May 22, 2017 | Home & Real Estate
If you're on the hunt for a dream home this summer, listen up! Chicago's top real estate brokers gave us some of their best pointers on finding and locking down that property you just can't live without.
“Study the comparable sales with your real estate professional. If you see that the sellers have priced their home correctly and in line with recent sales of similar properties, don't start with a low price. It will only alienate the seller and help to sell it to someone who makes a good and fair offer. Try to put yourself in the other person’s shoes. And don't say ‘final offer.’ The seller will believe you and take another offer. It is then too late to say, ‘But I would have come higher!’”
“Since it's no secret that the current market is short on inventory, buyers need to do a couple of things to best prepare themselves for the process. First, engage an experienced broker who is well-versed in the specific neighborhood you are looking in. Discuss all your wants and needs with your broker so they can prioritize a list and find properties that best suit your criteria. Overall, the more prepared and better researched a buyer is in the market, the quicker they are able to act, which can avoid bidding wars and multiple offer situations.”
“Know what you're looking for and jump on it as soon as you find it. The Chicago market is competitive—our city has seen record low inventory for the past few years, which means there are more buyers than sellers out there. Time is of the essence. As soon as you find a place you love, make a strong offer ASAP. Don't wait for other buyers to enter the scene.”
“Make a list of the top 10 features you want in a home. Then get a pre-approved mortgage. Look at the walk score of the neighborhoods you’re considering—you want to buy in a good school district that is close to public transportation, parks, and shopping! This will also help with resale values.”
