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.

This post was written by Leslie Ebersole of Baird & Warner Real Estate.
Use or reproduction of the material published on this site is expressly prohibited
without the express written permission of the author.

 

FOX VALLEY LIVING

 

My Email leslie.ebersole@bairdwarner.com

My Mobile (630)945-7935

 

15 Comments on Buying a Home? Questions to Ask

NOV
27
2011
292,425 Points 20 Featured Posts Outside Blog Called Shot Master

Leslie,

Educating your buyers by discussing these issues will result in a successful transaction and a happy client.
3:40pm • #1
653,717 Points 49 Featured Posts Localism Sponsor Outside Blog Called Shot Master

And this is why buyers need real estate agents to buy a house! Very excellent post Leslie!
3:59pm • #2
413,687 Points 88 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Jackie: chuckle ;-)

Lloyd: best to have these conversations in the beginning!
4:24pm • #3
464,055 Points 1 Featured Post

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
6:41pm • #4
186,426 Points Localism Sponsor Outside Blog Attended Rain Camp

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.
Bruce

 
7:46pm • #5
227,473 Points 17 Featured Posts Outside Blog

Great list -- I think some buyers & agents don't realize the importance of this type of research.
9:10pm • #6
865,945 Points 18 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

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.
9:37pm • #7
761,765 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

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.
10:14pm • #8
1,142,706 Points 242 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

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!
11:17pm • #9
265,157 Points 3 Featured Posts Outside Blog Attended Rain Camp

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.       

11:31pm • #10
877,330 Points 48 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

It is clear to me that anyone buying in Chicago's Western Suburbs needs to contact Leslie Ebersole!!
11:51pm • #11
NOV
28
2011
520,370 Points 25 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Leslie,

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. 

 
12:01am • #12
152,533 Points

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

Good post, thanks for sharing it.
12:58am • #13
652,304 Points 70 Featured Posts Outside Blog Called Shot Master

Great list Leslie.  Buyers need to be armed and educated when writing an offer.  Who better to do that then their agent?  :)
8:36am • #14
NOV
29
2011
2 Featured Posts Called Shot Master

Leslie,

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

10:43am • #15


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