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Warrenville : Real Estate Advice

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  • Local Info3
  • Home Buying1
  • Home Selling1
  • Market Conditions1

Activity 5
Wed Jun 12, 2013
Geoff Ommen answered:
Mrs. S.

Before i get into rent options, have you talked with a mortgage broker to understand if can get financing for a 2nd home? That is the least costly way for you to get into a 2nd property. As to rent vs sell your current home, that would totally depend on your overall strategy.

Rent with option will require you to come up with a non-refundable down payment for 5-10% of the purchase price. I work with investors that fund these types of transactions and try to structure them as a win-win for everyone involved. We allow you to select the home that you like, purchase it, and then set you up with a lease option. If this is something you would like to know more about, feel free to reach out.

Geoff Ommen
Broker Baird & Warner
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Fri Oct 15, 2010
Josie Morrison asked:
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Fri Dec 19, 2008 answered:
If your working with a Realtor thy should be able to get you a copy.
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Sun Apr 22, 2012
Bob Brandt answered:
I would first call the township office and maybe the village hall, as many provide a cheap service like you want. Next I would see if someone she works at could pick her up and you could pay them some gas money. Otherwise the link to the Metra/Pace/RTA site is on the first page of my website. How about a getting her a moped, bicycle or a Harley? :-) ... more
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Fri Mar 25, 2011
Deborah Madey answered:
Hi Norm,

By all means, hire a buyers agent. I cannot speak to IL law, as I am neither an attny or broker in IL. I know of no state that would prohibit a licensee from representing themselves in a transaction. However, many companies have policies restricting or prohibiting a Realtor representing themselves. Our company has that policy. In every state of which I am aware, a licensee must disclose that status. I shall let an IL RE Pro confirm this to be so in IL. It seems the disclosure has been made.

The agent has a goal to sell for highest price and best terms. The agent has knowledge and resources beyond what you have to help guide the decisions he/she makes. While the agent may have high ethics and standards, you are still best serviced by having your own buyer agent. Your buyer agent will have one agenda, representing you and your best interests.

I assume, since the property is "Listed" that there is a compensation offer made for a buyers agent. In the event a licensee sells on their own, and the property is not "Listed" or there is no buyer agent co-op, it would still be worth it for you to hire your own agent, even if you pay the fee directly.

While it is possible to strike a good deal with this seller/real estate licesee, the fee paid to a buyer agent is worth the representation, if even for validation and peace of mind.
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