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Home Selling in 60653 : Real Estate Advice

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  • Local Info1
  • Home Buying20
  • Home Selling2
  • Market Conditions0

Activity 347
Sun Apr 22, 2012
Juan Espinosa answered:
I would recommend you call the attorney who did your short sale, ask him. If he says you had that coming than you are good to deposit, cash. Good luck.
0 votes 3 answers Share Flag
Sun Mar 11, 2012
Scott Godzyk answered:
Myrna first thing are desigantions are no substitute for experience in listing and selling REO homes. It is late to be getting into the REO field as listings start to decline. Banks are actually limiting agents and reducing their numbers as they cast aside agents who are not servicing their listings and giving them to the agents who are doing a good job. The best way to get REO listings is by completing BPO's and doing a good job at it. ... more
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Fri Mar 9, 2012
Bill J Deligiannis answered:
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Wed Jun 13, 2012
Joseph Hedrick answered:
You should consider getting rid of "stuff". Put it in the garage, rent a storage, store at your relatives place. Consider the placement of furniture to have a good tour path. It would be good to have a different set of eyes, a Realtor, look it over when you are ready. Small touchups are a given. Painting rooms doesn't add because buyers will wonder what you are covering up and their colors are different. ... more
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Mon Feb 27, 2012
jeff donnellan answered:
I would be happy to discuss all your options. You may have other options like renting or a modification. Give me a call or email me. 773-828-8151
0 votes 7 answers Share Flag
Tue Mar 20, 2012
Joe Schiller answered:
you dod not knoe enough about the business to determine if you can short sell- I do. please contact me via email
0 votes 11 answers Share Flag
Mon Feb 27, 2012
Terry Farnsworth answered:
Hi Dominic,

I've done many HomePath transactions - and I've found them (thus far) to be a great option for buyers. There is also no appraisal - unlike FHA - which tends to make things go a lot smoother.

Some of the other features include:

- No mortgage insurance
- Low down payments for purchasers
- Often, Fannie Mae will repaint/recarpet/repair the home, so many the properties are move in ready

I've even had them fix a few things with certain properties, even those they are all sold AS-IS. Generally, owner-occupants get "first crack" as these........often, there is a 15 day "First Look" period solely for buyers who plan to occupy the home as their primary residence. After that, investors are welcome to bid on the properties. There are quite a few mortgage brokers that offer this financing - and some of the bigger banks are starting to get in on this as well (I believe PNC is one of the only ones currently). Hope that helps!
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0 votes 9 answers Share Flag
Mon Feb 6, 2012
Bill J Deligiannis answered:
For most lower priced homes at most they will clear the home of any debris and then lower the price over time until it sells. These present good deals for cash buyers. For medium to higher level homes, they may spend $x if it allows them to obtain $x + $y returns, or if it allows the home to qualify for financing. ... more
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Thu Dec 28, 2017
Dan Tabit answered:
0 would the lowest number, but I doubt any agent would accept it. You may have the cart before the horse. There will always be some agents willing to work for less than someone else, the question is always are they any good. Not all low fee agents are bad and not all high fee agents are good, but by focusing on the fees you will probably exclude some of the best agents who may not advertise or solicit business by advertising a low fee.
My suggestion is, and has been to find the best available agent to represent you first and focus on the fee later. If the best agent will also charge less than someone else, good for you. A good agent is worth more than their commission, but a bad agent will cost you way more than just a commission. Focus on quality and the any price will seem like a bargain.
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0 votes 25 answers Share Flag
Fri Feb 3, 2012
Philip Sencer answered:
Sure, if you can find one. The lien holder does not care what happens after the sale. The big issue on short sales is whether or not the lien holder will come after you for the deficiency amount. They NEVER will answer that question until after the closing. ... more
0 votes 7 answers Share Flag
Tue Jan 31, 2012
Tom Kelley answered:
I am not an attorney,however, typically in a short sale, unlike a foreclosure, the lease transfers to the new owner of the property. All the terms of the lease remain. As far as the tenant goes, their leasehold rights remain the same. ... more
0 votes 8 answers Share Flag
Thu Jun 11, 2015
My NC Homes Team answered:
No, it's whatever the market will bear. In a buyers market they tend to be low, in a sellers market they tend to be higher. If you have no better offers on the table then my adivce is to try and make this one work.

The $1000 isn't meant to be compensation, if the deal fall through, it's simply to show that the buyer is serious and has some skin in the game.

I wish you all the best.
... more
0 votes 15 answers Share Flag
Sat Jan 7, 2012
Philip Sencer answered:
Yes, there are frame 2-3 flats that were converted to condos back in the bubble years. As you might expect they would not sell as well as brick. One issue tends to be that the bedrooms are on the smaller size and closets are poor. They usually were designed as just rentals and lots of folks who want to 'own' are not willing to deal with the small size even if their furniture did fit......which it rarely does.
I am not sure this is the right market to be doing a conversion. Buyers are very particuilar and have lots of choices.
... more
0 votes 10 answers Share Flag
Wed Apr 9, 2014
Deborah Smith answered:
Contact a realtor to run for you comparables in your area and give you also the time frame in which the comparables sold, this will give you a picture of what is going on with condos in your area. This is free of charge service and is the best bet in making your choice of listing your property at this time. Debbie Bergthold-Smith Classic Real Estate ... more
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Wed Dec 21, 2011
Anna M Brocco answered:
You can begin by contacting the agent's broker owner, and or office manager; you can contact the local Board of Realty; you can contact the State's Divison of Real Estate Licensing. ... more
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Fri Jan 27, 2012
Joseph Inman answered:
Hi Mike,
I'm not sure of your situation but the first place to start once you have talked to the REALTOR and have gotten no recourse from them, would be to contact his/her managing Broker at his Real Estate office. Once you have talked to them and have not gotten sufficient recourse, would be to contact his/her local MLS board and lodge a formal complaint. The MLS board will look into the allegations and start proceedings to look into the allegations. The local MLS board will guide you through the process and work on an acceptable outcome for you. With that being said I just want to let you know that there are plenty of REALTOR's out there who do a fantastic job so I don't want to sour you on working with another REALTOR in the future. I hope that you get the help you are looking for. Thanks ... more
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Mon Apr 16, 2012
Ron Thomas answered:
I believe you are giving too much credit for us in CONTROLLING our Clients:
This isn't 1965, we have a new breed, they are a lot more savy than they used to be.
Either Chicago is quite different, or you aren't getting the whole picture. ... more
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Sun Dec 4, 2011
Ron Thomas answered:
We have a process, on our computer, to point out errors and ommissions on Listings to the MLS:
I have seen a lot over the years; very few are malicious. Usually it is just oversight.

Good luck and may God bless
... more
0 votes 8 answers Share Flag
Tue Mar 25, 2014
Philip Sencer answered:
If you live in Florida, but can arrange showings and market the property then perhaps that can work. It depends on the market in your area/price point/supply-demand etc. This is a difficult market to sell as I assume you understand even in 60618.
My web site has various Listing types including a Flat Fee that might be of interest.
... more
0 votes 19 answers Share Flag
Thu Nov 10, 2011
Maria Morton answered:
The condo HOA or board will have to be involved. First, check with the president of your condo's HOA to find out if they are on the list. If they are not, ask them if they would be willing to work with you on getting the building approved. Ask your real estate agent to help you. ... more
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