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Home Selling in Cook County : Real Estate Advice

  • All32
  • Local Info2
  • Home Buying13
  • Home Selling5
  • Market Conditions0

Activity 523
Tue Nov 4, 2014
Oggi Kashi answered:
It means the listing is currently active but in contract with a buyer.
0 votes 21 answers Share Flag
Wed Jul 1, 2015
Steve Stenger answered:
It depends on where they live full time and where its located. If its in the Chicago suburbs it might not be considered a 2nd home. Then the unit will always be considered an investor unit when there is a lease on it.


Steve Stenger
President
Condo Approval Professionals LLC
(847) 293-2962
... more
0 votes 7 answers Share Flag
Mon Aug 22, 2011
Anna M Brocco answered:
What is your agent advising--review your contract, as the answer for backing out can be found in the document, or consult with your attorney.
0 votes 9 answers Share Flag
Wed Aug 10, 2011
Philip Sencer answered:
Not sure what a list of cash sales(vs financed sales) in the entire Chicago area will do for you,but it can be done. Is there ary other criteria that matters?
0 votes 4 answers Share Flag
Tue Jan 29, 2013
Philip Sencer answered:
Chances are that if you bought 2 years ago you will lose money because prices at best are flat and mostly down everywhere in the past 2-4 years. You should have a couple of agents do a market analysis to see just what it looks like, but if you can rent then you are luckier than most and it might be a good option if you need to move.
If you look at the closing statement you received when you bought you will see what the costs are to sell, but it is mostly based on the price.
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0 votes 14 answers Share Flag
Wed Feb 20, 2013
Andrea Geller answered:
Chicago is a year round market so if you are not listed you have no opportunity to capture they buyers out there on any given day. Market conditions always factor into a sellers decision to list. Based on current market conditions it is better to list now than wait to get highest and best price. ... more
0 votes 3 answers Share Flag
Fri Jan 6, 2012
Angela Walker answered:
Good Morning Lesli, The best way to choose an agent is to interview your agent. I would love to schedule an appointment and discuss your needs.
0 votes 9 answers Share Flag
Thu Jul 14, 2011
Ranj Mohip answered:
Yes. The landlord/old owner will have to turn over unused rent and the security deposit plus interest to the new owner. Unused rent would be this: July rent was paid and you are closing on July 15. Rent from July 1-15 belongs to the landlord/old owner and the remainder goes to the new owner. Your attorney should take care of this and your lender should know about it so there are no surprises at the closing.

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.ranjmohip.com for more information.
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0 votes 1 answer Share Flag
Mon Apr 15, 2013
Dan Tabit answered:
Wilmettegal,
There are no typical amounts. The agent can request an amount which you can agree to or negotiate. Who pays is between you, the agent and the buyer. Generally, I like to get this issue resolved up front as soon as possible. The commission can be paid by either or both parties and who finds the home first really isn't a factor.
Here are some options. You can pay the agreed commission and just consider it a discount. You can increase your price by the agreed upon commission amount in order to pay it. The buyer can pay all or a portion and you pay a portion. Where an agent is involved, take advantage of their knowledge, resources and experience and realize there are lots of sellers out there hoping for a buyer. Be glad you have one.
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0 votes 15 answers Share Flag
Thu Jun 30, 2011
Mark Malave answered:
It really depends on many factors. If you want email me the property and I can do a cma abd see if you are getting it below market.
0 votes 17 answers Share Flag
Thu Jun 9, 2011
Phil Rotondo answered:
Sat Oct 27, 2012
Eve Tarm answered:
I work at the award-winning Coldwell Banker office in Glencoe. I would love to help you get your home sold. I have the tools and the team to take excellent care of you. Please feel free to check out my website www.EveTarm.com. Also, please let me know if you would like references. Here's my email address: eve.tarm@gmail.com ... more
0 votes 7 answers Share Flag
Thu Feb 16, 2012
Kelvi Cunningham answered:
I have actually never heard of this company or the 6 year lease guarantee program before, so thanks for bringing it to my attention. I checked out the website http://www.marketplacehomes.com/ and I'm doing some more research. I'll be interested to see other professionals review of this company. Great question! Thanks for inquiring. It seems like a neat deal, but maybe too good to be true. I need to learn more. ... more
0 votes 2 answers Share Flag
Thu May 5, 2011
Eli Givoni-Short Sale Dept LLC answered:
If the bank told you already that they will take $205K, then that is the price they want. There is no rule of thumb for what the bank will take. You need to listen to their specific requests. We are a professional short sale service and would be happy to explain the process to you. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
www.shortsaledepartment.com
Serving all 50 states

MARS Disclosure for General Commercial Communications
IMPORTANT NOTICE:
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
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0 votes 3 answers Share Flag
Thu Jan 17, 2013
Tim Moore answered:
Every market area is going to be somewhat different, but Spring is the most popular time in most places. Fall is next.
0 votes 30 answers Share Flag
Wed Apr 20, 2011
Phil Rotondo answered:
Then it's not going to close until other arrangements can be made.
This should have been known prior to closing..... if the property was listed, the seller should have received an estimate of net proceeds from the agent and the owners should have received a copy of the HUD-1 prior to the closing date. ... more
0 votes 8 answers Share Flag
Fri Apr 15, 2011
Suzanne MacDowell answered:
The goal of the negotiation is to have the bank forgive the debt and allow you to walk away free and clear of the mortgage. However, depending on your financial situation the bank may ask that you contribute to the loss, for example, by signing a promissory note. These are often for a small amount, and extend over a long period of time at little or no interest. You have the option of refusing to sign the note and let the bank foreclose. I am not sure whether Illinois is a 'recourse' state or not, if not then they cannot come after you for the balance. If so, the bank can try to get what is called a 'deficiency judgment'. Even if they do get one, however, all is not lost. You can also consider filing for bankruptcy and try to discharge the deficiency judgment in bankruptcy court.

What you need to do is talk to a lawyer who is familiar with short sales, foreclosure law in Illinois, and bankruptcy law. There are options, not always good options, but options and they should all be explored to learn which is the best option for you.
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0 votes 6 answers Share Flag
Sun Nov 27, 2011
Jeanne Feenick answered:
Coordinating two closings can be tricky. Also, your condo sale will set you up for a contingent offer on the buy side which will lessen your leverage. My advice is to focus on your condo sale - get it listed pronto so you capitalize on the Spring Market. Once you get traction on that end, start looking. If you are in the position to rent on a short term basis, that would be ideal so that you can buy as a non-contingent buyer.

Your goal - become a buyer - once you are there, ah, a great market awaits! Good luck to you. Be smart with your pricing and aggressive with your marketing!

Best,
Jeanne Feenick
Unwavering Commitment to Service
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0 votes 9 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 0 Answers Share Flag
Tue Oct 1, 2013
Peter Kedzior answered:
You can get a free estimate on-line which can only be used as a very rough assessment of your home's value. If you need something more reliable (and actionable), you should contact your local Realtor to prepare a CMA (Comparative Market Analysis). Most Realtors don't charge for that service. ... more
0 votes 6 answers Share Flag
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