This entry was posted on Thursday, December 18th, 2008 at 1:12 am and is filed under Real Estate . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Whether you’re looking for a condo, a new house, or unspoiled property on which to build your dream home, Chicago is a great location. Chicago real estate is a thriving industry, and Chicago is a place with all the amenities of a grand American city.
Recent bad publicity about mortgage problems has made many people reluctant to enter the real estate market. Real estate agents in Chicago point out, however, that this is actually great news for buyers. Incredible bargains are available to those who can qualify for a mortgage. This is especially true when purchasing one of the many foreclosed properties on the market today.
For others, since people are somewhat spooked, the concessions sellers will make to close a contract are more and more attractive for buyers. Houses that have been on the market for awhile can often be purchased for well under the listed price, or other perks can be offered.
Real estate agents in Chicago are just like all other realtors. They derive their commissions from sale price of the property. You would think it is logical that they would want the highest selling price, but in this sluggish market, they are also happy to receive a smaller commission for a sale that is finished rather than getting no commission from a rigidly-priced sale.
With this information you are in the catbird seat as a Chicago buyer. Your agent, and the property owner, are going to willingly do many things beyond the expected to close a sale with you. You might be able to cover closing costs, add warranties, and get other added things that you normally wouldn’t receive.
It is critical to use a real estate agent for anyone that is new to the area. They will know much more about the area from property taxes, to schools, to various other issues that you would spend a long time figuring out on your own. They also have an education in the field that gives them qualification to handle all aspects of the real estate transaction, as well as a code of ethics that protects you. Why run the risk of scanning want ads and talking with unknown sellers when you can utilize the great resource of Chicago real estate agents?
Whether you’re looking for a condo, a new house, or unspoiled property on which to build, Chicago is a great location. As with realtors in any area, real estate agents in Chicago gain their income through commission that is a percentage of the sale price. They are motivated to make a sale of the highest price possible, but if the market is slow, they will probably settle for a smaller commission. With that knowledge, you are in the catbird seat. Chicago real estate agents have all the information you want on amenities, taxes, schools, and other information you need as a newcomer to the city.
- Mark Shellby
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