Buying a Home? Questions to Ask

By
Real Estate Agent with Baird&Warner Fox Valley

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.

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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

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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
Topic:
Home Buying
Location:
Illinois Kane County Geneva
Groups:
Posts to Localism
Chicagoland and Northern Illinois Real Estate
Tags:
geneva il homes for sale
geneva il real estate agent

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Rainmaker
342,776
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley R since 1976;408-565-8177

Leslie,

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

Nov 27, 2011 03:40 PM #1
Rainmaker
746,406
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
Rainmaker
420,999
Leslie Ebersole
Baird&Warner Fox Valley - Saint Charles, IL
BRIX Group

Jackie: chuckle ;-)

Lloyd: best to have these conversations in the beginning!

Nov 27, 2011 04:24 PM #3
Rainmaker
521,499
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
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
Rainmaker
263,080
Bruce Kunz
Bruce Kunz @ Veltri & Associates, 866-483-5874 x464 - 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.
Bruce

 

Nov 27, 2011 07:46 PM #5
Rainer
293,469
Leanne Paynter • Greater Fort Lauderdale • Plantation, Davie, Cooper City
United Realty Group, Inc. - Davie, FL

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

Nov 27, 2011 09:10 PM #6
Rainmaker
1,121,895
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
Rainmaker
920,239
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

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
Ambassador
1,274,347
Debe Maxwell
www.AtHomesCharlotte.com | 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
Rainmaker
348,339
John Juarez
The Medford Real Estate Team - Fremont, CA
CDPE, ePRO, SRES, GRI, PMN

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
Ambassador
1,132,350
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
Ambassador
542,123
Larry Story
Total Care Realty - Greensboro, NC
Total Care Realty, LLC, Greensboro, NC Real Estate

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. 

 

Nov 28, 2011 12:01 AM #12
Rainer
157,688
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
Ambassador
1,021,353
Amanda and Jared Christiansen, YOUR Fort Wayne Realtors
Century 21 Bradley (260)704-0843 - Fort Wayne, IN
Century 21 Bradley.

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
Rainer
43,085
Valerie Duncan Stewart
(Metro First Realty) - Oklahoma City, OK
Real Estate Agent-Broker, OKC, OK

Leslie,

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

Nov 29, 2011 10:43 AM #15
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Rainmaker
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Leslie Ebersole

BRIX Group
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