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Home Selling in Chicago : Real Estate Advice

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  • Local Info378
  • Home Buying1K
  • Home Selling273
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Activity 526
Mon Sep 18, 2017
Carol Roeske answered:
I work for a 100% commission brokerage. Advertising a lower commission rate works well for me. I would rather have more listings at a lower commission than less at a higher rate. I keep busy and I work with many different people which has turned into many referrals. Although, when I work for a lower commission, I take the lesser part of the cut. I know it should not happen, but I do not want to take a chance that a buyer's agent will skip my listing because of the commission. I may give a discount commission but I am very clear, that is where the discount ends. My service, professionalism or marketing strategy is not discount quality. I am trying to benefit both myself and my client. Face it, we all have to make a living and save where we can. Real estate is not hopping 12 months out of the year, we have our slow season and this helps me through. ... more
0 votes 24 answers Share Flag
Sat Sep 16, 2017
Jerry Kirschner asked:
Fri Sep 8, 2017
Amyshields asked:
2039 W Thomas St, Chicago IL 60622
Open houses
9/9 11am - 1pm
9/10 10am - 12pm
0 votes 0 Answers Share Flag
Wed Aug 30, 2017
Sandra Imlach asked:
this is a lot and a half over 6000 sq feet
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Fri Aug 18, 2017
Kinzie33 asked:
due to the rough patches, I am afraid she will draw out the process intentionally. 3 of 4 want to sell to an outside buyer. Scenarios to consider?
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Thu Aug 17, 2017
Jeff Nobleza answered:
Give me a call or email I have potential buyers for them.
(trulia now doesn't allow me to put my phone number or email here)


Jeff Nobleza
Baird and Warner
2762 N Lincoln Ave
Chicago, IL 60614
... more
0 votes 2 answers Share Flag
Fri Aug 11, 2017
Antoinette Kizak asked:
Sat Aug 5, 2017
Bktamene asked:
The lease will be good until it's over but what is their right interms of showing ? Is it just for the last 30 days or 60 days
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Tue Jul 25, 2017
Cityfront asked:
Sat Jul 22, 2017
Bobbyg answered:
I am a licensed real estate broker, my name is Bobby George. I do 4% total commission to sell your property. With plenty of experience in the business I would love to serve all of your real estate needs. Feel free to contact me at any time.

Sincerely: Bobby George
Avian Realty
708-351-3900
... more
0 votes 19 answers Share Flag
Tue Jul 18, 2017
Anthony Cavalea IV answered:
Sun Jul 9, 2017
Ckschowe asked:
My sister in law passed away. We offered a deed in lieu of foreclosure, the bank wouldn't even talk to us. Now they want us to do a short sale.
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Thu Jun 29, 2017
Gaby051 answered:
I had the same issues when I was selling my house. I THOUGHT it was priced right, but I was wrong. The moment we lowered it to a reasonable amount, we had 2 offers immediatley. Maybe it is your price. ... more
0 votes 2 answers Share Flag
Mon Jun 5, 2017
answered:
Hi Mereh1,

Unfortunately FHA updated their guidelines last year to make it more difficult for people to have more than one FHA mortgage at a time.

Here's what I mean. FHA now requires that you have 25% equity in the home that already has the FHA mortgage on it in order to be eligible for a 2nd FHA mortgage.

Prior to this change, FHA didn't have the 25% equity requirement as long as you were moving at least 100 miles away from the current home for work or to find work.

If you're going to sell your home in California & you want to buy a new home here in Texas you can apply for a new FHA mortgage & it's no big deal.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
jburke@gpbankTX.net
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
(877)228-9069
NMLS# 787231
http://www.trulia.com/mortgage-lender-profile/MTG%20Banker/#reviews
... more
0 votes 1 answer Share Flag
Wed May 17, 2017
Emaliszewski asked:
possible ... Good morning. My name is Erin. I'm selling my property at 2042 N. Point Street in Logan Square in Chicago. If I put in the neighborhood, it doesn't immediately pop…
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Mon May 8, 2017
Paul.mcculloch275 answered:
You should always follow code, but you may want to ask your local inspector if homeowners are permitted to put in whatever they wish provided it meets state code which PEX does however Chicago is like it's own country so you will want to be careful there.

Otherwise PEX is a great product with most likely at least a 25 year warranty with a life expectancy of 100 plus years if installed correctly. What do you get with copper ...most likely a 1 year tail light warranty from the contractor.

Lastly PEX does not allow mineral build up, is flexible and is most cases freeze resistant which is a great application for hose bibs. My friend ran pex to his dog house and has been exposed to cold weather for 7 years without fail now.
... more
0 votes 11 answers Share Flag
Wed Apr 26, 2017
cfrlaw answered:
When you list your property with a real estate agent, it will contain a term which describes who gets the earnest money in the event of buyer default. The purpose of an earnest money deposit is to provide assurances to the seller that the buyer has a legitimate interest in the property. When a buyer submits a purchase agreement, it will state the conditions under which the buyer will lose the right to his/her earnest money deposit. If the buyer defaults he/she forfeits their earnest money deposit.

Once there is a forfeit, you look at your contract with the real estate agent to determine who gets the earnest money. In my opinion, the seller should get the earnest money because s/he is carrying the property and incurs expenses while waiting for the deal to close. If the deal falls through, the agent can still collect his/her commission on a second sale. Moreover, if the sale falls through because the agent did not do his job (for example the agent did not properly review an "all cash" buyer and found out that the buyer does not have the funds to close the deal), it seems unfair that the agent should share in the earnest money.

I actually think that allowing an agent to get any of the earnest money is a conflict of interest for the agent. They can make money by "tanking" the deals. I had a situation where the agent got 50% of the earnest money on a million dollar listing. They had two sellers walk away because of default. The agent then sold the house to the third buyer. The the agent walked away with their full commission and earnest money payment that was MORE than their commission. Meanwhile, the owner of the house carried the house for over a year waiting for a sale and seeing sales fall through for reasons relating to the shortcoming of the agent and the agent's review of the qualifications of the buyers.

I would recommend negotiating that the seller gets 100% of the earnest money. Alternatively, the agent should get no more than what they would get if they sold the property, typically 3% or 6%. Sales people do not get paid for failing to perform, neither should real estate sales people.
... more
0 votes 16 answers Share Flag
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