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Home Selling in Berwyn : Real Estate Advice

  • All115
  • Local Info7
  • Home Buying41
  • Home Selling11
  • Market Conditions1

Activity 12
Tue Sep 15, 2015
Trevolyn Haines answered:
Just go to your local building department and let them know what happened. They will be happy to help you with the process.

Good luck.
0 votes 1 answer Share Flag
Sun Aug 19, 2012
Susan Dominguez answered:
Not Difficult if You are used to Selling in Berwyn and are prepared for Compliance and other
requirements. Call me I have been Selling and Servicing the Berwyn area for more than 16 years!!
I have seen it all! Call me with Any questions you may be have! Susan Dominguez, Broker Realtor,
Our Family Realty P.C. 708.656.9100 708.369.0436 email:ourfamily6126@yahoo.com
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Sun Aug 19, 2012
Susan Dominguez answered:
Yes! Disclose. You will write in when, appros. how much water and how it happened i.e City sewer problem etc etc.
Alot of People in this area got water in basement in 2010 a couple of times! so Buyers understand
and deserve to know and you deserve peace of mind. It will not deter a good Buyer to buy your property in Berwyn and other surrounding areas.
Some buyers have a private inspection and some opt not to have one. Either way ypu are not obligated to do any work but to just disclose any problems that you Might Know about. That is all!

Call me with Questions you may have on Selling in these areas. I have been selling in Berwyn for more than 16 years so I have seen it all! I have Listed & Sold many many properties and have met alot of Wonderful people leaving our Wonderful City as my Client Sellers and met many nice people coming in to Berwyn as my Client Buyers. Berwyn is a Great Community! Hope to meet you!
Susan Dominguez, Broker Realtor, Our Family Realty P.C. 708.656.9100 708.369.0436 ourfamily6126@yahoo.com
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Sun Aug 19, 2012
Susan Dominguez answered:
State and Cook County Taxes: 1.5% of Sales Price. Berwyn Transfer Taxes:1.0% of Sales Price.
Berwyn Building Compliance Inspection Fee: $100.00 for a 3 Unit ($75.00 for a 2-Unit)
Attorney Fee? For a Regular Sale they Ranch from anywhere from $200.00 (you get answering machine) to $750.00 (Full Service) Best To get a Local attorney since they are very well acquainted with the red tape you may encounter in Berwyn.
Title Insurance depends on the Sales Price(easy to look up online)
Updated Survey Fee? ( Zero-Not needed if you are Selling As-Is) otherwise $350.00 to $550.00 if in rush.
Termite Inspection Fee: about $100.00-$150.00.
Realtor Commissions? 4%-6% Total of Sales Price. Lower typically not full service, Higher end full service and Typically Seller gets a higher Sales price.

In a Short Sale the Seller will NOT pay any fees for Attorney, Title, Survey, State and Cook CTY
Taxes, Berwyn Transfer taxes, Any Realtor Commissions and such forth. Seller Does Not Pay. Lender(s) will pay all Fees for a Accepted Short Sale. Sellers sell As-Is on short Sales.
Call me if have questions on any Fees or need a recomendation on any Services. I have been Listing and Selling in Berywn, Cicero and surrounding suburbs since 1995. Susan Dominguez 708.656.9100 Broker Owner Our Family Realty P.C.
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Wed Jul 27, 2011
Gerard Carney answered:
Most large volume sales agents use other agents to sell for them! :) I know, I have lots of associates!
0 votes 3 answers Share Flag
Mon Mar 28, 2011
Dallas Texas answered:
Must REO will not consider a sales contract if requires you sell your home 1st. Best focus on your home sold then pursue another home purchase

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
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0 votes 1 answer Share Flag
Tue Oct 5, 2010
Laura Karambelas answered:
Bubbles-

Disclose, disclose, disclose. There is a part on our Illinois Sellers Disclosure where you can write an explanation.

I hope this helps!

Laura Karambelas
Short Sale & Foreclosure Resource Agent
Baird & Warner
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Tue Oct 5, 2010
Kevin Olson, Jessica Laude answered:
Disclosure is like a free insurance policy. It is your chance to CYA at no cost. Disclose anytime you are in doubt, even if you weren't at fault.
1 vote 2 answers Share Flag
Tue Oct 5, 2010
Robert Lisk answered:
I am rehabbing homes in Berwyn and I think their building department is far tougher than most. They do an inspection prior to a sale and outside of some simple replacement modifications, it ought to be fairly easy to tell if work has been done. Unfortunately Berwyn wants to be involved in all aspects of the work so even something like new tile is going to raise a red flag for them and may complicate the sale. As a builder I would hope you would not interfere by alerting the building department but the lack of a permit may slow the process and potentially be a financial strain to the seller. Any inspector, if he/she realizes work has been done, has the right to demand that things be opened to expose any hidden work.

It is not the responsibility of the inspector to make sure that all things have been done correctly. Codes are numerous and are only the minimally accepted standard. If for any reason you feel the new work may not meet code minimums and that safety or workmanship has been compromised, you may be best to follow your gut feeling and walk away. If that is not an issue for you, then just be prepared for some hiccups as you move beyond the city mandated inspection.
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0 votes 5 answers Share Flag
Wed Mar 10, 2010
Grace Hanamoto answered:
Hello Pudgy and thanks for your post.

Forgive me, but I'm going to be a "cold hearted" real estate professional. I am an SRES or Senior Real Estate Specialist and the very last thing I want to see is any senior or individual of retirement age making decisions for which they are forced.

First, I would caution against ever becoming emotionally involved with a buyer. Certainly, as agents, we like to present our buyers as "people" with "families" and "hopes and dreams", but, at the end of the day, this is a business transaction that, hopefully, benefits all equally. While I'm certain your buyers are charming people, don't get too caught up in their "back story" when trying to determine how best to handle your personal finances.

Second, why are people with great credit scores and an annual combined income of $110,000 or maybe separately with an income of $110,000 each and a combined income of $220,000 utilizing an FHA loan? FHA loans are generally for individuals who do not have enough money for a down payment and who do not make enough money and/or who have poor credit scores. Yet at $110K (combined), these buyers gross $9200 per month and probably have a take home of $5300 per month after taxes. At 3.5% for a downpayment, they're only putting down $6500?? Unless they are incredibly poor at financial planning, this $6500 probably represents only 3 months of savings. Or , maybe, they're very good at financial planning and have chosen NOT to spend their savings by using an FHA loan to buy a home.

Now, the home has appraised at $45,000 less than the sales price, which may a fault of the colder weather season in Illinois that prevents a lot of sales activity. The truth is that there is very little that you, as the seller, can do to assist the buyers especially since, as you have already mentioned, you cannot afford to lower the price to $140,000 and I suspect that this would not be such a huge issue had the buyers used a conventional loan and agreed to the standard 20 percent down payment.

While the buyers consider their options (get a new lender, pay more money to buy the home or walk away), you and your agent should be working to determine the current price of your home based on comparables in the area. If the price is too low, it may be time to rent the home or take it off the market for a couple of months to allow the listing to "renew" rather than to be "stale."

Either way, I would resist the urge to accommodate any buyer while also putting your own financial security at jeopardy.

Good luck!

Sincerely,
Grace Morioka, SRES
Area Pro Realty
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0 votes 6 answers Share Flag
Mon May 4, 2009
John Sommese answered:
If you are located in South Berwyn near Mc Neal Hospital or Proska Park then you should be able to sell your home toward the higher price range for the Berwyn market. A good comparable for a home on the market right now is 2900 Maple. It is a newer 2-story brick home with 3 bedrooms and 3.5 baths. This home was built in 1988 and offers 2800 sq ft of space. They are currently asking $345,347.
Prices have adjusted considerably in the area and it would be beneficial for you to sit down with a realtor to get a market evaluation. I

I have been a resident of Berwyn for the past 35 years and have been selling real estate for the past 17 years in the area. If you are interested in obtaining a market evaluation, please feel free to email me or phone me at 708 860-0497
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