Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Buying in Lansing : Real Estate Advice

  • All51
  • Local Info1
  • Home Buying17
  • Home Selling0
  • Market Conditions3

Activity 16
keeppushing55, Home Buyer in Burnham, IL
Thu Mar 19, 2015
keeppushing55 answered:
If you really like the house, make a counter offer. If the seller won't budge, you must decide if it is worth it to you to spend the money out of your pocket to make the updates. Compare the selling price of the house with the added expense of updating it to the price of similar houses in the community. This will allow you to make an informed decision. Good luck! ... more
0 votes 12 answers Share Flag
Ranj Mohip, Real Estate Pro in Chicago, IL
Tue Jul 8, 2014
Ranj Mohip answered:
You have to examine the tax bill and the assessed value. Often, the property is being assessed higher than the current value, and that in turn will affect the taxes.

Attorney Ranj Mohip is a Chicago real estate attorney. The information in this answer is general information and is not intended as legal advice. Further, answering this question or otherwise contributing as a member of Trulia.com does not create an attorney-client relationship. Remember--consult the best real estate attorney in Chicago or in your respective area. Contact us at http://www.ChicagoRealEstateAttorney.com for more information. ... more
1 vote 3 answers Share Flag
Frank, Home Buyer in Lansing, IL
Fri Feb 14, 2014
Frank answered:
Thanks Dan and Synthia for the advice. Synthia I would be interested In a contact for Wintrust and a search for Lansing, thanks.
0 votes 3 answers Share Flag
Ashley Pimen…, Real Estate Pro in Lombard, IL
Mon Dec 16, 2013
Ashley Pimentel answered:
Hello Ursula,

You shouldn't have a problem getting a mortgage, assuming you are qualified. Lenders look at your income, assets, liabilities and credit report. Your first step is to find a lender. I work with over 40 lenders, to provide more opportunities for my clients. Feel free to contact me with questions, or to get started.

Thank you,

Ashley Pimentel
Market Place Mortgage
Lombard, IL 60148
Phone: (630) 217-7013
apimentel@marketplacemc.com
... more
1 vote 4 answers Share Flag
Kara Morris, Real Estate Pro in Sugar Grove, IL
Mon Dec 16, 2013
Kara Morris answered:
The underwriting guidelines for income ask for proof that it will continue for a minimum of 3 years - so it's just math to figure that out. I'd be happy to run through the numbers with you. The other advice posted about credit report and assets would also factor in. I can be reached best at 630-877-4663. ... more
0 votes 6 answers Share Flag
Kelvin Waits, Real Estate Pro in Chicago, IL
Sat Sep 21, 2013
Kelvin Waits answered:
You should start by having your credit evaluated by a loan officer equipped to give you sound advice about your particular credit situation. There are a lot of different factors that can negatively impact your credit score.....and scores are not the only factor to consider when applying for a mortgage.

Kelvin Waits
VP of mortgage Lending at Guaranteed Rate
630 925-7854
... more
0 votes 5 answers Share Flag
Kesha Stanfo…, Real Estate Pro in Lansing, IL
Sun Jul 28, 2013
Kesha Stanford answered:
I am a Lansing agent. My office is right in Lansing we have any information about the area you would need. Contact me anytime.
0 votes 9 answers Share Flag
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Tue Jul 2, 2013
Suzanne Hamilton answered:
Rental is possible with a 525 - depends on the credit history and if you have any bk, etc. However, no job is going to be an issue. You can be just starting a job - but you need a letter of offer and need to be able to verify employment. If you can pay a few months in advance, that may help, but otherwise, landlords need proof of income.

Please feel free to contact me and I can advise you personally on that area.

Suzanne Hamilton
RE Homes Source
Managing Broker.Owner
888-788-9544
suzanne@remarketingconsultants.com
... more
0 votes 2 answers Share Flag
Debra (Debbi…, Real Estate Pro in Livingston, NJ
Fri May 3, 2013
Debra (Debbie) Rose answered:
Melissa, as you can see from all the other responses - there are a number of reasons....and........it's not always about the number.
0 votes 6 answers Share Flag
Danika, Other/Just Looking in Lansing, IL
Sat Mar 23, 2013
Danika asked:
ihave explored a few HUD.GOV and NACA programs, but the process has been slow. I am positive there are many directions I can go in to find a home, Im just not sure how to do it. A little…
0 votes 0 Answers Share Flag
Randy Schule…, Real Estate Pro in Saint Charles, IL
Tue Aug 7, 2012
Randy Schulenburg answered:
Laquisha,

A local Realtor can pull up all rentals in that area and help you identify which properties may accept Section 8.
0 votes 1 answer Share Flag
Edith Karoli…, Real Estate Pro in Winnetka, IL
Sat Jun 23, 2012
Edith Karoline Jasser answered:
Well as long as you do not have a mutually agreed upon, signed and delivered contract and you still need to go through "Attorney Approval and Inspection", you are free to look at other properties, not sure why you would....... when you made this offer did you not feel that this is the best home for you so far, i.e. after all you have seen? If not then may be you have not seen enough..... you want to make an offer when you have seen enough homes, and when you see the right one, in style, size, updates, age, location, floor plan and price YOU WILL KNOW THIS IS THE ONE

Once you made an offer, concentrate on the contract negotiations, the inspection etc. and when it comes together you hopefully made an offer on the right home, otherwise if it falls apart, go and look at other homes.

Are you working with a buyers agent, i.e. a Realtor who is working on your behalf and in your best interest only, he or she will be your designated Agent, a buyers agent is mostly free to you as they
get paid by the sellers side at the closing...... but they represent only you in the contract negotiations, and they will guide you through the entire process with experience, expertise and
know how, including whether you have seen enough homes, if this home was priced right and
what you should offer, get you pre-approved by a lender and so much so much more, to make
the search and the purchase of a home a pleasant experience and lead to a successful closing.

Sincerely yours,
Edith YourRealtor4Life! and Chicago and North Shore Connection
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike
Covering most if not all of the city of Chicago, the fine homes on the North Shore, and all N and
NW suburbs and many of the W and SW sub as well.

EdithSellsHomes@gmail.com EdithDoesItRight@yahoo.com (preferred)

@Properties Chicago and Northshore 30 Green Bay Rd Winnetka Illinois 60093
web htttp://www.tinyurl.com/MeetEdithHere (search for properties, contact me,
get to know me and my expertise and services :)
Have the most wonderful Day.....
... more
0 votes 1 answer Share Flag
Thomas Adams, Real Estate Pro in Flossmoor, IL
Sat Jun 23, 2012
Thomas Adams answered:
If you have an accepted offer with earnest money down you could be putting that money at risk, you could also be sued for performance.
You should consult with your attorney.
0 votes 1 answer Share Flag
Michael Ofsa…, Real Estate Pro in Grayslake, IL
Thu Aug 26, 2010
Michael Ofsanik answered:
The last thing you want to do is rush into a house that's not right for you. Consider renting if an agent can't help you find YOUR perfect house.
0 votes 10 answers Share Flag
Jake Johnson,  in Melville, NY
Wed Jun 17, 2009
Jake Johnson answered:
We can!! We are still doing purchases down to 531 credit scores and we are a nationwide lender! Please email me at jjohnson@lendamerica.com. Talk to you soon!
0 votes 4 answers Share Flag
Jeff and Gin…, Real Estate Pro in Vero Beach, FL
Wed Sep 17, 2008
Jeff and Ginny Mitchell answered:
Check on the current rental rates in your area. Lansing is a good candidate for rentals if the property is close to the campus. Do you need to have the rent come close to covering the mortgage, insurance and taxes? That will be challenging because there are an abundance of available. Can you afford to buy now that prices are fairly low, and carry the costs for a while until the market improves and rental rates increase?

As far as actually leasing the property, you should get a credit report from any applicant along with references and employment information. If you rent to students, ask for parent contact information and try to lease to the parents if possible or at least have them co-sign and have the student(s) be the occupant. Be sure to have the first month, last month and security deposit before you allow anyone to move in. Have a real estate attorney write the lease, so that you protect your rights to inspect the property, spell out conditions of occupancy, and so forth and so forth.

Take extensive photos of the property to clearly show the condition of the property pre-rental, and again when the tenant moves out so that you can prove if there was actually any damage for which you can withhold security deposit money. Be careful that you know how to hold pre-paid rent and security deposit money legally. There are state rules and regulations. There are entire series of courses for licensing in property management. I have only touched on the surface.

You might want to consider hiring a property management real estate agent to help you with all the details. Good luck.
... more
0 votes 1 answer Share Flag
Search Advice
Search
Home Buying in Lansing Zip Codes

Followers

97