credit?
We are a Chicago bank and we do help clients who want to purchase a home but have some credit issues. I am here to help you make the best decision for your family based on sound respons ... more
0 votes Share Flag Thu Dec 18, 2014 Home Buying in Hegewisch
Matt Laricy, Real Estate Pro in Near North Side, Chi...
Matt Laricy answered:
Want to buy condo in mixed use building with 5% down. Does this type of building have limits on the amount you have to put down?
Yes you typically need 20% down to buy in these.
0 votes Share Flag Thu Dec 18, 2014 Home Buying in 60647
Matt Laricy, Real Estate Pro in Near North Side, Chi...
Matt Laricy answered:
Where can I find a real estate agent in Chicago who has expertise in dealing with FHA 203k loans?
There is a lot of agents that do. However, the most important thing is to get an agent who knows lenders that are good at these.
0 votes Share Flag Thu Dec 18, 2014 Home Buying in Chicago
Danielle Nic…, Real Estate Pro in 63017
Danielle Nicholl answered:
I signed a disclosure to sell my house and now I discovered a crack pipe.
I highly recommend to disclose everything. When a prospective buyer does the building inspections it is likely the will see signs of the repairs or previous damage & will wonder what el ... more
0 votes Share Flag Mon Dec 15, 2014 Home Buying in Chicago
Gary Geer, Real Estate Pro in 60031
Gary Geer answered:
I have tenants that are interested in buying my condo. Do I need or do they need a reality agent or just lawyers?
Anthony,
You may want to at least have an attorney represent your interests. Many issues can come up that would require an advocate on at least your side.
0 votes Share Flag Sun Dec 14, 2014 Home Buying in 60618
Lucid Realty, Real Estate Pro in 60622
Lucid Realty answered:
How do I take a look at properties? I am interested in a few locations that are listed.
Why don't you give me a call at 312-738-0232. We are a full service brokerage and we also share our commissions with our buyers if you spend more than $200,000. It can be worth at least ... more
0 votes Share Flag Sat Dec 13, 2014 Home Buying in 60645
Sue O'Kane, Real Estate Pro in 60005
Sue O'Kane answered:
Looking to buy a house. Problem is I have bad credit&my husband no credit. We have $10k saved for a down pymt. What are the chances of finding loan?
$10,000 down is a good start, but your lender will want to confirm your ability to pay back the loan. Since your FICO score shows poor ability to pay creditors, many lenders will not ta ... more
0 votes Share Flag Fri Dec 12, 2014 Home Buying in 60804
Sue O'Kane, Real Estate Pro in 60005
Sue O'Kane answered:
Do I need 20% cash to make a offer ??
No, but it helps though. It used to be that 20% down was the standard amount required. Nowadays, with the help of the FHA, you can put as little as 3% down. It all depends on your abili ... more
0 votes Share Flag Fri Dec 12, 2014 Home Buying in 60647
John Griffin, Real Estate Pro in Mendham, NJ
John Griffin answered:
Fannie Mae & Mold
If you are lucky and ask around, you are likely to 1) reach an agreement with the bank and 2) Find a reputable mold remediation company that will do the work, with the expectations of p ... more
0 votes Share Flag Thu Dec 11, 2014 Home Buying in Chicago
Christy Star…, Real Estate Pro in 60614
Christy Starks answered:
Im looking at a place in bucktown that the unit opens with the elevator and has a massive rooftop deck.
Elevator's definitely add value and open the market considerably for more buyers. Opening into the unit can sometimes be considered a drawback depending on the access entry to the unit ... more
0 votes Share Flag Thu Dec 11, 2014 Home Buying in 60647
Molly E Mari…, Real Estate Pro in Chicago, IL
Molly E Marino answered:
Looking for a two flat in Jefferson Park for $150-$160K. Any pockets?
Hi Michael,

I live in Jefferson Park and have a solid understanding of the prices in this area -- there really isn't much under $240K in JP. What condition are you expecting? Perha ... more
0 votes Share Flag Wed Dec 10, 2014 Home Buying in Chicago
Randy Tanner…, Real Estate Pro in Wellington, FL
Randy Tanner & Lindsey Racher answered:
How does an agent get a VIP 1 badge?
Look up the Trulia VIP program on Google.


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0 votes Share Flag Wed Dec 10, 2014 Home Buying in Chicago
garypuntman, Other/Just Looking in Los Angeles, CA
garypuntman answered:
Looking for a reliable general contractor for a multifamily rehab project. Any suggestions?
I need a contractor as well. I need someone who can do some work on my new office building. I need to make sure that everything gets installed correctly. Were you able to find someon ... more
0 votes Share Flag Fri Dec 5, 2014 Investment Properties in Chicago
Mike Opyd, Real Estate Pro in Near North Side, Chi...
Mike Opyd answered:
What is the risk in buying in a mixed income building, Parkside of Oldtown to be specific?
It is difficult to get a loan in these buildings because of the CHA units there. Many lenders will not do a loan there but there are lenders who will. The only real downfall is resale i ... more
0 votes Share Flag Wed Dec 3, 2014 Home Buying in Near North Side
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