This property has been a rental property that's why the taxes don't reflect any exemptions. It's currently temporarily off the market as a rental also.
Considering there are no pictures other than the exterior, there very well may be a reason for that...they don't want you to see it. The listing mentions the 2nd floor as being unfinished with lots of potential which may mean it will require a rehab loan in order to purchase it.
Buyer is to assume village repairs. Elmwood Park is a municipality that requires a property be inspected by the village before it is sold. I assume the owner has not had the inspection as the property disclosure supplied online doesn't indicate any issues with violations the property may have with the village. So, beware that there may be issues once the inspectors come.
Last thing I can tell you about this property is that it apparently is overpriced for whatever condition it is in. Homes that are well priced in most areas, including Elmwood Park, are not lingering on the market since July with only a $10k price drop from when it came on the market.
If this sounds like a property that you want to find out more about, feel free to give me a call and I can see what else I can find out from the listing agent and/or I can take you through it if you aren't presently working with an agent.
If this doesn't sound like a property that could work for you, I'd be happy to help you find one that better suits your real estate needs.
Keller Williams Realty Partners
Some agencies are so large there is very little contact between agents and no one is going to blow a deal by conspiring to increase commission for a little extra. Remember, either agent is still paid the same commission percentage by their broker. The only one that benefits from the same agency is the agency. Realtors are independent contractors and work on their own regardless of the agency.
While this would be considered an dual agency situation, there are specific laws and rules in Illinois to ensure both clients agree to the arrangement and are protected.
The long and the short is your Realtor represents you regardless of if they are with the same agency. And as the buyer, you have control of what you pay. You need to trust your Realtor. And if you suspect cause that you should not trust them, then you need to discuss with them.
No, there is no conflict of interest, so long as the agents are doing their jobs properly. The commission is the same regardless of whether the two agents work for the same broker. The commission IS tied to the purchase price, so in ANY transaction your statement is true: the higher the purchase price, the higher the commission (unless the commission is a flat fee determined in the sales agreement). The Seller's agent represents the interests of the seller and the Buyer's agent represents the buyer. Just because they work in the same office, they should not be sharing any information with each other that might damage their client's negotiating position. Even if they are married, as long as they are doing their job properly there's no conflict of interest. In Florida, where Transaction Brokers work both sides of the deal, even the SAME INDIVIDUAL, knowing the secrets of both parties, can act as a limited representative to both sides and conduct a sale/purchase with no conflict of interest, AS LONG AS S/HE IS DOING THEIR JOB RIGHT. It all comes down to ethical conduct.... more
I was an original owner in the 8 townhouse collection there (4th Unit, closest to the alley, southside.) The units were really nice, although some of the construction was cheaper wood and we had to have things touched up. A few of the front units had some flooding problems back then, but that may have been fixed.
The big issue is the draconian housing association and the ridiculous monthly costs. Make sure you read the laws and such. The president of the association when I was there (has to be gone by now, she lived in the 4th unit on the north side, across from me) called the cops on my 4 year old son and me when he wrote on the sidewalk with chalk. She told the police it was gang writing. It was a rainbow and a dog. She called the towing service on a Brinks Service Van that parked in our driveway to come install a security system for one of the unit owners. Anyway, the garage's were setup terribly, they should have just made parking spaces.... more
Almost any home inspection can do a termite inspection. They cost around 75.00. Do you need this to close on a home? You can also call terminex, I don't know how much they might charge. It's not expensive at all.
Home this helps. Look up home inspections in the internet. Not difficult to find.... more
Absolutely not. Do your homework and get referrals and references. Find someone who will get building permits too. Doing work without a permit can come back to bite you.
203k loans require an approved contractor and all sub contractors have to be licensed if required (plumber, electrician, HVAC). You can act as a contractor but must maintain certain insurance policies and all of the work has to be done by others who are licensed or approved. Visit the FHA/HUD website for more info on 203k loans.... more