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Home Selling in Will County : Real Estate Advice

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  • Local Info2
  • Home Buying15
  • Home Selling3
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Activity 91
Arlette, Renter in Plainfield, IL
Thu Apr 18, 2013
Arlette answered:
This could actually be favorable for you. Your house will stand out but there certainly are some downsizes in that it doesn't welcome buyers. Use it best to your advantage.
0 votes 7 answers Share Flag
Lester S.  , Real Estate Pro in
Wed Apr 10, 2013
Lester S. answered:
Hi Refresh....have you sold this home yet or is it on the market? I have a current pre-approved buyer looking in the area and willing to do some updates/work. We were out last weekend and going out again this Friday. Reply directly to my personal contact info below because clicking the reply link below does not alert us or get forwarded to us.

Thanks,

Lester S.
"Lester the Lister"
RE/MAX 1st
630.207.2532
LestertheLister@yahoo.com
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0 votes 6 answers Share Flag
Michael Sims, Real Estate Pro in Joliet, IL
Tue Mar 26, 2013
Michael Sims answered:
#1 consult with your attorney! Then, let the trustee know that you are trying to short sale the home when you go to the 341 interview. They will usually sign off on the transaction at that time and have it ratified next time you are in court. If you have an offer, make sure to bring it with you to the interview. ... more
0 votes 5 answers Share Flag
Michael Sims, Real Estate Pro in Joliet, IL
Tue Mar 26, 2013
Michael Sims answered:
Norma, what you are referring to is called an EXCHANGE. you would have to find someone who is willing to trade you for your house. Many exchanges are 2, 3, or 4 levels deep and VERY COMPLEX. It is not a casual encounter for even a seasoned real estate agent. There are exchange clubs that may have experienced professionals in your area. Also as an escrow company executive who does these types of deals in Magalia CA.

Also consult your tax professional. You can also do what is called a TAX DEFERRED EXCHANGE whereby you sell your home and then put the money in escrow until you find another home.
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0 votes 3 answers Share Flag
Michael Sims, Real Estate Pro in Joliet, IL
Mon Mar 25, 2013
Michael Sims answered:
There are a lot of factors involved with the overall performance of your FSBO than just hosting an open house Having an open house may not cure the problem. When you offer a house for sale by yourself, you are sending out some messages that may turn away truly qualified buyers. First of all, you are alienating the brokerage community as listed homes are safe to earn a commission in, FSBOs are not. FSBOs are uncontrollable and not bound by the Realtor Code of Ethics. Second, you are communicating a message that you want a high price for the property, probably higher than it should be. While that may not be your intention, many other FSBOs do, and you are in the same huddle with them. Third, you are telling people that you do not find value in hiring a qualified professional to represent your interests. There is a lot more that goes into professional representation than just paying a commission. Realtors have liability insurance, continuing education, licensing requirements and adhere to fiduciary and ethical standards. We also devote more time to marketing a property and have experience with more than one property every 3 to 10 years.

An open house alone will not bring in more buyers. It takes a concerned effort and considerable promotion to have a successful open house. A seasoned professional knows how to turn the casual buyer into a well qualified prospect.
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0 votes 48 answers Share Flag
Michael Sims, Real Estate Pro in Joliet, IL
Mon Mar 25, 2013
Michael Sims answered:
Jen,
There are a number of stipulations that LICENSED brokers have when listing a house with a guaranteed purchase plan. Basically the purchase price must be stated in listing agreement and how it is calculated and after what time frame. Recently there have been companies who are using a 2 step approach to purchasing your home. They claim to list it and then resell it and do so with 2 or 3 companies, somewhat related. I am a little leery of these types of transactions since they can backfire and wind up with you losing more than necessary. The way you describe your situation it seems that a standard short sale listing would probably fit the bill. I have been doing distressed property sales for over 20 years and can help you tremendously. Remember, there are no quick fixes to a complex problem without sacrifice. If you want to take a quick way out, it may cost you dearly. ... more
0 votes 6 answers Share Flag
Tamara Schus…, Real Estate Pro in Naperville, IL
Tue Dec 4, 2012
Tamara Schuster answered:
This is a great question to ask. The list varies month to month. The list also includes REO agents who sell only foreclosures in mass quantities.

I will be happy to provide you with the list of agents if you contact me. If you personally, are looking for an agent you want to have a list if your needs ready and interview three agents. Start with the phone or meet at the agents office. First make sure THEY ARE FULL TIME. If possible listen to their voicemail, email and text to see how quickly they respond. Of course if they are with a client allow up to 3 hours as an agent does not answer a phone when in front of a client.

The list should include your needs and how they agent will meet your needs. Will the agent be contacting you directly or will their assistant be contacting you? DO they use an 800# or do they personally talk to the agents showing your home. If you are selling how much time and money will they devote to your personal listing? Are they relocation certified? How large is their company and do they have national and international backing? How long can I expect my house to be on the market? What do you do that sets you apart from the rest?

As for the top three agents in the Naperville area I would take out the agents who sell primarily foreclosures, then I would ask for the top 20% agents as they usually do 80% of the business. This should be single agents, not teams as some top agents are a group all under one agents name so it needs to be accurate.

Like everything else, how we do Real Estate has changed and make sure your agent provides the latest technology and the social media that is required to thrive in today's real estate market. The agents who answered this are considered top in my book as they are actively using Trulia to be informed and keep current on the latest Real Estate news and updates. Trulia is a great resource and agents active on TRULIA are truly the TOP AGENTS in the area as they are savvy when it comes to the internet and on the cutting edge of technology.

AND MOST IMPORTANTLY REAL ESTATE IS ABOUT YOU AND THE AGENT YOU PICK SHOULD MEET AND EXCEED YOUR NEEDS.

Look online and find out who has the best exposure if you are selling. If you are buying or selling look on Zillow and Trulia for testimonials of the agents.

Great question.
Tamara Schuster, Real Estate Agent. Broker
Naperville Illinois and Chicagoland
www. BrokerOfNaperville.com
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0 votes 7 answers Share Flag
Deneen Ruffo…, Real Estate Pro in Darien, IL
Tue Sep 4, 2012
Deneen Ruffolo answered:
SHORT SALE!! Get it up on the market. I specialize in distressed properties and we can get them through with your job relo hardship and change of market . Also working with the attorney to get it through and there is no cost to you the bank will cover that cost for you. ... more
0 votes 11 answers Share Flag
Janet Carlson,  in Northbrook, IL
Tue Aug 7, 2012
Janet Carlson answered:
1. Agree on price and terms of sale " closing date . Must get a contract . Either on line or purchase one at office supply store.

2. Hire good real estate attorney. You might think you can do this on your own , but need professional advice.

3. Make sure you have preapproval/approval of mortgage agreement. even with cash, make sure it is available.
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0 votes 11 answers Share Flag
Marianne Hof…, Real Estate Pro in Naperville, IL
Wed Jun 20, 2012
Marianne Hofmann answered:
I know of one Naperville attorney that charges $300 each. I like him very much.
0 votes 8 answers Share Flag
Peter Kedzior, Real Estate Pro in Elk Grove Village, IL
Tue Jun 12, 2012
Peter Kedzior answered:
Please keep in mind that most lenders will require that you first collect a full year of rental income (from the lease of your current home) before you can claim it as additional source for financing of your second property. ... more
0 votes 3 answers Share Flag
Amy Bendigke…, Real Estate Pro in Glen Ellyn, IL
Fri May 4, 2012
Amy Bendigkeit answered:
To increase your homes salability updates in the kitchen and baths are always a great idea if done neutrally to please most buyers. Updates including painting outdated cabinets(rustoleum has a great new product called cabinet transformations) and shiny new hardward can go along way. Earlier this year I discovered this great sorce for granite at very reasonable prices and they installed within 3 Days.Factory plaza. http://www.factoryplaza.com/. ( my home depot quote came in at over double the price of factory plaza!)You can ask to see if they have any remnants. Stick with a classic crowd pleaser like uba tuba.
Make sure all your appliances are the same color if youcan't upgrade to stainless. Check out the new Habitat for Humanity restore http://www.dupagehabitat.org/restore/DiggersList.aspx for appliances and remodeling supplies also HOBO (homeowners bargain outlet) http://www.hoboonline.com/departments.html has alot to offer at bargain prices..I think they have a great tile selection!
Something that doesnt cost money but alot of energy is to JUST START PACKING and purging your belongs~ start in the order a buyer will go thru your home~at your front door! It's ok to do the garage last..you have to have a "holding bin!" Not only will it help your home look more inviting and spacious but it is a sign of motivation! Good luck!
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1 vote 5 answers Share Flag
Amanda Pile, Home Seller in Plainfield, IL
Mon Apr 30, 2012
Amanda Pile answered:
I agree with Alan from Evanston.

First impressions are the most important when trying to catch a buyers attention. As you know, Trulia can find many homes in a general area in one fast search. If you do not have photos, or in your case have very limited, unappealing photos, then the buyer will make one simple click onto the next result and you have lost any chance of following on to a showing. Pictures should be the best of what you have to offer. ... more
0 votes 19 answers Share Flag
Suzanne Hami…, Real Estate Pro in Orland Park, IL
Tue Mar 13, 2012
Suzanne Hamilton answered:
There are several options that may be available to you, depending on your situation. I would be happy to point you in the right direction. Feel free to call or email.

Suzanne Hamilton
RE Marketing Consultants, Inc.
888-788-9544
suzanne@remarketingconsultants.com
... more
0 votes 8 answers Share Flag
Frank Dolski, Real Estate Pro in Lahaska, PA
Sun Nov 13, 2011
Frank Dolski answered:
David Foote, Real Estate Pro in Naperville, IL
Wed Oct 19, 2011
David Foote answered:
Gary is correct. You need to discuss this with all parties involved in the contract through your respective attorneys. However, the reason you sited here, not being ready to move, makes me throw caution your way, and your attorney will advise of such also. Most closing dates can be moved up or back within reason. When you signed the contract you entered into that agreement on good faith that you could perform the sales contract as written. Requesting a change in the closing date is modifying the agreed terms of the contract. Unreasonable delays could become a problem for you: just because you ask everyone for an extension on closing does not guarentee that the buyers will grant your request. The buyers may have issues on their side whereby their landlord or their buyers must have possession by a certain date. Be prepared that YOU may have to be the one to find temporary housing. As Gary suggested, contact your attorney and your designated agent. ... more
0 votes 3 answers Share Flag
Tamara Schus…, Real Estate Pro in Naperville, IL
Mon Oct 10, 2011
Tamara Schuster answered:
Highest volume of sales depends on so many different factors and varies greatly month to month. A realtor may stand out as the best to in terms of volume sold, however when you dig deeper they are usually part of a team with the numbers grouped together which is a whole different game. Furthermore you have to look at the whole package a agent has to offer such as Full Service, Full Time and truly what will they do for you. I know agents that are not the highest volume of sales in Naperville however they are by far the best as they will give you all the attention and service and unbeatable marketing plan that spares no expense to ensure you get the most for your home in the shortest time. This is a changing market and you want a cutting edge agent who is on top of it for you and will give you everything you need to make your selling or buying experience rewarding. ... more
0 votes 7 answers Share Flag
Annette  Law…, Real Estate Pro in Palm Harbor, FL
Sun Oct 2, 2011
Annette Lawrence answered:
John,
HAFA is a US Government program that is facilitated through home mortgage lending companies. The answers you have read below are correct. Everyone stated you will need to hire a real estate professional.

Let me explain why. Applying for assistance through the HAFA program is just the first step in what may be a very long lived process with real consequences for you. Your real estate professional will guide you through the entire process so you will be in the most adventitious position regardless of the ultimate outcome.

This is a very emotional, very complex process where the rules are an illusion and nearly anything can happen. Having a seasoned professional along side will prove incredibly beneficial.

You have made the most important decision already. That decision was to take action.
Best of success in reaching the outcome most beneficial for you.
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0 votes 5 answers Share Flag
Cecelia Marl…, Real Estate Pro in Chicago, IL
Tue Sep 20, 2011
Cecelia Marlow answered:
Hello Laura,
Unfortunately, your situation is one that many are facing right now. However, most good appraisers will take an apples to apples approach. They will look for properties that most resemble your property in terms of condition, style, and size. However, they can not skip over something on your block even if it was a short sale or foreclosure, so unfortunately, they will have to assess it as well. Hopefully you property is in better condition and they will make price adjustments based on that. These types of transactions are 50/50 depending on who the appraiser is. I would begin considering what your bottom line number is, in the event the appraisal does come back short, such that you have given it some thought before hand and you are not forced into making an emotional decision, vs. a rational one. If you have a solid buyer, it may make sense for you to take a little bit of a price cut, based on appraisal if needed, rather than waiting on another buyer to come around and possibly having the same thing happen. Of course your reason for selling will play a big factor in your decision as well. Hope that helps.

Cecelia Marlow
Chicago Bancorp
Mortgage Banker
312-738-6294 direct
... more
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