60402 : Real Estate Advice

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Laura Karamb…, Real Estate Pro in Downers Grove, IL
Laura Karambelas answered:
i want to sell my home but when we got the heavy rain water came up threw the floor drain would i have to disclose that since it was due to city sewer

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 & ... more
0 votes Share Flag Tue Oct 5, 2010 Home Selling in Berwyn
John Juarez, Real Estate Pro in Fremont, CA
John Juarez answered:
I've found a home that is REO that I am interested in buying for cash, how do I find the name of the bank who is holding the note? Any problems?

Is the house listed for sale? If so, contact a local real estate professional who can help you. I suggest that you get your own agent - not the listing agent - for your own a ... more
0 votes Share Flag Sat Aug 14, 2010 Home Buying in Berwyn
Cherrie Cata…, Real Estate Pro in Chicago, IL
Cherrie Catama-Smith answered:
We are in the final stages of a short sale and the bank had a broker's price opinion report completed. Can we request to see this report?

The bank usually will not allow you to see the report. They order the report from a third party to get an idea of the worth of the home. If I were in your position, I would hav ... more
0 votes Share Flag Tue Oct 5, 2010 Home Buying in Berwyn
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
My husband and I took a line of credit on the 11 room, 3 story house to downsize to a 1 level ranch as he was unable to walk. Shortly after we
What is your agent suggesting--and have you reviewed the recently closed similar properties in the immediate area--if so what does the data suggest as to your offer v. the appraisal--Yo ... more
0 votes Share Flag Wed Mar 10, 2010 Home Selling in 60402
Daniel Kenna, Other/Just Looking in 60103
Daniel Kenna answered:
If I have a bankruptcy that was discharged in July of 09 when can I apply for a mortgage loan. I have owned 2 homes prior to now with no deliquencies.
Two years from discharge date and you need to reestablish some good credit.
0 votes Share Flag Sat Feb 20, 2010 Financing in Berwyn
Joseph Washi…, Real Estate Pro in Berwyn, IL
Joseph Washick asked:
Why is Berwyn, Illinois such a great place to live? Berwyn, Illinois is a near-west suburb of Chicago. It is ideally located mid-way between I-55 (Stevenson) and I-290 (Eisenhower) expressways. Berwyn boasts some of the nicest vintage ...
0 votes Share Flag Sat Jan 2, 2010 General Area in Berwyn
Sergio Canch…, Other/Just Looking in 60402
Sergio Canchola answered:
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deaths in 1244 s. grove berwyn illinois
0 votes Share Flag Sat Oct 31, 2009 In My Neighborhood in 60402
Sergio Canch…, Other/Just Looking in 60402
Sergio Canchola asked:
deaths in 1244 s. berwyn illinois
0 votes Share Flag Sat Oct 31, 2009 In My Neighborhood in 60402
J R,  in New York, NY
J R answered:
hello i am sell my house and i want to take the appliances that we gottin when we bought the house, when we
Excluding appliances is not the best way to make your home attractive to a buyer in this market. Buyers expect a home to have all the appliances. If you still decide you want to take yo ... more
0 votes Share Flag Fri Jun 19, 2009 Foreclosure in Berwyn
Wayne Beals, Real Estate Pro in Chicago, IL
Wayne Beals answered:
I have a two-story frame home in a very nice tree-lined part of south Berwyn. Our home is nicely updated
Hello Kaceylazz,

Berwyn has quite a few foreclosures hit the market recently, and this may or may not impact you.

I would recommend have a Realtor come out to do a CMA on your pr ... more
0 votes Share Flag Mon May 4, 2009 Home Selling in Berwyn
Marita Topmi…, Real Estate Pro in Indianapolis, IN
Marita Topmiller answered:
With some markets being hard hit, how are banks going about getting appraisals now for new loans?
Hi Christine,

As always they call on trained, professional, licensed appraisers.
Or they used to until more and more AMC's owned by banks began cutting the pay appraisers get in hal ... more
0 votes Share Flag Fri Mar 27, 2009 Financing in 60402
Randy Hooker, Real Estate Pro in Chandler, AZ
Randy Hooker answered:
have been qualified for a fha loan is it necessary to also have a down payment
Hi Gloria!

That's a question that your lender should have covered with you. But as of January 1, 2009, a minimum down payment of 3.5% is required n FHA loans. It can be "gifted" to ... more
0 votes Share Flag Sat Feb 28, 2009 Foreclosure in Berwyn
Dana Schuster, Real Estate Pro in Slidell, LA
Dana Schuster answered:
Unless you are applying for a 203K(construction/repair) loan the property has to be in liveable condition. It is not liveable if there are no appliances.
0 votes Share Flag Sun Jan 11, 2009 Foreclosure in Berwyn
Ute Ferdig -…, Real Estate Pro in New Castle, DE
Ute Ferdig - Atty. Negotiator answered:
I am wondering whether the earnest money counts toward the down payment you state you will put down or if it
Hello Sirenya. The earnest money is credited to you at the closing and you can certainly use it as part of the down payment. If you make an offer on a property for $100,000 with a 90% ... more
0 votes Share Flag Tue Dec 30, 2008 Home Buying in Berwyn
Greg Zaccagni,  in Illinois
Greg Zaccagni answered:
what is the better loan for a first time buyer?
VA is great if you qualify. FHA is good if you don't but you will need 3% down payment wih their programs. You can have a seller pay the 3% + up to another 3% in closing costs by usin ... more
0 votes Share Flag Sat Feb 28, 2009 Home Buying in 60402
Wayne Beals, Real Estate Pro in Chicago, IL
Wayne Beals answered:
We're looking at homes in Berwyn and have noticed many have city violations or are non-compliant. Can anyone?
Common violations for homes are outdated electrical service, peeling paint, rain gutters missing or in poor condition, etc. Major issues can be non-conforming basement units, roof repl ... more
0 votes Share Flag Fri Jan 23, 2015 Home Buying in Berwyn
Patti Pereyra,  in Chicago, IL
Patti Pereyra answered:
do I have a chance in buying a loft for next year?
Hi Maria:

I'm not sure what buying in Berwyn has to do with qualifying for a loan, but I can tell you this:

If you have entered into a program, beware of Debt Negotiation programs ... more
0 votes Share Flag Fri Oct 5, 2007 Home Buying in Berwyn, IL
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