Ask A Realtor

Ask A Realtor provides an opportunity for clients and consumers to ask pertinent and relevant questions relating to the real estate transaction. Hopefully our agents will demonstrate their wealth and knowledge and competency that will give you a better understanding of the real estate transaction.
Julie Varones
Q


Is My Home Ready For Sale?

Is my home ready for sale?
Ryan, from Ukrainian Village

A

Does your home show well? Many sellers ask me, “What can I do to make my place sell fast?”

Here are a few tips: (Read More…)

Julie Varones

January 8, 2007 1:42 pm • In: Ask A Realtor
Christine Clark
Q


Who Transfers The Utility Accounts Into The New Buyers Name?

Who transfers the utility accounts into the new buyers name?
Jennifer, from Lincoln Park

A

After purchasing a property, but before moving in, the buyer should research the local utility companies and sign up for new service at the new location, or transfer old service to their new address. The seller will transfer the utilities at the property out of his name, so it should be easy for the buyer to have them put in his or her name before moving in. We provide a list of local utility companies and contact information to make the transition easier for new buyers.

Christine Clark

January 4, 2007 2:38 pm • In: Ask A Realtor
Geno Petro
Q


My Mom Is An Agent In The Suburbs But Doesn’t Know The City Well. How Do I Tell Her I Want To Use An Agent In The City?

My mom is an agent in the suburbs but doesn’t know the city well. How do I tell her I want to use an agent in the city?
Martha, from Schaumburg

A

Very tactfully! Actually, most suburban agents would rather refer business to a qualified city Realtor than navigate the unknown waters of neighborhoods and negotiation etiquette. And likewise with us to them. There are several referral fee schedules in place for such situations depending on the level of participation of all licensed parties.

Geno Petro

January 3, 2007 9:47 am • In: Ask A Realtor
Gus Vlangos
Q


Should I Buy A Home Warranty When I Purchase My Home?

Should I buy a home warranty when I purchase my home?
Bob, Wicker Park

A

Home warranties are a bit misleading in the way they make the home owner feel that “everything” is covered. It’s more like gap insurance and typically cover plumbing systems, appliances and the heating and cooling units. (Read More…)

Gus Vlangos

7:20 am • In: Ask A Realtor
Rebecca Siffel
Q


I Want To Know, Where Is The Safest Place To Live In Chicago?

I want to know, where is the safest place to live in Chicago?
Bob, from Carol Stream

A

Unfortunately, the laws that govern my profession do not allow me to address this question. A great resource for that kind of information is the City of Chicago Police Department website. They maintain the appropriate statistics to best answer such a question.

Rebecca Siffel

December 28, 2006 2:11 pm • In: Ask A Realtor
Ben Osbun
Q


What Is The Difference Between A Loft And A Soft Loft?

What is the difference between a loft and a soft loft?
Phil, from Logan Square

A

Lofts are typically thought of as converted industrial spaces, timber beams, exposed brick, open floor plans, and timber columns. The soft loft has been introduced by developers as a blend between traditional lofts and traditional home elements – the loft meets the condo. Soft lofts are still open floor plans with the exposed brick, but the ceilings don’t have the timber beams or the timber columns. They still achieve the open feel because the walls do not reach the ceiling.

Ben Osbun

December 27, 2006 10:15 am • In: Ask A Realtor
Ryan Wallenfang
Q


How Easy Is It To Buy A Foreclosed Property?

How Easy Is It To Buy A Foreclosed Property?
George, Gold Coast

A

Purchasing foreclosed property is a profession in and of itself. It requires an intimate knowledge of one’s local real-estate market, cash and specialized lines of credit, and an unwise willingness to gamble on the condition of a property. If you are a builder or investor willing to hold a poorly researched investment, than it may work for you. But you are up against pros in this business. So, buyers beware…

Ryan Wallenfang

December 20, 2006 1:53 pm • In: Ask A Realtor
Eric Rojas
Q


Do you need a professional inspector for your home purchase?

Do you need a professional inspector for your home purchase?
John, from Lakeview

A

“The short answer is… no. But, buyers beware of course! I always advise my clients to have a professional home inspection with a written report for their prospective real estate acquisition. The inspection may uncover simple issues or complicated problems that will factor in the negotiation.  Plus, inspectors are great tutors for first time buyers!”

Eric Rojas

December 19, 2006 3:08 pm • In: Ask A Realtor
Julie Varones
Q


What is earnest money?

What is earnest money?
Mary, from Lincoln Park

A

Earnest money is a deposit from the purchaser given at the time of the seller’s acceptance and held in an escrow account with the listing office or a title company. Often a buyer will place a $1000 check with the offer. The rest of the earnest money is due after the buyer and seller have signed the contract. Most buyers will put 5% of purchase price down. If the sale goes through the earnest money will be applied to the purchaser’s down payment.

Julie Varones

1:20 pm • In: Ask A Realtor
Rebecca Siffel
Q


What happens when the inspection turns up repairs needed to the property?

What happens when the inspection turns up repairs needed to the property? Who fixes them? Who pays for them?\
Sally, from the West Loop

A

So you’ve had your inspection and there are some problems. It happens. So now what? There are a couple ways to handle any issues. One, the seller makes the repairs before closing. Or two, the seller gives the buyer a mutually agreed upon credit at closing for the necessary repairs and the buyer makes the repairs. And three, a combination of one and two. While the seller pays for the repairs, how the repairs are completed largely depends on the participants in the transaction, and what needs to be done.

Rebecca Siffel

1:17 pm • In: Ask A Realtor
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