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What’s on your mind?

Stop sitting on the sidelines and get in on the discussion. If you have need assistance, don’t be shy. Just ask. The following are questions that we have received often, so we thought we would post the answers to them. Here’s are answers from both the Agent’s (A) and Broker’s (B) point of view.

Seller: When is the best time to sell my home?

A – When you’re ready, and at that time position your home according to the area comparables and the current economic conditions.

B – Some may say Spring time, keep in mind more competition as was, but people are looking to make a change during summer school break. You will still have to thoroughly analyze the area comparables and still consider all economic factors!

Seller: What is my home worth?

A – It’s worth whatever a buyer is willing to pay and you are willing to accept in today’s market based on the area comparables and the economic conditions.

B – But my neighbor had to sell their house. They were getting divorced or maybe a family member passed away, so they just dumped it. Doesn’t matter, the next lender will look at the area comparables when giving the loan to the next buyer. The lender doesn’t care who divorced whom, nor do they care if someone has passed away and the family estate had to sell the house.

Seller: How long will it take to get the price I want?

A – It all depends on how much you want. If the area comparables clearly show your home is worth $250,000 and you want $350,000 you will have to wait until the year 2018 or later probably.

B – It isn’t always about the price you want, it’s what the market will bring. Be smart when pricing your home, be competitive. It’s important that you do not over price it.

Buyer: Should I buy or rent?

A – Sometimes it’s simpler to rent, you don’t have the responsibilities’ to the property like the landlord.

B – The flip side to that though is you are also providing profit to a landlord and not building financial equity in yourself and your future. Along with some small tax benefits and never having to worry about rental terms and conditions. “It’s yours.”

Buyer: I’m a first time buyer, what should I do first? Or what are the steps involved?

A – Always the first step is to speak with a reputable lender to see what your comfort zone is as far as a monthly mortgage payment. Second, get “Connected to the MLS” engage the service of a Realtor to supply you with homes that meet your comfort zone and requirements in your desired area. Next, go out have fun, view some homes, then buy.

Buyer: Do I need an attorney?

A – Yes, in Illinois we are an Attorney State. This means attorneys handle the title and the closing documents for a buyer and seller to conclude on a transaction. The average cost is about $550.

Buyer: Do I need an inpection?

A – It is always recommended that you have a property inspected by a Licensed Illinois Inspector. The average cost is somewhere between $350 to $500.

Still need more? Send us a message.