Seven Selling Myths – Myth #3 - 02/27/09 09:59 AM
Myth #3: Overpriced property can sell-if it's heavily advertised. Truth: There is huge power to the MLS and online advertising, but print advertising has diminished in importance, and advertising alone doesn't sell anything.
Properties priced over their fair market value will not attract as many buyers as they should, take longer to sell, make competing properties look good, become "shopworn," cause buyers to bring ‘low-ball' offers, cause sellers to lose valuable time buying their dream home, or even end up causing the home to sell below market value in order to make up for all of the above.
 
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Seven Selling Myths – Myth #2 - 02/26/09 03:50 PM
Myth #2: There are many ways of guides to an asking price. Truth: Similar, nearby, recent, closed sales are the only truthful guide to follow.
Your buyer won't accept:
a. What your Neighbor Saysb. What Another Agent Saysc. What you Spent On Upgradesd. What it Costs To Build Todaye. What you Spent on Repairsf. What you Spent on Remodelingg. What you Spent on New Carpeth. What you Paidi. What you Needj. What you Want
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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Seven Selling Myths – Myth #1 - 02/25/09 08:54 AM
Myth #1:  You should always price your home high and negotiate down. Truth: Starting out too high rarely is the best way for a seller to go.
If you list too high, you'll miss out on buyers looking in the price range where your home should be.  Offers may not even come, because they are scared off by the price.  By the time you correct the price and list your home at its fair market value, you will have lost that new listing window of opportunity when your home draws the most attention from the public and real estate agents.
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WHAT IS AN ESCROW ACCOUNT? - 02/22/09 01:19 PM
An escrow account is a neutral depository held by your lender for funds that will be used to pay expenses incurred by the property, such as taxes, assessments, property insurance, or mortgage insurance premiums which fall due in the future.  You will pay one-twelfth of the annual amount of these bills each month with your regular mortgage payment.  When the bills fall due, the lender pays them from the special account.  At closing, it may be necessary to pay enough into the account to cover these amounts for several months so that funds will be available to pay the bills as … (0 comments)

Home Inspection #4 of 5 - 02/14/09 12:27 PM
If you are purchasing a resale property, we highly recommend that you have a professional home inspector conduct a thorough inspection. 
The seller may be willing to negotiate completion of repairs or a credit for completion of repairs, or you may decide that the home will take too much work and money.  A professional inspection will help you make a clear-headed decision.  In addition to the overall inspection, you may wish to have separate tests conducted for termites or the presence of radon gas.
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Home Inspection #3 of 5 - 02/13/09 12:21 PM
If you are purchasing a resale property, we highly recommend that you have a professional home inspector conduct a thorough inspection. 
Your home cannot "pass or fail" an inspection, and your inspector will not tell you whether he/she thinks the home is worth the money you are offering.  The inspector's job is to make you aware of repairs that are recommended or necessary.
 
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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Home Inspection #2 of 5 - 02/12/09 10:05 AM
If you are purchasing a resale property, we highly recommend that you have a professional home inspector conduct a thorough inspection. 
The inspection is not designed to criticize every minor problem or defect in the home.  It is intended to report on major damage or serious problems that require repair.  Should serious problems be indicated, the inspector will recommend that a structural engineer or other professional inspect it as well.
 
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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Home Inspection #1 of 5 - 02/10/09 12:35 PM
If you are purchasing a resale property, we highly recommend that you have a professional home inspector conduct a thorough inspection.  The inspection will include the following:
 
Appliances Plumbing Electrical Air conditioning and heating Ventilation Roof and Attic Foundation General Structure  
Visit our website to read more about Chicago multi-family homes.  Click here if you are interested in selling or buying multi-units with two or more flats.
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Home Warranty Protection – RESALE HOME WARRANTIES - 02/09/09 11:37 AM
When you purchase a resale home, you can purchase warranties that will protect you against most ordinary flaws and breakdowns for at least the first year of occupancy.  The warranty may be offered by either the Seller, as part of the overall package, or by the agent.  Even with a warranty, you should have the home carefully inspected before you purchase it.
A home warranty program will give you peace of mind, knowing that the major covered components in your home will be repaired if necessary.  Ask me for more details about home warranty packages.
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Home Warranty Protection – NEW HOME WARRANTIES - 02/07/09 11:17 AM
When you purchase a newly built home, the builder usually offers some sort of full or limited warranty on things such as the quality of design, materials, and workmanship.  These warranties are usually for a period of one-year from the purchase of the home.
At closing, the builder will assign to you the manufacturer's warranties that were provided to the builder for materials, appliances, fixtures, etc.  For example, if your dishwasher were to become faulty within one year from the purchase of your newly built home, you would call the manufacturer of the dishwasher - not the builder.
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Making An Offer — #6 of 6 - 02/05/09 11:44 AM
What Happens Next:
In different parts of the country, attorneys, lenders, escrow companies and other persons who are independent of title companies perform some or all of these functions. 
4.  Title Insurance - There are two types of title insurance:
•§                     Coverage that protects the lender for the amount of the mortgage,
•§                     Coverage that protects the equity in the property.
Both you and your lender will want the security offered by title insurance.  Why? Title agents search public records to determine who has owned any piece of property, but these records may not reflect irregularities that are almost impossible to … (0 comments)

Making An Offer — #5 of 6 - 02/04/09 01:28 PM
What Happens Next:
In different parts of the country, attorneys, lenders, escrow companies and other persons who are independent of title companies perform some or all of these functions. 
3.  Settlement - An Escrow Officer oversees the closing of the transaction: seller signs the deed, you sign a new mortgage, the old loan is paid off and the new loan is established.  Seller, agents, attorneys, surveyors, Title Company, and other service providers for the parties are paid.  Title insurance policies will then be issued to you and your lender.
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