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.

Posted by

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

close

Re-Bloggged 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
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the robot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

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

Comments 15 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the eye to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
338,026
Lloyd Binen
Silicon Valley R since 1976;408-565-8177
Certified Realty Services

Leslie,

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

November 27, 2011 03:40 PM
Rainmaker
714,035
Jackie Connelly-Fornuff
Century 21 AA Lindenhurst NY
Long Island NY Real Estate Agent

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

November 27, 2011 03:59 PM
Rainmaker
420,591
Leslie Ebersole
REALTOR - Chicagonulls Western Suburbs
Baird&Warner Fox Valley

Jackie: chuckle ;-)

Lloyd: best to have these conversations in the beginning!

November 27, 2011 04:24 PM
Rainmaker
505,995
Patricia Aulson
Realtor - Portsmouth NH Homes-Hampton NH Homes
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate

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

November 27, 2011 06:41 PM
Rainmaker
246,417
Bruce Kunz
REALTOR®, Howell NJ Homes for Sale
Bruce Kunz @ Veltri & Associates, 866-483-5874 x464

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

 

November 27, 2011 07:46 PM
Rainer
274,067
Leanne Paynter • Broward County Real Estate
United Realty Group, Inc.

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

November 27, 2011 09:10 PM
Rainmaker
1,032,747
Joan Whitebook
Consumer Focused Real Estate Services
BHG The Masiello Group

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.

November 27, 2011 09:37 PM
Rainmaker
881,234
Jane Peters
Connecting you to the L.A. real estate scene
Power Brokers Int'l

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.

November 27, 2011 10:14 PM
Ambassador
1,257,371
Debe Maxwell
Charlotte Homes for Sale - Charlotte Neighborhoods
www.AtHomesCharlotte.com | Savvy + Company Real Estate

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!

November 27, 2011 11:17 PM
Rainmaker
331,338
John Juarez
CDPE, ePRO, SRES, GRI, PMN
Prudential California Realty

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.       

November 27, 2011 11:31 PM
Ambassador
1,088,783
Joni Staples
Your Huntsville / Lake Livingston Area REALTOR®
Berkshire Hathaway Home Services - Anderson Properties

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

November 27, 2011 11:51 PM
Ambassador
541,463
Larry Story
Total Care Realty, LLC, Greensboro, NC Real Estate
Total Care Realty

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. 

 

November 28, 2011 12:01 AM
Rainer
157,536
Anthony Daniels
SF Bay Area REO Specialist
Coldwell Banker

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

Good post, thanks for sharing it.

November 28, 2011 12:58 AM
Ambassador
923,361
Amanda and Jared Christiansen, YOUR Fort Wayne Realtors
Century 21 Bradley.
Century 21 Bradley (260)704-0843

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

November 28, 2011 08:36 AM
Rainer
43,085
Valerie Duncan Stewart
Real Estate Agent-Broker, OKC, OK
(Metro First Realty)

Leslie,

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

November 29, 2011 10:43 AM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the eye to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
420,591

Leslie Ebersole

REALTOR - Chicagonulls Western Suburbs
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the lock to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information