Buying a Home? Questions to Ask

Industry Observer with Swanepoel T3 Group

Questions to Ask When Buying a Home in Geneva, IL

Most people start their home search by looking online at dozens of  Geneva homes for sale. Future Geneva homeowners debate the merits of decks vs. patios, hardwood flooring vs. carpeting, and whether a finished basement is a "must" for their decision.

Since there are many perfectly nice homes for sale in Geneva, a home buyer should also make sure that a home is "buyable" before they fall in love. Here are just some of the tough questions you should ask before writing an offer for a home in Geneva IL.

1) Can the homeowner pay off the mortgage and the closing costs at the expected selling price?

2) If the home is a short sale:
- how many loans and liens are recorded against the property?
- are the property taxes paid, sold or delinquent?
- is the seller qualified for a hardship?
- has the agent and/or attorney prepared a short sale package?
- is the homeowner involved in any civil litigation like a divorce or business bankruptcy?

3) What have similar homes sold for in the past 3 months?

4) How long has the home been on the market?

5) How long has the home been on the market at it's current list price?

6) Have there been any previous offers? What happened?

7) What are the local ratios for sold to (last) list-price ratio and sold to (original) list-price?

8) Is the seller offering any special incentives to the buyer or to the buyer's agent?

9) What is the seller's timing?
- is the next home picked out?
- if the seller is buying a home, are they qualified for their next mortgage?
- will the seller take a lower price for a delayed closing?

10) Are there any special assessments, new taxes, or other unplanned payments the new homeowner will have to make in the near future?

I am an experienced and successful Geneva IL real estate agent. If you are thinking of buying a home inGeneva IL, please give me a call at (630)945-7935 and let's talk.


Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Dorie Dillard 11/27/2011 09:46 PM
  2. Richard Iarossi 11/27/2011 11:56 PM
Home Buying
Illinois Kane County Geneva
Posts to Localism
Chicagoland and Northern Illinois Real Estate
geneva il homes for sale
geneva il real estate agent

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Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley Realtor since 1976; 408-373-4411


Educating your buyers by discussing these issues will result in a successful transaction and a happy client.

Nov 27, 2011 03:40 PM #1
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

And this is why buyers need real estate agents to buy a house! Very excellent post Leslie!

Nov 27, 2011 03:59 PM #2
Leslie Ebersole
Swanepoel T3 Group - Saint Charles, IL
I help brokers build businesses they love.

Jackie: chuckle ;-)

Lloyd: best to have these conversations in the beginning!

Nov 27, 2011 04:24 PM #3
Patricia Aulson
Realtor - Portsmouth NH Homes-Hampton NH Homes

Thanks for getting this out to us today.  It is a good read.  I have bookmarked it for future reference.


Patricia Aulson/ Seacoast NH & ME  REALTOR

Nov 27, 2011 06:41 PM #4
Bruce Kunz
Bruce Kunz @ HG Real Estate, NJ, 732-475-6703 - Howell, NJ
REALTOR®, Howell NJ Homes for Sale

Nicely said, Leslie. The more we can know and share about a listing the (usually) smoother the road is to closing. Unfortunately, the "facts" aren't always easily obtained.


Nov 27, 2011 07:46 PM #5
S. Leanne Paynter ☼ Broward County, FL
United Realty Group, Inc. - Davie, FL
Davie, Plantation, Cooper City & Weston Specialist

Great list -- I think some buyers & agents don't realize the importance of this type of research.

Nov 27, 2011 09:10 PM #6
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

It is so important to take time to meet with buyers at the onset and really go through their objectives, the budget, the process and how best to achieve their goals.  It is worth taking time initially because it always results in time savings in the end.

Nov 27, 2011 09:37 PM #7
Jane Peters
Home Jane Realty - Los Angeles, CA
Connecting you to the L.A. real estate market

I think you've covered them all here, Leslie.  That's why anyone buying in Chicago's Western Burbs is best served by using Leslie Ebersole.

Nov 27, 2011 10:14 PM #8
Debe Maxwell | Savvy + Company Real Estate - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Excellent post, Leslie!  Your expertise is such a value to your clients and I'm sure that you have one happy lot of buyers in Chicago's Western Burbs!  Congratulations on the feature--well-deserved as always!

Nov 27, 2011 11:17 PM #9
John Juarez
The Medford Real Estate Team - Fremont, CA

Leslie, I have never seen a list like this before. My buyer clients make all of their buying decisions based on what they hear in the national media and what their friends and family tell them. LOL!

You can imagine how well that works out.       

Nov 27, 2011 11:31 PM #10
Joni Staples
Berkshire Hathaway Home Services - Anderson Properties - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

It is clear to me that anyone buying in Chicago's Western Suburbs needs to contact Leslie Ebersole!!

Nov 27, 2011 11:51 PM #11
Larry Story
Total Care Realty - Greensboro, NC
Total Care Realty, LLC, Greensboro, NC Real Estate


Great information for any buyer to arm themselves with when looking for a home.  Hopefully any buyer reading this will take heed and ask the right questions and more. 


Nov 28, 2011 12:01 AM #12
Anthony Daniels
Coldwell Banker - San Francisco, CA
SF Bay Area REO Specialist

Those are some very important questions to ask a prospective client, prior to investing any time.

Good post, thanks for sharing it.

Nov 28, 2011 12:58 AM #13
Amanda and Jared Christiansen
Century 21 Bradley (260)704-0843 - Fort Wayne, IN
Century 21 Bradley Realtors

Great list Leslie.  Buyers need to be armed and educated when writing an offer.  Who better to do that then their agent?  :)

Nov 28, 2011 08:36 AM #14
Valerie Duncan Stewart
(Metro First Realty) - Oklahoma City, OK
Real Estate Agent-Broker, OKC, OK


Questions to keep the transaction running smoothly without any surprises down the road.

Nov 29, 2011 10:43 AM #15
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