Home buyer frequently asked questions in Illinois

Bowers Realty Group can recommend several lenders who we have successfully worked with over the years. The lender will expedite all of the necessary paperwork and information, including ordering a credit report and appraisal of the property, if required. All Bowers Realty Group recommended mortgage professionals provide free mortgage preapprovals with no strings attached. Even after receiving a preapproval from one of our recommended mortgage professionals, you are free to choose any mortgage provider you wish.

Bring a notebook and pen for note taking. Don’t forget to take notes for later reference when you are looking at homes. After a while, all homes might start to blend together and you will lose track of what you like about each home or you will start to confuse aspects between different homes we have seen. Jot down key features of the houses we view. This will make it easier to remember the specifics about each home.
If you need to go back to a home for another look, just let us know, and we will happily schedule an appointment. Finally, in today’s market homes are moving quickly. When you find the home you want, you need to make your offer quickly. You should bring your checkbook so you can make an offer if we find a home you like.

The house you ultimately choose to call home will play a major role in your life. While it is true that a home can be an excellent investment, it must also fit the way you live. Your chief concern should be those things that you cannot change: location, floor plan, # of baths, lot size, etc. Then, consider those things that you can change – appliances, carpet, paint, cabinets, etc. – and whether or not you are willing to change them.

Sellers will supply you with a Seller’s Disclosure for the home, which will disclose any defects known by the seller. But, be sure to ask any questions you have about the home, even if you feel you are being nosy. You have a right to know. Ask any questions you have. Bowers Realty Group realtors will assist you in finding the answers to all of your questions and/or concerns.

We will be viewing homes that match the preferences you gave during the buyer consultation. As long as your preferences don’t change, you will most likely have only seen an average of 6-8 homes before finding the one you want.

Ask us any questions you have about local schools. We stay as informed as possible about all of the local schools and can tell you where to find answers to any detailed questions you may have.

Home sales are a matter of public record. You can call the Recorder’s office, a local residential appraiser, or the public information department of the local Multiple Listing Service for information on recent sales history, average sales price, time on the market, and other listing information for sales in a given area. However, a better and easier way to get this information is to ask Bowers Realty Group. If you are interested in a particular home, we may be able to provide you with a list of comparables - sale prices of homes in the area that are roughly the same size and age as the home you are considering. This is a good way to evaluate the seller’s asking price. Additionally, Bowers Realty Group offers search pages for every neighborhood and subdivision in Northern Illinois.

Once you have examined the home’s features and reviewed the comparable properties our real estate agents have provided, you will have an excellent idea of what the home’s value is in the current market. Our home buyer realtors provide the best comparable home samples to you. We don’t present you with all the properties that have sold or are on the market, like most real estate agents. Our expert realtors only provide you with real estate statistics that are actually comparable. If you are looking at traditional home sales, we offer traditional comparables, if you are buying a short sale, we provide short sale comparable statistics, if your are purchasing a foreclosure, we provide foreclosure data; after all, unlike most real estate brokers, we only use this data to negotiate your home purchase. Bowers Realty Group realtors do this to ensure you receive the best deal when buying a home.

All that said, consider your financial situation, and make an offer that you consider to be fair. Your offer will include the amount you are willing to pay, financing terms, any personal property you wish to have included, loan commitment date, closing date, and other contingencies including inspections.  Remember that the lower your offer is, the less likely the seller will be to accept, so avoid ‘low-balling’ if you really want the house. Additionally, the sooner you can close on a property, the stronger your offer will be with the home seller.

It is not required, but it is very much to your advantage. You will be able to better understand the inspection report, and know exactly which areas need attention. Plus, you will have a chance to get answers to many of your questions, and receive a lot of general information that will help you when you move into your new home.