Buying a home can be a long and rewarding adventure. However, it can be heartbreaking when a home buyer finds what they think is their ideal home only to discover it’s rife with issues. As a result, a home buyer may unsuspectingly buy a home that becomes a money pit. ...
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Residential Real Estate
3 things to do that may smooth the home buying process for you
Sometimes, trying to buy a home can take you down a rough and rocky road. It is not uncommon for buyers to encounter legal or financial obstacles that could delay or halt the purchase. Studying the laws governing Illinois residential real estate transactions can give...
How will the NAR verdict affect real estate prices?
In a typical real estate transaction, the seller does not directly pay the buyer's agent. Instead, the buyer's agent's commission is usually covered by the seller as part of the total commission, which is typically specified in the listing agreement between the seller...
Why do people sometimes remove contingency clauses?
Contingency clauses are common in real estate transactions. One of the most frequently used clauses is that of a home inspection contingency. This means that the condition has to be met in order for the offer to stand. The potential buyer is saying that they will...
3 professionals who should look at a property before closing
Those buying real property often think that the process will be faster than it actually is. They may also experience sticker shock when they look at their settlement statement and see all of the costs that they have to cover. There are many expenses that pass to the...
Why do home buyers need to pay for 2 title insurance policies?
Those buying a home need to look over the closing documents carefully before their scheduled appointment to sign these documents. The settlement statement that explains all of the costs related to the transaction is one of the documents that people should review most...
Where are home prices headed?
It is unquestionably difficult to make a sound determination about whether to sell or purchase a home at any given point in time when it is particularly unclear what the market will do next. When the residential real estate market is relatively stable, it’s not too...
Understanding real estate contracts
Maybe this is your first time purchasing a home, or your first home purchase in decades. Either way, attempting to go through a real estate contract can be intimidating. However, knowing the essential components will help you better understand what you're reading....
Understand HOAs and how they impact homeownership
If you're purchasing a home, you might encounter properties that are part of a homeowner’s association (HOA). The HOA can significantly impact your living experience and responsibilities as a homeowner. It is essential to understand what buying a home under an HOA...
What home buyers should know about earnest money
The housing market in this area certainly has its ups and downs, but when you find a home that’s right for you and your offer is accepted, you don’t want to risk losing it. However, a lot can happen between the signing of the purchase agreement and closing on the...