Dmitry Vikhter, REALTOR®, CIPS, AHWD, North Chicago Real Estate & North Suburbs Homes For Sale.

Before You Choose a Mortgage Lender, Read These Tips

noreply@blogger.com (Dmitry Vikhter) — Wed, 10 Apr 2024 15:43:00 +0000

Single family house.

Before You Choose a Mortgage Lender, Read These Tips

Someone out there wants to help save you time, stress, and money. Here’s how you find them.

Everyone in the market for a house has different wants — pre-war charm, a lush backyard, a welcoming front door in Pantone Ultra Violet, perhaps — but at the end of the day, they all share a need in common: money. Lots of it.

That’s where your mortgage lender comes in.

The right lender can save you time, anxiety, and loads of cash. And the right loan officer — the professional who represents the lender — can be a powerful ally when you close on a mortgage. As with any potentially life-altering partnership, it’s important to choose wisely.

Only You Know Which Lender Is Your Type

There are three types of mortgage lenders — retail banks, credit unions, and mortgage banks — as well as mortgage brokers, who compare loan products via a coterie of potential lenders to help you, the client, find the right one. Before you start narrowing down the candidates, you have to know what you’re looking for, and where to find it. Let’s talk about your options.

Retail Banks

What they are: These are your Chases and Banks of America, plus your local banks. They do their own underwriting (in a nutshell, investigating your finances), so retail banks, especially the smaller ones, can sometimes offer lower fees and less-stringent credit requirements. If you like to have your accounts all in one place, you may want to use your own bank or credit union.
Who you’ll work with: You’ll be assigned a loan officer, who will receive a commission or bonus for writing your loan.

Credit Unions

What they are: They’re not-for-profit and customer-owned, so they’re not beholden to shareholders like a bank. Because of that and their not-for-profit tax status, they typically offer more personal service and lower fees. The flip side is less convenience: They have fewer branches and ATMs.
And to apply for a loan, you must be a member of the credit union’s community, which could be faith-, employment-, interest-, or union-based, among other things. That said, it’s typically not difficult to become a member; the National Credit Union Administration’s Credit Union Locator is a tool for finding credit unions near you.
Who you’ll work with: As with a bank, you’ll be assigned a loan officer, who will receive a commission or bonus for writing your loan.

Mortgage Banks

What they are: These banks, such as AimLoan and PennyMac, only offer home loans. Many {{ start_tip 75 }}online lenders,{{ end_tip }} like Rocket Mortgage by Quicken Loans, operate as mortgage banks.
Who you’ll work with: A mortgage bank will assign you a loan officer, who will receive a commission or bonus from the lender’s gross fees for writing your loan. An online lender is going to offer less hand-holding.

Mortgage Brokers

What they are: Mortgage brokers are essentially personal home loan shoppers — they act as liaisons between home buyers and mortgage lenders to help people find the lowest rates and the best mortgage terms. They’re able to get home buyers the best mortgage rates because they leverage their existing relationships with lenders — something individual home buyers can’t do. By doing the heavy lifting for the borrower, the idea is that they make loan shopping more convenient — and perhaps a bit faster.
Who you’ll work with: A mortgage broker can be an individual agent or a group of agents, who act as independent contractors. In exchange for their services, mortgage brokers typically charge a 1% to 2% fee of the loan amount, which is either paid by the borrower or the lender at closing.
Now that you’re armed with the basics, you’ll want to give yourself time to weigh the options about which lender, exactly, to work with.

It Pays to Shop Around Before You Commit

Over the life of the loan, seemingly subtle differences could add up to tens of thousands of dollars. That money belongs to future you and all your dream vacations, renovations, and remodeling #goals.
So before you choose your specific lender ...

Thoroughly research any retail bank, credit union, mortgage bank, mortgage broker, or online option you’re considering. Make sure you’re clear on what they can offer you. About one in five (21%) home buyers said they regret their choice of mortgage lender, according to a recent J.D. Power survey. You’re doing your homework so that won’t be you. 
Interview lenders. You’re aiming for a shortlist of three. (You’ll see why it’s three in a minute.) If you’re thinking about selecting an online lender, make sure you take into account these tips and tricks. 
Don’t be shy about seeking advice. Survey your family, friends, and coworkers — especially the ones who are nerdy about money. 
Ask your real estate agent for a second opinion. They have experience with reputable lenders, particularly in your city or town.

Now, let’s say you’ve narrowed your list of potential lenders to at least three candidates. The next step? Finding out whether they will give you a loan.

You Should Seek Out a Lender’s (Pre-)Approval, Too

There’s a world of difference between being pre-qualified for a loan and being pre-approved. Pre-approval means you’ve got skin in the game. It means you’re a boss. And it’s proof that you can buy.
Besides being the grown-up thing to do, pre-approval puts you in a better position when you make an offer. Everyone takes you more seriously. Pre-approval provides evidence to your real estate agent and the seller (or seller’s agent) that a trusted financial institution is willing to finance the purchase.

In most housing markets, sellers are going to expect your to be pre-approved when you make your offer. And when you’re pre-approved, you’re more likely to have your offer accepted — or at least, you won’t lose out on a bid because you have to go back to the bank to get approved for a loan.

As for pre-qualification, it’s an approximation and not necessary unless you have no clue about your creditworthiness and just want a snapshot.

By contrast, with a pre-approval, a lender typically goes deeper and tells you more specifically how big a loan you can get. Caution here: Just because the lender says you can take out a loan for an amount, doesn't mean you should. Consider your lifestyle and monthly budget to decide on the responsible loan amount for you.
To get pre-approved, you must also authorize a lender to {{ start_tip 73 }}pull your credit.{{ end_tip }}

Borrowers with credit scores of 760 or higher can typically qualify for the lowest interest rates.  
Borrowers with credit scores below 650 may need to apply for a non-conventional mortgage, such as a Federal Housing Administration (FHA) loan — a government-backed loan that requires a minimum credit score of 580 but lets borrowers make as low as a 3.5% down payment.
Borrowers with credit scores below 580 can still qualify for FHA loans, but they’ll have to make at least a 10% down payment. The lower the score, the tighter the requirements become.

When you’re pre-approved, you’ll receive a Loan Estimate. This three-page document is about to be your new best friend.

It Makes Good Sense to Get Pre-Approved by at Least Three Lenders

A Loan Estimate spells out a future loan’s terms, including:

The interest rate 
The length of the loan 
Estimated costs of taxes and insurance  
How interest rates and payments might change over time  
Other important financials

By comparing loan estimates, you can effectively size up your loan options and decide which lender is best for you — and your future. (If you need help navigating the details, the Consumer Financial Protection Bureau offers a sample Loan Estimate with helpful tips and definitions.)
Getting pre-approval early in the process also gives you an edge over other buyers. Here’s why:

The amount you’re approved for can help you determine your price range, and thus save time and frustration when shopping.  
It sends a signal to your agent and sellers that you’re serious about buying a home. 
It’ll help you move quickly to make an offer when you see a home you like.

And it’s an excuse to celebrate! You now have everything you need to move ahead with that one special lender — and, at the same time, connect with an officer or broker who can help you select the home loan product that’s best for you.
So have a cocktail. Do a dance. Lay back and relax in one of those fancy sheet masks. You’re a (huge) step closer to getting a new house.

Niles Real Estate. Homes for Sale in Niles Illinois

noreply@blogger.com (Dmitry Vikhter) — Fri, 29 Dec 2023 21:52:00 +0000

Niles Real Estate. Homes for Sale in Niles Illinois.

Niles Homes, Condominiums and Town homes For Sale in Niles

Looking To Buy or Sell in Niles?

Whether you’re an owner looking to protect your investment or tenant or buyer looking for a new home, Buy Homes America, Inc. is the leading choice.

Request your FREE neighborhood reports for Niles Illinois:

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Look Inside >> REAL FACTS AND STATS in Niles, Illinois

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Find the Perfect Home: Skokie, Niles, Wheeling, Wilmette, Winnetka Real Estate

noreply@blogger.com (Dmitry Vikhter) — Fri, 29 Dec 2023 18:49:00 +0000

I can help you find the perfect home.

A first-time home buyer or repeat buyer, I can help you in every step of your real estate transaction, the mortgage process, pre-approval, your home search, contract, all communications with the attorneys, home inspection, and city services.

my unique expertise in Buffalo Grove, Chicago, Deerfield, Des Plaines, Elk Grove Village, Glencoe, Glenview, Golf, Highland Park, Kenilworth, Lake Bluff, Lake Forest, Lincolnshire, Lincolnwood, Long Grove, Morton Grove, Mount Prospect, Niles, Norridge, Northbrook, Northfield, Park Ridge, Prospect Heights, Riverwoods, Rosemont, Skokie, Wheeling, Wilmette and Winnetka.

START YOUR HOME BUYER APPLICATION

Start your home buyer application.

Before you start looking, consider what you want in your home so your real estate broker only shows your homes that meet your needs.

Type of home:

Single-family home
Can vary greatly in size, number of rooms and building style. It's the most private kind of dwelling you can own.

Condominium
Shares a wall or other structural part with an adjoining unit, so it's not as private. You only own the space inside your unit, so that's all you pay taxes on. You'll pay homeowners association (HOA) fees to cover the cost of exterior maintenance upkeep—and those fees aren't tax deductible.

New construction - Ask me about new homes or new construction!
# of bedrooms, # of bathrooms, family room, formal dining room

Other features:
Garage, pool, yard, fence

Planned unit development
A development where buyers own individual houses and lots, but common areas are reserved for shared use and managed by a homeowners association. You'll typically pay HOA fees.

Co-op
Usually, an apartment-style building is owned by a corporation. Buyers buy stock in the corporation and have the right to live in a unit under a proprietary lease.

Other important factors to consider:

Schools
If you have kids or hope to in the future, then the local public schools near your home will be important for you.

How are the nearby schools rated?
What's the dropout rate?
How far will your kids have to travel to get to school?

A good real estate broker should be knowledgeable about this, and you can learn more through websites like greatschools.org.

Safety

How many crimes take place in the neighborhood? What kinds of crimes are most common?
Will you feel safe going out with your family? Talk to your real estate agent about local safety,
and you can also talk to local police. Visit the house at different times of day and night to see
who's out, and what it's like after sunset.

Traffic

How long will your commute to work be?
How busy are the streets around your property?
How much noise does the traffic make?
How easy is it to get around for basics like grocery shopping?

Privacy and neighbors

Are there lots of children playing in the neighborhood, or is it quiet?
Do the neighbors know each other, or mind their own business?
You can talk to neighbors and your real estate broker to get a sense of what the neighborhood is like.

At Home with Diversity® certification

What Does "Closing" Mean

noreply@blogger.com (Dmitry Vikhter) — Wed, 20 Dec 2023 23:35:00 +0000

Closing Day.

In Closing: How to Seal the Home-Buying Deal

Sign that paperwork. Write those checks. Get those keys!

The closing. It all comes down to this. The grand finale. Once you have the keys, the house is yours. (Cue: Air horn sound!)
Nice work getting this far. You’re almost a homeowner! Let’s run through some questions you may have as you cross the finish line.

What Does "Closing" Mean?

The close or settlement is when you sign the final ownership and insurance paperwork and get the home’s keys.
The closing process technically begins when you have signed a purchase and sale agreement. That agreement should specify a closing date. Typically — from the signing date to the closing date — closing takes four to six weeks. During this time, purchasing funds are held in escrow, where your money is safe until the deal is officially done.

What's a Closing Disclosure?

Lenders must provide borrowers with a Closing Disclosure, or CD, at least three days before settlement. This form is a statement of your final loan terms and closing costs.
You have three days to {{ start_tip 89 }}review the CD.{{ end_tip }} Compare it to the Loan Estimate you received shortly after you applied for the loan. If you need a refresher on Loan Estimates, you can view a sample version here.)
The point of this formal review process is to ensure there are no surprises at the closing table. If there’s a significant discrepancy between the Loan Estimate and CD, notify your lender and title company immediately. Depending on what the underlying issue is, the closing has to stop and a new closing disclosure must be sent out with a new three-day review period.
There are a couple things on the LE that can’t change by the time you get the CD — namely interest rate and lender fees. Some items can change by only 10% (fees paid to local government to record the mortgage might be one); and others can change without limit, like prepaid interest, because it can’t be predicted at the start of the loan process.
Explore More Topics:
Prepare for Closing
Buy a Home: Step-by-Step

When Will the Final Walk-Through Happen?

Most real estate sale contracts allow the buyer to walk through the home within 24 hours of settlement to check the property’s condition. During this final inspection, which usually takes about an hour, you and your agent will make sure any repair work that the seller agreed to make has been completed.
During the walk-through, you’ll also double-check that everything in the house is in good working order. Be sure to:

Run water in all the faucets and check for leaks under sinks.
Test appliances.
Check the garage door opener.
Flush toilets.
Open and close all doors.
Run the garbage disposal and exhaust fans.

If the home is in good shape — woo-hoo! Your next stop is the closing table.
If anything is amiss, your agent will contact the listing agent and, in most cases, negotiate to get the seller to compensate you at closing — typically in the form of a personal check — for the costs of fixing the problems yourself.
Worst-case scenario: You have to delay closing to resolve problems. In the unlikely event that happens, your agent will help you address the issue.

Who’s Invited to The Closing?

Certain people will be there. Who, exactly, depends on your state. Typically, you will be joined by:

Your agent
The seller
The seller’s agent
A title company representative
Your loan officer
Any real estate attorneys involved in the transaction

The closing usually takes place at the title company, attorney’s office, or the buyer’s or seller’s agent’s real estate office. FYI: Some states, like California, don’t require an in-person, sit-down closing because they’ve enacted legislation that allows for electronic closings with remote notaries.
Nonetheless, as the home buyer, you’ll have to sign what might seem like a mountain of paperwork — including the deed of trust, promissory note (promising the lender you’ll pay back the loan), and other documents. That cramp in your wrist will be worth it once everything is done.

How Much Will I Pay for Closing Costs?

If you’ve heard people vent frustration with the process of buying a home, then you’ve likely heard complaints about unexpected costs at closing. Let’s unpack what you should expect so you’re not surprised, too.
Closing costs can vary widely by location and your home’s purchase price. Costs are split between you and the seller, but as the buyer you’ll cover the lion’s share. You can generally expect your closing costs to be 3% to 4% of the home’s sales price. So, on a $300,000 home, you can pay anywhere from $9,000 to $12,000 in closing costs. (Meanwhile, the seller typically pays closing costs of 1% to 3% of the sales price.)
You can try to predict closing costs with calculators like Nerdwallet’s, which lets you plug in your mortgage details to get a rough estimate of what your costs will be.
Closing fees often include (but are not limited to):

Commission for the buyer’s agent and seller’s agent
A loan application fee
An origination fee, which lenders charge for processing your loan
The appraisal fee
A fee for pulling your credit report
An underwriting fee, which covers the lender’s costs of researching whether to approve you for the loan
A title search fee
Property taxes, which are due within 60 days of the purchase
A recording fee for filing a public land record with the courthouse

These fees are a bummer. The bright side: Almost all of them are one-time deals.

What Should I Bring? (Other than Champagne?)

At the closing you should have:

A government-issued photo ID
A copy of the ratified sales contract
A homeowner’s insurance certificate
Proof of flood insurance, if you’re buying a home in a flood zone
A cashier’s check, or proof of {{ start_tip 90 }}wire transfer,{{ end_tip }} to cover the remainder of the down payment and your closing costs

Also, talk to your attorney about anything else you might need to bring depending on your state or personal circumstances (such as a separation or divorce decree, should your relationship status affect the closing).

What Is Title Insurance and Why Do I Need It?

Every lender requires borrowers to purchase title insurance — a policy that protects you and the lender from outside claims of ownership of the property. Wait, you may be asking, some random person could show up and claim they own the house? Sounds crazy, but it happens.
Let’s say a previous owner didn’t pay all of their property taxes. Because those taxes remain against the property, the taxing entity could potentially take your home if you don’t have a “clean” title. Title insurance also protects you from ownership claims over liens, fraudulent claims from previous owners, clerical problems in courthouse documents, or forged signatures.
The title company will perform a comprehensive search of deeds, wills, trusts, and public records to trace the property’s history and verify that you’re becoming the rightful sole owner of the property.
Typically, lenders have a preferred title company they work with, but it’s ultimately the buyer’s decision as to which title company to use. Your agent could offer a few referrals.
Title insurance comes in two forms:

Lender’s title insurance, which (no surprise) protects the lender. It’s required.
Owner’s title insurance, which protects you. It’s optional but recommended because it covers your interest in the property. If the insurance company loses a battle over the title in the future but you purchased owner’s title insurance, you’re fully protected. Owner’s title insurance will also cover your legal fees if you have to defend your ownership rights in court.

Unlike most insurance policies, such as homeowner’s insurance, car insurance, and life insurance, title insurance is paid as a one-time fee at closing. The average cost of title insurance is about $544 for the lender’s policy and about $830 for the homeowner’s policy, according to ValuePenguin data. However, costs can vary significantly depending on the home you’re buying, where it’s located, and how much legwork the title company has to perform.

What If There are Last-Minute Issues? Should I Panic?

For your loan to be approved, it has to go through underwriting. The underwriter’s job is to {{ start_tip 91 }}validate all of your financials{{ end_tip }} — confirming that your income, credit, and debt haven’t changed since you were pre-approved for the loan — as well as to review the property’s characteristics and appraisal. If everything checks out, your mortgage will be approved.
If something goes wrong during underwriting though, you’ll have to address the problem before you can close on the home. Let’s say your credit score dropped because you recently purchased a car with an auto loan, or maxed out your credit cards.This isn’t necessarily dire, but you may need to delay closing as you work with your lender to take steps to raise your score. (Also, for that reason, it’s a good idea to hold off on big purchases, avoid overusing a credit line, and doing really anything that could result in a credit inquiry until after the closing.)

OK — Can I Celebrate Now?

If you’ve made it through close … YES! Once you’ve climbed that mountain of paperwork and have those keys in your hands, you now officially, finally own a home.
Congratulations! You put in a lot of hard work — including to build relationships with your agent, your lender, and other experts along the way.
Now it’s time to start investing in other relationships. Like with your new neighbors :)

noreply@blogger.com (Dmitry Vikhter) — Wed, 18 Oct 2023 19:22:00 +0000

Tell us about your international properties. Market your property to the World in 2023-2024.

In the fast-paced world of real estate, reaching a global audience is key to selling properties quickly and effectively. As we enter 2023 and move into 2024, here are some essential tips for marketing your real estate listings to the world.

1. Showcase Property Details

The first step in marketing your property to a global audience is to provide comprehensive details. This includes:

Property type (e.g., residential, commercial, or land)
Square footage or size
Number of bedrooms and bathrooms
Special features or amenities
Price range and currency

2. Highlight the Country and Location in your Post Comments

Clearly indicate the country where the property is located. In addition, specify the city or region. For example:

Country: The United States
Location: New York City, Manhattan

This information helps potential buyers understand the property's geographical context.

3. Emphasize Unique Features in your Post Comments

Differentiate your property by emphasizing unique features or selling points For example:

Stunning waterfront views
Beach location or access
Local infrastructure, stores, food, healthcare, retail service facilities or shopping malls
Modern kitchen with high-end appliances
Spacious backyard with a pool
Proximity to major landmarks or attractions
Capturing what makes your property stand out can pique the interest of global buyers.
Other details

4. Multilingual Descriptions

To attract international buyers, provide property descriptions in multiple languages, including English language. This can significantly expand your reach and make your listings more accessible to a diverse audience.

5. Interactive Maps and Neighborhood Information

Provide interactive maps that highlight nearby amenities, schools, shopping centers, and public transportation options. Including information about the local neighborhood can help buyers visualize the property's surroundings.

This article is about:

By following these strategies, you can effectively market your properties to a global audience in 2023-2024. With the right approach and a strong online presence, you'll maximize your chances of attracting international buyers and closing successful real estate deals.

Market your Illinois property to the world.

60 million buyers across a vast network
70 publishers and 40+ countries
key coverage in Asia, Europe, and North & South America
local MLS, listing syndication to over 100 approved sites and boards
CIPS International Professionals are located in 46 countries

FOR YOUR BENEFIT
"I use REALTORS® powerful analytical platforms for your advantage"

Know Your Buyer - demographics, interest, Geo locations and consumer behavior
CMA - Comparative Market Analysis reports, pricing and neighborhood information, your property performance

FOR YOUR BETTER BUSINESS DECISIONS
when you buy, sell or invest in real estate

" I know how to service international customers and conduct real estate transactions in Illinois. I know how to compete in today’s international real estate market. I have the education, the resources, and the network to build an international marketing strategy for your property to help attract qualified buyers from around the globe."

Unlocking the American Dream: A Guide to Your First Home Purchase in the U.S.

noreply@blogger.com (Dmitry Vikhter) — Tue, 17 Oct 2023 19:39:00 +0000

Navigating the U.S. Real Estate Market: 7 Essential Tips for First-Time Homebuyers

Becoming a homeowner in the United States is a significant step towards achieving the American dream. With just over half of foreign-born households in the U.S. owning their homes, you too can embark on this exciting journey. However, the U.S. real estate market can be complex, and the process may differ from what you're used to. To help you navigate it successfully, here are seven essential tips for buying your first home, American-style:

Tip 1: Establish Your Identity

While you don't need U.S. citizenship or a specific visa to purchase a home, you must have a few key documents:

Individual Taxpayer Identification Number (ITIN): This number is assigned by the Internal Revenue Service (IRS) to foreign nationals who need to file income tax returns.

Valid Foreign Passport or Photo Identification: You should have at least one of these to confirm your identity.

It's important to note that property ownership isn't tied to your immigration or visa status, but it's essential to understand U.S. visa requirements to ensure you can stay in the country legally.

Tip 2: Plan Your Path to Homeownership

Consider getting a mortgage to expedite your journey to homeownership and start building equity sooner. The U.S. offers a variety of safe and affordable mortgage options, some of which accommodate specific religious or ethical requirements, such as those for Muslims who wish to avoid paying interest. To secure a U.S. mortgage:

Establish credit by opening U.S. bank and credit card accounts.

Ensure all your income is reported on your tax returns, as lenders use this information to assess your borrowing capacity.

Major banks with global operations often have experience working with foreign buyers and a process for verifying credit established in other countries.

Tip 3: Partner with a Certified International Property Specialist

When selecting a REALTOR®, ensure they are a Certified International Property Specialist (CIPS) with experience, training, and education in assisting foreign-born homebuyers. Additionally, consider consulting with an experienced real estate or title attorney to protect your interests. Communicate your native country's home-buying process to your real estate agent and ask them to explain U.S. customs, including closing costs, inspections, and negotiations. Variations can exist even within the U.S., so understanding these differences reduces stress and helps you secure a favorable deal.

Tip 4: Embrace the Informal Process

U.S. business culture fosters a relaxed and casual attitude toward real estate transactions. Although real estate contracts must be in writing, the process leading up to the contract signing may be less formal than what you're accustomed to in your home country.

Tip 5: Convert Units Effortlessly

Familiarize yourself with the U.S. standard measurement system or use a metric converter app to help you estimate room and home sizes while house hunting.

Tip 6: Language Support Matters

If English isn't your first language or you prefer communicating in your native language, look for inspectors, mortgage bankers, and REALTORS® fluent in your language. While translated copies of standard real estate documents are possible, you'll likely need to sign the English versions during your home purchase.

Tip 7: Prepare a Financial Blueprint for Homeownership

Finally, it's crucial to create a comprehensive financial plan for homeownership. Consider all related expenses, including property taxes, homeowners insurance, and maintenance costs. This plan will help you manage your finances effectively and ensure you're well-prepared for the responsibilities of owning a home in the U.S.

By following these seven tips, you can navigate the U.S. real estate market with confidence and successfully embark on your journey to becoming a proud homeowner. Good luck, and welcome to the world of American homeownership!

This article is about:

Explore essential tips for first-time homebuyers in the United States, from navigating the complex real estate market to understanding the unique requirements for foreign buyers. Learn how to establish your identity, secure a mortgage, work with experts, and embrace the U.S. home-buying experience while creating a financial plan for successful homeownership.

Tips for buying your first U.S. home: identity, mortgage, experts, and more. A guide to successful homeownership.

International Buyer Application Chicago

How to buy home in USA - Find your home with Dmitry Vikhter

noreply@blogger.com (Dmitry Vikhter) — Tue, 25 Aug 2020 20:15:00 +0000

7 Tips for Buying Your First Home in the U.S.

Find your Home with Dmitry Vikhter, REALTOR(R)

Buy Homes America, Inc, real estate broker corporation, licensed in Illinois.

Dmitry Vikhter, Managing Broker

Article From HouseLogic.com

By: Dona DeZube

Help finding your way through the complex U.S. real estate market.

Nothing says you're truly an American like owning a home. And just over half of all foreign-born households living in the U.S. own their own home.

If you're ready to join them, try these seven tips for American-style homebuying success -- the process here may be quite different from what you're used to.

1. Be Ready to Prove Who You Are

You don't have to get your citizenship, a green card, or any particular type of visa before you buy a home. But you do need:

An Individual Taxpayer Identification Number. That's a number assigned by the Internal Revenue Service to foreign nationals who need to file income tax returns.

A valid foreign passport, or two or more current photo identifications, such as a driver's license, to show who you are.

Although property ownership isn't tied to immigration or visa status, there are rules about how long you can stay, so if you're not a citizen, check out U.S. visa requirements before you purchase.

2. Plan to Get a Mortgage

That way, you don't have to save your money for years to become a homeowner and start building equity. The U.S. home loan market offers many safe, affordable mortgages, including ones that allow Muslims to buy a home without violating Islamic laws against paying interest.

To get a U.S. mortgage, you must establish credit and earn a good credit score. To boost your score:

Open U.S. bank and credit card accounts.
Report all your income on your tax returns. Lenders use tax returns to verify your income and decide how much you can afford to borrow to buy a home.

When it's time to apply for a mortgage, you'll find major banks with global operations have experience working with foreign buyers and tend to have a process for verifying credit established in other countries.

3. Work with a Certified International Property Specialist

Make sure your REALTOR? is a Certified International Property Specialist (CIPS) and has experience, training, and education in helping foreign-born home buyers. An experienced real estate or title attorney can help you protect your interests, too. Tell your real estate agent how the home buying process works in your native country and ask her to explain U.S. home-buying customs to identify any differences. Even within the U.S., local differences exist in how people buy and sell homes. Knowing how homes are sold here and what to expect with closing costs, inspections, and the negotiation process reduces your stress and helps you get a good deal on your first home.

4. Don't Be Shocked By Casual Attitudes

Americans' casual attitudes toward buying or selling real estate is a byproduct of the relaxed U.S. business culture. Although real estate contracts must be in writing, the process leading up to the sales contract signing may be more informal and casual than it would be in your home country.

5. Convert Units

Learn to convert from the U.S. standard measurement into metric, or pick up a metric converter app so you can better estimate room and home sizes while shopping.

6. Find Someone Who Can Translate

If you're not fluent in English, or prefer speaking in your native language, choose inspectors, mortgage bankers, and REALTORS? fluent in your own language. Although it's possible to get translated copies of standard real estate documents, you'll likely have to sign the English versions during your home purchase.

7. Create a Financial Plan for Your Home

Consider all the real-estate related expenses you'll have as a homeowner, including property taxes, homeowners insurance, and maintenance costs. Set up a financial plan for your home so you know how much money to set aside for ongoing expenses.

Before You Choose a Mortgage Lender, Read These Tips

Customer Testimonials

5 Questions To Ask When Buying A House

noreply@blogger.com (Dmitry Vikhter) — Tue, 19 May 2020 16:18:00 +0000

5 Questions To Ask When Buying A House

Article From HouseLogic.com

By: HouseLogic
Published: January 08, 2020

There are no dumb questions to ask a real estate agent.

Home buying seems simple enough: Find a house you like that's close to work or school, tell someone you want to buy it, and move in.

But there's more to it than that. You'll have to find and get approved by a lender who will let you borrow a few hundred thousand dollars, lock in a mortgage rate, figure out how much house you can afford, put in an offer that will entice the seller, get an inspection and an appraisal, pay closing costs and sign a whole bunch of paperwork.

Phew! We need a break just thinking about all the questions to ask when buying a house.

Your real estate agent can help you understand the process. But if you don't ask questions or get your agent to clarify something you don't understand, they're not going to know you're confused. And you won't learn anything.

"There are no such things as stupid questions," says REALTOR? Ryan Fitzgerald in Raleigh, N.C. "If you have a question, ask it, no matter how foolish it sounds in your own head."

Don't be afraid. Ask away. You're making one of the biggest financial transactions of your life, so it's a good idea to tap into your agent's expertise.

Here are some questions to ask a real estate agent when buying a house.

1. How Many Clients Have You Helped Purchase Homes?

Before you pick a real estate professional, ask them how many clients they've worked with to find a home. Your real estate agent is supposed to be an expert, so one with a lot of experience will be a big help to a newbie home buyer like you.

That's not to say a newly licensed agent can't be a good one. But agents learn on the job. The more sales they've completed, and the more people they've helped buy a home, the more wisdom they have to share with you.

Related: The 14 Best Questions to Ask An Agent

2. How Old Is The HVAC, Water Heater, And Roof Of This Home?

It's easy to be dazzled by 12-foot ceilings, crown molding, and other aesthetic features, but you need to pay attention to the nuts and bolts of the house. We're talking the unsexy stuff like the HVAC system, water heater, roof, electrical system, and plumbing.

"Knowing the age and condition of the major items will help you gauge how much your home could potentially cost once you move in," Fitzgerald says. "The older the home, the more likely you are to have higher maintenance costs."

These items could have more impact on a home's value than quartz countertops or hardwood floors, because it's expensive when they malfunction. A leaking hot water heater can do thousands of dollars of damage. And replacing an aging HVAC system can start at more than $5,000, putting it in the major expense category.

3. What If The Home Inspection Reveals Major Issues?

We won't lie: The home inspection is one of the most nerve-wracking days of the homebuying process. It's when you find out about every wart on the place you fell in love with at the showing.

Most of the time the inspection goes as expected. But if you aren't expecting a major issue and the inspector discovers something awful like a rusting sewer main or walls full of termites, it can be panic attack time.

Breathe. "What should I do when the inspector has bad news?" is one of the most common questions to ask when buying a house. Talk to your agent.

Your agent can calm you down so you can plan your next move, whether it's "Let's kiss this money pit of a house goodbye" or "Let's negotiate with the seller and get those repairs done so you can close on time."

4. What Happens If The Appraisal Comes Back Low?

In competitive markets where there are more buyers than sellers, it's possible to end up in a bidding war over a house. This can drive the sales price higher than the appraised value of the home. Lenders balk when the price is higher than the value, and this can jam up the deal.

Ask your agent what you should do if the appraisal comes in low. An experienced agent will have been in the situation before and have good advice. You'll have a couple of options, including ordering a second appraisal, covering the difference in cash, or walking away from the deal.

No matter what happens, keep your cool. Just because the appraisal is low doesn't mean the deal will fall through.

"When things don't go as expected, it's important to remain level-headed. You never want to allow your emotions to be too up or too down when buying a home," Fitzgerald says.

Related: How to Make the Appraisal Work, and When to Walk Away

5. What Do We Need To Do To Prepare For Closing?

Closing day is essentially the transfer of ownership, but it's not just a formality. It needs to go well. This is when you sign the final paperwork and get the keys to the house.

One of the most important questions to ask a real estate agent is exactly what you need to bring for the big day. You'll probably need your ID, a check for the closing costs, and proof of homeowner's insurance.

Asking in advance will keep you organized and help your first big real estate transaction run smoothly. You don't want to get there and realize you forgot a key piece of paperwork that keeps the deal from closing. Fewer things are as disappointing than not going home from a closing with keys to your new house.

So ask questions. Knowledge is power, so there are no silly questions to ask when buying a house.

Home Buying and Selling During the Pandemic: What You Need to Know

noreply@blogger.com (Dmitry Vikhter) — Tue, 19 May 2020 00:14:00 +0000

Home Buying and Selling During the Pandemic: What You Need to Know

By: Leanne Potts

Published: May 1, 2020

Resources to help you navigate the new real estate normal.

Technology and good-old-fashioned creativity are helping agents, buyers, and sellers abide by COVID-19 health and safety practices while getting deals done.
Some buyers are touring houses virtually. Others visit in person while remaining at least six feet from their agent. Sellers are hosting open houses on Facebook Live. Appraisers are doing drive-by valuations. Buyers are watching inspections via video call. Masked and gloved notaries are getting signatures on doorsteps.
“We have had to make some adjustments, for sure,” says Brian K. Henson, a REALTOR® with Atlanta Fine Homes / Sotheby’s International Realty in Alpharetta, Ga. “Everyone is trying to minimize face-to-face interactions. There have been some delays, but mostly, deals are getting done, just with tweaks.”
Here’s what home buying and selling during the pandemic looks like.

Showings Go Virtual

The rules around in-person showings vary by city, county, and state. Some allow them and some ban them. Check with your state, county, and local government to get the latest on business closures and shut-down rules.
Agents have conducted home tours via FaceTime and other similar tools for years. But these platforms have proven invaluable for home buying and selling during the pandemic. Real estate sites report a surge in the creation of 3D home tours. Redfin, a real estate brokerage, saw a 494% increase in requests for video home tours in March.
“I’ve done several FaceTime showings,” says Henson. He conducted virtual showings before COVID-19, too. He recently closed a deal on a home the buyers only saw on video, he says, but hasn’t yet done so during the pandemic.
In places where in-person showings are allowed, agents wipe down door handles, spray the lockbox with disinfectant, and open up the house, closets, everything for a client. “We leave all the lights on so no one touches switches, and we don’t touch cabinets or doors during showings,” Henson says.

Safe-Showing Guidelines

The NATIONAL ASSOCIATION OF REALTORS®, which produces HouseLogic, recommends only one buyer enter a home at a time, with 6 feet between each guest. NAR also recommends agents have potential buyers wash their hands, or use hand sanitizer when they come in the door. They should also remove their shoes. No children should be present at showings, either.
“We’re living in extraordinary times and unusual circumstances. If you have the ability to work, you have to be creative,” Mabél Guzmán, a Chicago real estate agent, told NBC News. Guzmán, who is also vice president of association affairs for NAR, has put together a video offering tips and strategies for virtual showings during the pandemic.

Down Payment Help

Many organizations offering down payment assistance to first-time home buyers have temporarily suspended the programs or changed the rules. You can check the status of programs in your area at the Down Payment Assistance Resource site.

Desktop, Drive-By Appraisals

Appraisers are essential workers in many areas, so home valuations are continuing. But often remotely. New, temporary rules from the Federal Housing Finance Authority allow drive-by and desktop appraisals for loans backed by the federal government.
In a desktop appraisal, the appraiser comes up with a home estimate based on tax records and multiple listing service information, without an in-person visit. For a drive-by, the appraiser only looks at the home’s exterior, in combination with a desktop appraisal. The Appraisal Foundation has put out guidelines for handling appraisals during the pandemic. Here’s the FAQ.
And here are specific new appraisal guidelines by agency:

On the other hand, some private lenders still require in-person appraisals, which are allowed even in areas with shutdown orders. Private lenders hold about 35% of first-lien mortgages, according to the Urban Institute
When appraisers come to your home, they should adhere to Centers for Disease Control guidelines, including wearing gloves and a face mask, keeping at least 6 feet apart from anyone in the home, and asking if the homeowners have been sick or traveled recently to a COVID-19 hotspot.

Inspections Via Live Video

Inspectors are now often working alone, no buyers in tow, and using hand sanitizer and alcohol wipes. The National Association of Certified Home Inspectors advises inspectors to videotape their inspection so clients can watch it at home later, or to use FaceTime or other live video chat apps to take their clients along on the inspection, virtually. They can also call clients with their findings after they’re done.
The American Society of Home Inspectors has also issued guidelines for inspectors so they keep themselves and the homeowners safe while providing an accurate assessment of a home’s condition.

Mortgage Rates and Locks

With mortgage rates fluctuating quickly and closing times taking longer than usual, some lenders are extending mortgage rate lock periods. You can grab a good rate and hang on to it even if your lender takes longer than usual to process your loan.
But the protocol depends on the lender and the loan. Some lenders are offering this for all loans; others for refis. Check with your lender about its policy.
Related: How to Get Home Financing

Employment Verification

An important step in getting a mortgage is proving the borrower has a job. In pre-coronavirus days, lenders called the borrower’s employer for a verbal verification.
The Federal Housing Finance Authority, which oversees Fannie Mae, Freddie Mac, and federal home loan banks, has relaxed the rules for loans backed by the federal government because so many businesses are closed.
Lenders for federally backed loans now accept an email from an employer, a recent year-to-date paystub, or a bank statement showing a recent payroll deposit as proof of employment.

Walk-throughs

Home buying and selling during the pandemic means real estate agents can conduct the final walk-through via video with their clients. Or they can just open the home and have buyers walk through on their own. Henson says he still accompanies his clients, but stays six feet away and has them wash their hands when entering and exiting the house. Everyone’s wearing masks, too.
And, of course, when the buyers take possession, they should disinfect.

Remote Notarization Depends On Where You Live

About one-half of states have permanent remote online notarization (RON) policies. These allow a notary and signer in different locations to sign electronic document, usually by use of video apps like Zoom or FaceTime. Notaries will watch you sign either a paper document or do an electronic signature on an e-doc, via camera.
Some states have rolled out temporary rules allowing RON. Here’s a state-by-state list of notary law updates, and the type of remote notarizations allowed. The number of states allowing remote notarization could grow as federal and state pandemic legislation expands.

Closings Get Creative

Traditional closings, where everybody gathered around a big table to sign the final papers, are no longer possible. Title companies and banks are getting super creative in dealing with the limitations.
A Minnesota company, Legacy Title, rolled out a drive-thru closing service at one of its offices in an old bank branch building. The title company rep sits in a bank teller window and handles the closing papers while the customer sits in their car. Legacy completed 14 closings in the first week it offered drive-thru service.
Then there are drive-by closings, where the entire transaction takes place in cars. Masked and gloved notaries meet buyers in parking lots and pass documents through car windows.
“I had a closing where the buyer sat in her car the whole time. The attorney came out to her car, gave her paperwork, had her sign in her car, and my buyer never got out of her car,” Birmingham, Ala., agent Isaac McDow told WBRC television.
Says Georgia-based agent Henson, “I’ve had closings the last three weeks [that] I’ve been asked not to attend. There was one where the seller signed two days before buyer. Then the seller came back two days later and signed.”
Henson, who is also licensed in New York, has had to extend closing dates on two sales there since. Co-op boards won’t let non-residents into buildings – not even an electrician who needs to make repairs as part of an issue that came up in the inspection. He left the closing with an open-ended date.
“It’s all about being really flexible right now,” he says.
TIP: Find out if your county recording office can complete the deal online.

Student Loan Relief

Finally, if you’re also trying to swing your student loan payments, know that federal student loan borrowers get an automatic six-month break in loan payments from April 10, 2020, through Sept. 3, 2020. Thanks to the Coronavirus Aid, Relief and Economic Security (CARES) Act, they also won’t be charged a dime of interest in that time.

Learn more at the Consumer Finance Protection Bureau’s site.

Keep in mind that payment suspension only applies to federal loans owned by the Department of Education. Some help may be available to borrowers with private student loans and other loans (like Perkins Loans and Federal Family Education Loans) that aren’t covered. But it’s not automatic. Reach out to your student loan servicer for information.

So, Should You Buy or Sell?

The real estate industry is creatively and safely responding to the situation, and mortgage rates remain low. Your agent is a great source of information about home buying and selling during the pandemic to help you feel comfortable. But, ultimately, it’s a question only you can answer.
Related: 5 Questions to Ask Your Agent When Buying a House

Looking To Buy or Sell in Illinois? Contact Dmitry Vikhter at Buy Homes America, Inc.

Find your dream home with Dmitry Vikhter

noreply@blogger.com (Dmitry Vikhter) — Fri, 21 Jun 2019 22:05:00 +0000

Real time home search in Chicago and suburbs.

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At Home with Diversity® certification

These Tiny Changes Can Transform Your Home in a Big Way

noreply@blogger.com (Dmitry Vikhter) — Fri, 14 Jun 2019 23:16:00 +0000

Pulls and Knobs Open the Door to a New Look

Repair and replace door hardware that makes rooms look dingy and outdated. We’ll show you how door and cabinet pulls, knobs, and hinges can give your home new sparkle. Read
Repair Walls to Give Rooms a Fresh Face

Sooner or later you’ll repair walls that make rooms look worn out. Erasing dings, dents, and scuffs is an easy fix. We’ll show you how. Read
Replacing Rain Gutters and Downspouts

Replace missing gutters and downspouts to prevent serious siding and foundation damage that may cost you $10,000 or more to repair. Read
Remove Stains From Walls Before You Paint

It’s the first commandment of painting. Here’s how to wash seven common stains off your walls. Read
Kitchen Countertop Triage: First Aid for Scratches

You can repair kitchen counter mishaps with only a little time and money. Big boo-boos, however, will need professional help. Read

Visit houselogic.com for more articles like this.

Skokie real estate

noreply@blogger.com (Dmitry Vikhter) — Mon, 27 May 2019 05:30:00 +0000

Skokie Real Estate. Homes for Sale in Skokie Illinois.

Skokie Homes, Condominiums and Town homes For Sale in Skokie

Looking To Buy or Sell in Skokie?

Whether you’re an owner looking to protect your investment or tenant or buyer looking for a new home, Buy Homes America, Inc. is the leading choice.

Request your FREE neighborhood reports for Skokie Illinois:

Housing Stats and Charts
People Stats and Charts
Economic Stats and Charts
CMA - Comparative Market Analysis
Property alerts in your email inbox

Jobs in real estate for motivated brokers in Chicago North

noreply@blogger.com (Dmitry Vikhter) — Fri, 24 May 2019 15:33:00 +0000

We are looking for motivated real estate brokers to join our team.

Marketing real estate agents.

Why join our team?

Your name is unique and you deserve an individualized approach in your marketing strategy to ensure your success.

Our managing broker, Dmitry, is a highly technical data architect. An expert in advanced data processing, real estate social media and business intelligence, Dmitry excels in Microsoft cloud solutions for small and midsize businesses while bringing his international experience to the United States.

No franchise fees - No office fees- No royalty fees – No transaction fees – No contract renewal fees

Technology consulting	FREE
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As a leader in technology in the brokerage space, we provide differentiable skill sets for our future brokers:

We select critical technologies to capture real leads from real resources
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Long-term marketing strategies include (but not limited to) Local Ads, Geo-Targeting, Geographical Prospecting and Global Ads - no useless websites, portals or software
We deploy your marketing and re-marketing campaigns, focusing on targeting and retaining residential and commercial clients while complying with the Code of Ethics and License Law
You will be professionally trained on a high level of real estate transactions, collaborations with partners and lenders, and customer acquisition strategies.
You will learn from your managing broker how to work with local multicultural consumers, international buyers, business owners, corporations, and organizations.

We have an opportunity to market your real estate listings with businesses and proposals to the international market. We aim to reach over 60 million buyers across a vast network of over 70 publishers and 40+ countries, along with key coverage in Asia, Europe, and North & South America.

If you would like to learn more about the marketing approaches of Buy Homes America, please take a moment to watch this video:

"I am the managing broker and owner of Buy Home America, Inc., a real estate brokerage with plans to expand my team. With my technology expertise, my objective is to be a valuable resource for new brokers - always ready to answer their questions. In addition to advanced technology, I intend to educate potential brokers in the fields of marketing, geo-targeting, real estate transactions, start-up businesses, business relocation, and much more. After several years spent in IT-related fields as a partner for Microsoft and Intel for small and midsize businesses, I carry comprehensive knowledge to help commercial and international brokers promote their services.

My role is specifically focused on building promotions and supporting sponsored brokers for Buy Homes America, Inc."

- Dmitry Vikhter, Managing Broker, Certified International Property Specialist (CIPS)

Buy Homes America, Inc. is looking for the following qualities to represent us:

Residential & commercial brokers with the ability to work with business groups and commercial transactions
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Employment type: Contract

The Sponsoring Broker will consider all qualified and licensed applicants without regard to race, color, religion, citizenship, national origin, ancestry, age, sex, sexual orientation, genetic information, veteran or marital status, or any other class protected by law.

I understand the need for discretion and would welcome the opportunity to speak to any candidates who are considering a new career or job either now or in the future. Confidentiality is guaranteed. Please feel free to contact me at my business phone at (847) 401-8870 or direct email at dmitry@buyhomesamerica.com.

How Much Mortgage You Can Afford?

noreply@blogger.com (Dmitry Vikhter) — Wed, 15 May 2019 00:06:00 +0000

How Much Mortgage You Can Afford?

Before You Buy A Home:

5 Ways You Didn't Know You Could Save for a Down Payment

One of the biggest misconceptions of homebuying? The 20% down payment. Here’s how to buy with a lot less down. Read
4 Tips to Determine How Much Mortgage You Can Afford

By knowing how much mortgage you can handle, you can ensure that homeownership will fit in your budget. Read
How to Assess the Real Cost of a Fixer-Upper House

When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial fix. Read
7 Tips for Improving Your Credit

Here’s how to clean up your credit so you get the least-expensive home loan possible. Read
7 Steps to Take Before You Buy a Home

By doing your homework before you buy, you’ll feel more content about your new home. Read

Visit houselogic.com for more articles like this.

Where are the right people for a business?

noreply@blogger.com (Dmitry Vikhter) — Fri, 10 May 2019 13:52:00 +0000

Where are the right people for a business?

Geographic area and the demographics.

Find people using spending and demographic data.

Examine a larger geographic area and the demographics of the intended people to find the best trade areas to locate a business. Then search for available commercial properties with our brokers.

Explore demographic area reports.

in Lake County:

Trade Area Report Ranked by city, all retail spending, high disposable income, household income, and rent or own.

In Chicago North Suburbs:

Trade Area Report Ranked by dining out, retail spending, avg. net worth, and spent on internet.

Explore related links:

What's the best location for a business?

What's the best business for a location?

	(847) 401-8870 dmitry@buyhomesamericа.com Find your customers.
"When using spending and demographic data, it's possible to review attributes and characteristics such as Who They Are, What They Do, Where They Live, What They Buy, How They Behave, other Facts & Stats. ." Find the best location for a business with our brokers and partners. We can help!

What's the best business for a location?

noreply@blogger.com (Dmitry Vikhter) — Fri, 10 May 2019 13:51:00 +0000

What's the best business for a location?

Commercial real estate services.

Find the best business for a location.

Determine the best business for a location based on an area's demographics and existing businesses. Then search for available commercial properties with our brokers.

View our best business reports.

in Chicago North Suburbs:

Lincolnwood Skokie Morton Grove Glenview Niles Des Plaines	Northbrook Deerfield Highland Park Evanston Wilmette Winnetka

Now available to explore:

What's the best location for a business?

Where are the right people for a business?

What's the broad area you want to search?

	(847) 401-8870 dmitry@buyhomesamericа.com Request your best report.
"Location is pivotal in getting investment and pricing decisions spot on - identifying opportunities ahead of the competition. My diverse skills are combinations of advanced analytics, digital marketing and real estate. I supply customers with the valuable information, reports and statistics." Find the best location for a business with our brokers and partners. We can help!

What's the best location for a business?

noreply@blogger.com (Dmitry Vikhter) — Fri, 10 May 2019 13:46:00 +0000

What's the best location for a business?

Places to find your customers..

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Find the best spot for your business based on the type of enterprise and the general desired location. Then search for available commercial properties with our brokers.

Trade analysis reports.

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What's the best business for a location?

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dmitry@buyhomesamericа.com

Request your trade analysis report.

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When using analytics, it's possible to review charts to understand whether the property is a good investment and a great match to your potential purchase."

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We can help!

What Every Seller Needs to Know About Closing

noreply@blogger.com (Dmitry Vikhter) — Fri, 26 Apr 2019 15:50:00 +0000

Final Walk-Through.

What Every Seller Needs to Know About Closing

HouseLogic
Walk-throughs, closing costs, and other items to check off your list before the big finish!

Closing time. The end of the road. The last hurrah — and hurrahs are in order.
If you’re here, then you’ve found a buyer, negotiated home repairs, and are ready to move out -- and on. But before you can make this sale official (and get paid!), you still have a few items to cross off your list.
Here, we’ve laid out everything you need to know to have a successful settlement.

Closing Is the Final Step

Closing, or “settlement,” is when both parties sign the final ownership and insurance paperwork, and the buyer becomes the legal owner of the home.
Typically, closing day takes place about four to six weeks after you signed a purchase and sale agreement. During this window, the buyer’s purchasing funds are held in escrow until all contingencies, like the home inspection contingency and appraisal contingency, are met.
Your agent will be able to answer questions and offer support through closing. Here’s what to expect from the process, start to finish.

Before You Close, You’ll Have a Final Walk-Through

Most sales contracts give the buyer one last chance to do a walk-through of the home within 24 hours of settlement. This is their chance to check that the property is in good condition, and to make sure the agreed-upon repairs were completed.
In most cases, no problems arise at this stage of the transaction. (If something is amiss, your agent can walk you through it.) The final walk-through mostly gives buyers peace of mind knowing that you, the seller, have adhered to the conditions of the sales contract and home inspection-related repairs.
Related Topic: Sell a Home: Step-by-Step

Follow These Steps to Prepare for the Final Walk-Through

To help ensure that the walk-through goes smoothly, take these six steps ahead of time to prepare:
Step #1: Clean house. Your home should be spotless for the final walk-through. Assuming the buyer is taking ownership on closing day, you should be fully moved out at this point. But moving can be messy. After purging, packing, and moving, you may want to do one more deep cleaning.
Step #2: Leave owner’s manuals and warranties. Make the buyer’s life easier by providing all manuals and warranties you have for home appliances. Print physical copies and put these documents in one place for the new owner. If you have receipts from contractors for repairs, leave them with the manuals.
Step #3: Provide a vendor list. Give the buyer contact information for home contractors or maintenance companies that you’ve used in the past. These vendors are familiar with your home, and the new owner will appreciate having a list of servicers they can trust will take good care of their new home.
Step #4: Check for forgotten items. Do one more check throughout the home to make sure you’re not leaving anything behind. One exception: You may want to leave unused or leftover paint cans in the colors currently in use within the home — but confirm with the buyer first.
Step #5: Turn off water shut-off valves. The last thing you want before closing is a flood. With the buyer’s permission, turn off your house’s main shutoff valve 24 hours before closing.
Step #6: Lock up. Until settlement is complete, you’re legally responsible for the home — meaning you’d be liable if there’s a break-in before closing. So, the day before settlement make sure to close window coverings and lock the entry doors. If a house looks un-lived in, it’s a welcome sign to burglars. It’s a good idea to leave a porch light on, or to set an interior light to turn on and off with a timer.
If the final walk-through reveals an issue with the house, don’t panic. The standard protocol is for the buyer’s agent to immediately alert the listing agent that there’s a problem. Then, both parties work together to solve it. Typically, either the closing gets delayed or there's additional negotiation, such as monetary deduction of the sales price. In other words: There are options, and your agent can help you through this.

Up Next: The “Closing Disclosure”

Let’s assume the final walk-through is smooth sailing. (Woo-hoo!) What happens next?
You’ll get info about your closing costs from the title company.
Meanwhile, the buyer’s mortgage lender must provide the buyer with a Closing Disclosure, or CD, three business days before settlement. This is a formal statement of the buyer’s final loan terms and closing costs. As the loan borrower, the buyer is entitled to a three-day review period to see if there are any significant discrepancies between their CD and Loan Estimate (LE) — a document buyers receive when they apply for a loan. The LE outlines the approximate fees the buyer would need to pay.
In most cases, there are no major differences between the CD and LE. However, if certain closing costs differ by 10% or more between the estimate and the disclosure, the buyer’s loan has to go back to the mortgage lender so that cost differences can be reviewed. If that happens, closing is usually delayed until the issue is resolved.

Expect to See These People at the Closing

The closing typically takes place at the title company, attorney’s office, or the buyer’s or seller’s agent’s real estate office. (Unless you live in a state that allows for electronic closings -- eClosings -- with remote notaries. In that case, the involved parties can opt to sign documents digitally.)
The list of legally mandated attendees will depend on your state, but usually you’ll be joined by:

Your agent
The buyer
The buyer's agent
A title company representative
The loan officer
Any real estate attorneys involved with the transaction

Remember to Budget for Closing Costs

Closing costs can vary widely by location, but you’ll generally pay closing costs of 5% to 10% of the home’s sales price. So, on a $300,000 home, you can expect to pay anywhere from $15,000 to $30,000 in closing costs. In most cases, these costs are deducted from your proceeds at closing.
Closing costs for sellers typically include:

The commission for the listing agent and buyer’s agent
Transfer taxes or recording fees
Loan payoff costs
Unpaid homeowner association dues
Homeowner association dues included up to the settlement date
Prorated property taxes
Escrow, title, or attorney fees

Be Sure to Bring These Things to Closing

At the closing you should have:

A government-issued photo ID
A copy of the ratified sales contract
House keys, garage remotes, mailbox keys, gate keys, and any pool keys
A cashier’s check, or proof of wire transfer, if your closing costs are not being deducted from the sales price. (Yes, it’s OK to use a cashier’s check — especially if you don't want to deal with the hassle of a wire transfer, which can take time to clear. With a cashier's check, you're guaranteed the money you need for settlement will be there at closing.)

Don’t Forget to Dot These I’s and Cross These T’s

Before you rush off to pick out paint samples for your new place, remember to do these two steps that are often overlooked by sellers:
Transfer utilities. Don’t want to pay for the new owner’s utility bills? Coordinate with the buyer so that utilities — including not only gas and electric but also water and cable — are transferred to the buyer on closing day.
Change your address. You obviously want your mail to be sent to your new home. Setting up a forwarding address will also ensure that you can be reached if there are any post-closing matters. You can file a change of address with the U.S. Postal Service here.

Finally: Celebrate!

At last, your home is officially sold. Congratulations! Give yourself a pat on the back — and then start settling into your new phase of life.

Make an Offer Like a Boss

noreply@blogger.com (Dmitry Vikhter) — Fri, 29 Mar 2019 20:58:00 +0000

Real estate contract.

Make an Offer Like a Boss

Ah, the offer!
Know Your Limits | Learn to Speak "Contract" | Set Your Price | Figure Out Your Down Payment | Make an Earnest Money Deposit | Review Contingency Plans | Read the Fine Print | Make a Date to Settle | Write a Fan Letter to the Seller | Brace Yourself for a Counteroffer
Cinematically speaking, this is the iconic moment — we’d forgive you if you imagined, say, putting a hand on your agent’s shoulder and whispering (in your best Vito Corleone) that you’re going to make them an offer they can’t refuse.
In reality, it’s not that simple (or dramatic). Your offer marks the beginning of a {{ start_tip 80 }}back-and-forth between you and the seller,{{ end_tip }} typically with real estate agents advising you both.
The more intentional you are about your offer, the better your chances of making a successful bid. Follow these 10 steps, and you’ll be well prepared — that’s a true story. ("The Godfather" again. We couldn’t resist.)

#1 Know Your Limits

Your agent will help you craft a winning offer. You can trust your agent’s advice on price, contingencies, and other terms of the deal: It’s a mutually beneficial relationship. The more collaborative you are with your agent, the more quickly you’ll be able to move.
But ultimately, it’s you who decides what the offer will be — and you who knows what your financial and lifestyle limits are. Buying a home means mixing strong emotions with business savvy, so now is also a good time to reflect on your “musts.”

Have a top limit to your offer price because you’re also saving for retirement and love beach vacations? Stick to it.
Want a vegetable garden or to paint your home’s exterior purple? Make sure your homeowners association rules permit it.
Besides reading HOA rules, find out how much the HOA has in reserves to cover common area repairs. You don't want to be slapped unexpectedly with a special assessment.
Want a dog-friendly community? Make sure there are no pet weight limits preventing you from cohabitating with your (extra-large) {{ start_tip 82 }}canine bestie.{{ end_tip }}

#2 Learn to Speak "Contract"

Essentially, an offer is a contract. The documents and wording vary across the country.
In the spirit of due diligence, take time to review sample offer forms before you’ve found a house (LawDepot.com has purchase agreements for each state). If you’re high-maintenance, a real estate attorney can explain the documents to you so you’re familiar with their vocabulary when you’re ready to pull the trigger on an offer with your agent. Your agent will have offer forms for your state.
Explore More Topics:
Make an Offer & Negotiate
Buy a Home: Step-by-Step

#3 Set Your Price

Homes always have a listing price. Think of it as the seller’s opening bid in your negotiation to buy a home.
As the buyer, your offer will include an offer price. This is the first thing home sellers look at when they receive a bid.
Your agent will help you determine whether the seller’s listing price is fair by running comps (or comparables), a process that involves comparing the house you’re bidding on to similar properties that recently sold in the neighborhood.
Several factors can also affect your bargaining position and offer price. For example, if the home has been sitting on the market for a while, or you’re in a buyer’s market where supply exceeds demand, the seller may be willing to accept an offer that’s below the list price. Or if the seller has already received another offer on the home, that may impact the price you’re willing to offer. Your agent will help you understand the context here.

#4 Figure Out Your Down Payment

To get a mortgage, you have to make a down payment on your loan. For conventional loans (as opposed to government loans), making a 20% down payment enables borrowers to avoid having to pay private mortgage insurance (PMI), a monthly premium that protects the lender in case the borrower defaults on the loan.
But 20% isn’t always feasible — or even necessary. In fact, the median down payment was 10% in 2017, according to the National Association of REALTORS®. Your lender will help you determine what the best down payment amount is for your finances. Depending on the type of loan you get, you may even be able to put down as little as 0% on your mortgage.
You might qualify for one of the more than 2,400 down payment assistance programs nationwide. Many of them make funds available to households earning as much as 175% of area median income. In other words, middle-income households. And the savings can be substantial: Home buyers who use down payment assistance programs save an average of $17,766 over the life of their loan, according to real estate resource RealtyTrac. Find out more about down payment assistance programs in your state.
You can use an online mortgage calculator to see how different down payments would affect your mortgage premiums and how much you’ll pay in interest.

#5 Show the Seller You’re Serious: Make a Deposit

An EMD — short for earnest money deposit — is the sum of money you put down as evidence to the seller that you’re serious (read: earnest) about buying the house. If the seller accepts your offer, the earnest money will go toward your down payment at closing. However, if you try to back out of the deal, you might have to forfeit the cash to the seller.
A standard EMD is 1% to 3% of the sales price of the home (so, that would be $2,000 to $6,000 on a $200,000 loan). But depending on how hot the market is where you live, you may want to put down more earnest money to compete with other offers.
In most cases, the title company is responsible for holding the earnest money in an escrow account. In the event the deal falls through, the title company will disperse the funds appropriately based on the terms of the sales contract. Title companies also check for defects or liens on a seller’s title to make sure it can be transferred cleanly to you.

#6 Review the Contingency Plans

Most real estate offers include contingencies — provisions that must be met before the transaction can go through, or the buyer is entitled to walk away from the deal with their EMD.
For example, if an offer says, “This contract is contingent upon a home inspection,” the buyer has a set number of days after the offer is accepted to do an inspection of the property with a licensed or certified home inspector.
If something is wrong with the house, the buyer can request the seller to make repairs. But most repairs are negotiable; the seller may agree to some, but say no to others. Or the seller can offer a price reduction, or a credit at closing, based on the cost of the repairs. This is where your real estate agent can offer real value and counsel on what you should ask the seller to fix.
Just remember to keep your eye on the big picture. If you and the seller are bickering over a $500 repair to the hardwood floors, keep in mind that’s a drop in the bucket in relation to the size of the bid.
In addition to the aforementioned home inspection contingency, other common contingencies include:

A financing contingency, which gives home buyers a specified amount of time to get a loan that will cover the mortgage.
An appraisal contingency, where a third-party appraiser hired by the lender evaluates the fair-market value of the home to ensure the home is worth enough money to serve as collateral for the value of the mortgage.
A clear title contingency, where the buyer’s title company verifies that the seller is the sole owner of the property and can legally convey ownership to the buyer.
A home sale contingency, where the transaction is dependent on the sale of the buyer’s current home.

Although contingencies can offer protection to buyers, they can also make offers less appealing to the seller because they give buyers legal ways to back out of the sale without any financial repercussions. So, if you’re going up against multiple offers, making an offer with fewer contingencies can potentially give you an edge over the competition.
In other words: A chill offer is an attractive offer. But keep in mind you have to be comfortable with the risks that come with this strategy. If you don’t have a financing contingency, for example, and you can’t get a mortgage, you’d likely lose your earnest money deposit since you’re on the hook. (An outcome that’s decidedly un-chill for you.)

#7 Read the Fine Print About the Property

The sales contract states key information about the property, such as the address, tax ID, and the types of utilities: public water or private well, gas or electric heating, and so on. It also includes a section that specifies what personal property and fixtures the seller agrees to leave behind, like appliances, lighting fixtures, and window shades. The seller provides prospective buyers with a list of these items before they submit an offer. This can be another area of negotiation.
Carefully reviewing the property description also helps you know, for example, if the seller plans to take that unattached kitchen island with them when they move. (Stranger things have happened.)

#8 Make a Date to Settle

The sales contract you submit to the seller must include a proposed settlement date, which confirms when the transaction will be finalized. The clock starts as soon as the purchase agreement is signed. If you don’t close on time, the party that’s responsible for the delay may have to pay the other party compensation in the form of “penalty interest” at a predetermined rate.
A 30- to 60-day settlement period is common because it gives the typical home buyer time to complete a title search and obtain mortgage approval, but settlement periods can vary. Some sellers, for example, prefer a longer period so they have more time to move or look for their next house. Being flexible, with respect to the closing date, could give you more negotiating power in another area of the deal.
One thing that’s the same no matter where you live is that you’ll have a three-day period prior to settlement to review the Closing Disclosure, or CD — a five-page form that states your final loan terms and closing costs.
Once the sales contract is signed, the parties can change the settlement date if they both sign an addendum specifying the new day.

#9 Write a Fan Letter to the Seller

Want to make a truly compelling offer? Pull on the seller’s heartstrings by attaching a personal letter to the bid documents. Tell a compelling story about your family and your connection to the area. Get deep about your roots.
Also, sincere flattery can go a long way. Compliment the seller on how their kitchen renovation looks Apartment Therapy–worthy, for instance, or how the succulents in their landscaping remind you of a resort in Palm Springs.
Your agent can help you gather background on the sellers (e.g., are they crazy about their labradoodle, like you are about yours? Did they run a small business from the home, like you dream of doing?). And you should — of course — refer to information you gleaned during the open house or private showing. Use this intel to write a message that really speaks to the seller, and it may very well seal the deal.

#10 Brace Yourself for a Counteroffer

If you’re making a lowball bid or going up against multiple offers, the seller may decide to make you a counteroffer — a purchase agreement with new terms, such as a higher sales price or fewer contingencies.
At that point, it’s up to you to accept the new contract, make your own counteroffer to the sellers, or walk away.
Don’t panic: The next part of our guide walks you through the counteroffer process, and it offers strategies to give you more negotiating power.

The Everything Guide to Selling Your First Home

noreply@blogger.com (Dmitry Vikhter) — Tue, 26 Mar 2019 16:02:00 +0000

Sold.

The Everything Guide to Selling Your First Home

By HouseLogic
How to figure out exactly what you want, and how to work with the experts who’ll help you get it.

Selling, a famous salesman once said, is essentially a transfer of feelings.
You love and cherish your home. You want the next owner to fall in love with it, too — through photos, through words, and through the experience of walking through your front door. But, perhaps most, you want to get the price you want.
This isn’t a small task. Selling a home requires work. It requires time. The journey isn’t always easy. There will be frustrations. But when you seal the deal and move on to your next chapter — wow, what a blissful, boss feeling.
Below, we preview and link to each step in your journey. We’ll discuss how to know what you want (and what your partner wants, if you’re selling together). How to understand the market, and ways to make a plan. And most importantly? How to create relationships with experts and trust them to help you get the job done.
Now, let’s talk about selling your house.
Jump to a specific home selling step using these links:
Know What You Want | Do Your Research | Interview and Select an Agent | Price Your Home | Prep Your Home for Sale | Market Your Home | Showcase Your Home | Receive Offers | Negotiate With the Buyer | Negotiate Home Inspection Repairs | Close the Sale

Know, Exactly, What You Want

First things first: You need to know what you want (and what your partner wants) in order to sell your home with minimum frustration. Why are you moving? What do you expect from the process? When, exactly, should you put that For Sale sign in the yard? We can help you get your thoughts in order with this home selling worksheet.

Do Your Research

Unless you bought your home last week, the housing market changed since you became a homeowner. Mortgage rates fluctuate, inventory shifts over time — these are just a few of the factors that affect the state of the market, and every market is unique. Educate yourself on what to expect. Start with our study guide on the market.
Related Topic: Sell a Home: Step-by-Step

Interview and Select an Agent

This is the most important relationship you’ll form on your home selling journey. Pick the right agent and you’ll likely get a better sales price for your house. Here’s how to find and select the expert who’s right for you.

Price Your Home

How much is your home worth? That’s the … $300,000 question. Whatever the number, you need to know it. This is how your agent will help you pinpoint the price.

Prep Your Home for Sale

Today, home buyers have unfettered access to property listings online, so you have to make a great first impression — on the internet and IRL. That means you’ll have to declutter all the stuff you’ve accumulated over the years, make any necessary repairs, and get your home in swoon-worthy condition. Here’s how to stage your home.

Market Your Home

Home buyers look at countless listings online. The best-marketed homes have beautiful photos and compelling property descriptions, so they can get likes — which can amount to buyer interest — on social media. Some agents are even using videos, virtual tours, texts, and audio messages. It’s time to consider how to promote your property.

Showcase Your Home

One of the best ways to get buyers in the door is to have an open house. This is your chance to show off your home’s best assets, and help buyers envision themselves living there. Know how your agent will organize, advertise, and host the event to ensure it’s a success.

Receive Offers

Yes, you might get offers plural, depending on your market. Assuming you’ve collaborated with your agent, you’ve likely positioned yourself to receive attractive bids. Your agent will review each offer with you to determine which is best for you. (Read: The offer price isn’t the only factor to consider: Here’s why.)

Negotiate With the Buyer

To get the best deal for you, you’ll likely have to do some negotiating. Your agent will help you craft a strategic counteroffer to the buyer’s offer, factoring in not only money, but contingencies, etc. Let’s talk about how to ask for what you want.

Negotiate Home Inspection Repairs

Ah, the home inspection. It’s as much a source of anxiety for buyers as it is for sellers. Nonetheless, most purchase agreements are contingent on a home inspection (plus an appraisal, which will be managed by the buyer’s lender). This gives the buyer the ability to inspect the home from top to bottom and request repairs — some even could be required per building codes. The upshot: You have some room to negotiate, including about certain repairs. Once again, your agent will be there to help you effectively communicate with the buyer.

Close the Sale

Settlement, or closing, is the last step in the home selling process. This is where you sign the final paperwork, make this whole thing official, and collect your check. Before that can happen though, you’ll have to prepare your home for the buyer’s final walk-through and troubleshoot any last-minute issues. We’ve got you covered with this closing checklist.

monthly updates: global buyers in America

noreply@blogger.com (Dmitry Vikhter) — Fri, 22 Mar 2019 15:10:00 +0000

Where are Global Buyers Searching in the United States?

The default view in the above graphic shows the Top 10 Markets for International Traffic. This is based on the realtor.com® international demand index, and shows the top U.S. metropolitan areas more likely to be searched by international consumers on realtor.com®. This type of index is often used by marketers to understand which markets offer the most reach.

8 Simple Rules for Negotiating Your Offer and Getting That House

noreply@blogger.com (Dmitry Vikhter) — Thu, 21 Mar 2019 20:19:00 +0000

Getting That House.

8 Simple Rules for Negotiating Your Offer and Getting That House

By: HouseLogic

You and your agent are going to use everything you’ve learned to seal the deal.

Here’s the dream: Your offer is perfect, you don’t need to negotiate, and you can spend the next few weeks addressing more pressing home-ownership questions, like “Why is it called wainscoting?” and “Do I want a new couch in blush or emerald green?”

And it could happen. Many sellers accept the best offer they receive, and for a variety of reasons.

But sellers are also known to reject offers for a variety of reasons. Or make counteroffers. This is especially likely if you bid low, or when you’re up against multiple competing offers.

If you do receive a counteroffer, it’s up to you to decide whether you want to accept the new contract, negotiate the terms, or walk away.

In cases such as these, look to your agent. He or she is your spirit guide. If you decide you want to negotiate — that is, make a counteroffer to the seller’s counteroffer — your agent will use their negotiating skills to help get you the best deal. This is what agents do every day.

But you’re not just going to sit there. If you understand what negotiating tactics your agent may deploy — they depend on the local market and your position — you can back them up. And cheer them on.

Here are eight rules every buyer should know before they — and their agent — start negotiating:

#1 Act Fast — Like, Now

When you receive a counteroffer, you should respond quickly — ideally within 24 hours. The longer you wait, the more space you leave for another buyer to swoop in and nab the property. Also? If a seller senses hesitation, they may decide to withdraw their counteroffer before you even have a chance to respond.

#2 Raise Your Price (Within Reason)

While you obviously don’t want to overpay for a house, you may have to up the ante — especially if you initially made a lowball offer. Lean on your agent’s expertise to determine how much money you should add to the {{ start_tip 83 }}sales price{{ end_tip }} to make it more enticing to the seller.

Then, through their powers of persuasion, your agent can make the counteroffer look even more attractive by pointing out similarly priced “comps” — recently sold homes in your area that are comparable in terms of square footage and features.

As your agent negotiates, it can feel like things are escalating quickly. It’s stressful. You may feel a sudden urge to do whatever it takes to win.

Before you go overboard, there are two things you must keep in mind:

You can’t exceed the monetary confines of the pre-approved mortgage you received from your lender.
You shouldn’t overextend your budget.

Because your counteroffer has to be an amount you’re comfortable spending on a home. You want that new house and to keep living your life. Plus: You’re not out of options yet.
Explore More Topics:
What Does "Closing" Mean
Before You Choose a Mortgage Lender, Read These Tips

#3 Increase Your Earnest Money Deposit

Increasing your earnest money deposit (EMD) — the sum of money you put down to prove to the seller you’re serious (i.e., “earnest”) about buying the house — is another way to show the seller you have more skin in the game. A standard EMD is typically 1% to 3% of the sales price of the home. Making a counteroffer with a 3% to 4% deposit could be what you need to persuade the seller to side with you.

#4 Demonstrate Patience About Taking Possession

Depending on the seller’s timetable, changing your proposed possession date — the date you take over the property — could butter them up, too. If the seller wants to stay in the home for a few days after closing, try offering a later possession date. You could also draw up a “rent-back” agreement, meaning the seller pays you rent for staying in the home for a set period of time after the closing date.

#5 Let Go of a Few Contingencies — With Care

Want to give your counteroffer an even bigger boost?
Reduce the number of contingencies you’re asking for. It’s your way of saying, “Hey, look, I have fewer ways to back out,” which gives the seller more reassurance that the deal will close.
But be selective: Some contingencies are too important to give up. A home-inspection contingency — the right to have a home inspection and request repairs — gives you an out if you spot major problems with the home (and protects you from buying a total money pit).
You might waive a termite inspection if you’re in a state where the risk is lower.
But ultimately, waiving contingencies depends on your market, your loan program requirements, your risk tolerance, and the circumstances of the house in question. And if you waive contingencies and then you find a problem, the seller isn’t responsible for fixing it.

#6 Ask for Fewer Concessions

At a mortgage settlement, home buyers have to pay closing costs for taxes, lender’s fees, and title company fees. Closing costs vary by location, but you can expect to shell out between 3% and 4% of the home’s sales price. The seller pays an additional 1% to 3%. (Smart Asset and Nerdwallet have simple calculators you can use to get a rough idea of what your closing costs might be.)
When making an initial offer, you have the option to ask the seller for concessions — a settlement paid in cash to help you offset your share of the closing costs. (This move is less feasible if you’re going up against multiple offers.)
Concessions effectively lower the seller’s net proceeds from the sale. Making a counteroffer that removes the concessions you would have otherwise received at settlement puts cash back in the seller’s pocket — and can improve your bid.

#7 Pick Up the Cost of the Home Warranty

Sometimes sellers offer prospective buyers a home warranty. This is a plan that covers the cost of repairing major home appliances and systems, like the air conditioner or hot water heater, if they break down within a certain period (typically a year after closing).
A basic home warranty costs about $300 to $600 a year, according to Angie’s List. If it seems like waiving the home warranty can sweeten negotiations, but you still want the peace of mind of having one, tell the seller they don’t need to cover it — then buy it yourself.
Just keep in mind, whether you or the seller buy the warranty, you’ll need to pay the service fee (typically between $50 and $100) if something does, indeed, need to be repaired while under warranty.
Also, FYI: A home warranty is entirely separate from homeowners insurance. Homeowners insurance — the security blanket that covers your home's structure and possessions in the event of a fire, storm, flood, or other accident — is required if you take out a mortgage. It can cost anywhere from $300 to $1,000 per year.

#8 Know When to Walk

When negotiating with a seller, trust your gut — and your agent. If he or she says a deal is bad for you: Listen.

And if you don’t want to make any more trade-offs — and the seller won’t budge — it’s smart to walk. That can be a tough decision to make, and rightfully so! Negotiating is tough. It’s draining.

And losing something you’ve worked hard to get can be disappointing. But don’t worry. There’s a better deal for you out there. And after those strong feelings of frustration pass, you’ll realize: Now I know how to do this.

What You Should Really Know About Browsing for Homes Online

noreply@blogger.com (Dmitry Vikhter) — Tue, 18 Dec 2018 00:16:00 +0000

What You Should Really Know About Browsing for Homes Online

What You Should Really Know About Browsing for Homes Online.

Article From HouseLogic.com

By: HouseLogic
Published: February 27, 2018

It's fun! It's exciting! It's important to take everything with a grain of salt!

Oh, let's just admit it, shall we? Browsing for homes online is a window shopper's Shangri-La. The elegantly decorated rooms, the sculpted gardens, the colorful front doors that just pop with those "come hither" hues.

Browser beware, though: Those listings may be seductive, but they might not be giving you the complete picture.

That perfect split-level ranch? Might be too close to a loud, traffic-choked street. That handsome colonial with the light-filled photos? Might be hiding some super icky plumbing problems. That attractively priced condo? Might not actually be for sale. Imagine your despair when, after driving across town to see your dream home, you realize it was sold.

So let's practice some self-care, shall we, and set our expectations appropriately.

Step one, fill out our home buyer's worksheet. The worksheet helps you understand what you're looking for.
Step two, with that worksheet and knowledge in hand, start browsing for homes. As you do, keep in mind exactly what that tool can, and can't, do. Here's how.

You Keep Current. Your Property Site Should, Too

First things first: You wouldn't read last month's Vanity Fair for the latest cafe society gossip, right? So you shouldn't browse property sites that show old listings.

Get the latest listings from realtor.com?, which pulls its information every 15 minutes from the start_tip 71 Multiple Listing Service (MLS), end_tip regional databases where real estate agents post listings for sale. That means that realtor.com's listings are more accurate than some others, like Zillow and Trulia, which may update less often. You wouldn't want to get your heart a flutter for a house that's already off the market.

BTW, there are other property listing sites as well, including Redfin, which is a brokerage and therefore also relies on relationships with brokers and MLSs for listings.

The Best Properties Aren't Always the Best Looking

A picture, they say, is worth a thousand words. But what they don't say is a picture can also hide a thousand cracked floorboards, busted boilers, and leaky pipes. So while it's natural to focus on photos while browsing, make sure to also consider the property description and other key features.

Each realtor.com? listing, for example, has a "property details" section that may specify important information such as the year the home was built, price per square foot, and how many days the property has been on the market.

Ultimately though, ask your real estate agent to help you interpret what you find. The best agents have hyper-local knowledge of the market and may even know details and histories of some properties. If a listing seems too good to be true, your agent will likely know why.

At the end of the day, property sites are like CliffsNotes for a neighborhood: They show you active listings, sold properties, home prices, and sales histories. All that data will give you a working knowledge, but it won't be exhaustive.

To assess all of this information -- and gather facts about any home you're eyeing, like how far the local elementary school is from the house or where the closest Soul Cycle is -- talk to your real estate agent. An agent who can paint a picture of the neighborhood is an asset.

An agent who can go beyond that and deliver the dish on specific properties is a true friend indeed, more likely to guide you away from homes with hidden problems, and more likely to save you the time of visiting a random listing (when you could otherwise be in the park playing with your canine bestie).

Want to go deeper? Consider these sites and sources:

School ratings: Data from GreatSchools.org the National Center for Education Statistics, and the school district's website
Crime rates and statistics: CrimeReports.com, NeighborhoodScout.com, SpotCrime.com, and the local police station
Walkability and public transportation: WalkScore.com and APTA.com
Hospital ratings: HealthInsight.org, LeapfrogGroup.org, and U.S. News and World Report rankings

Just remember: You're probably not going to find that "perfect home" while browsing listings on your smartphone. Instead, consider the online shopping experience to be an amuse-bouche to the home-buying entree -- a good way for you to get a taste of the different types of homes that are available and a general idea of what else is out there.

Once you've spent that time online, you'll be ready to share what you've learned with an agent.

Exporting to Asia Just Became Easier: New Events Launched to Help U.S. Firms Succeed in the Indo-Pacific Region

noreply@blogger.com (Dmitry Vikhter) — Wed, 01 Aug 2018 13:44:00 +0000

New Events Launched to Help U.S. Firms Succeed in the Indo-Pacific Region.

Exporting to Asia Just Became Easier: New Events Launched to Help U.S. Firms Succeed in the Indo-Pacific Region

why relocate to chicago

noreply@blogger.com (Dmitry Vikhter) — Thu, 07 Jun 2018 20:35:00 +0000

Why relocate to Chicago?

N LaSalle St.Chicago, IL 60601

CHICAGO - A WORLD CLASS INTERNATIONAL CITY:

The largest industrial hub in Midwest America
The largest educational hub in America
A diverse international student population in all schools
Internship and paid internship opportunities for college students
Great place for continuing education, research and professional development
Top healthcare facilities, hospitals and service providers
Unlimited business opportunities and business development
36 Fortune 500 Companies in the Chicago Loop, Northwest and West Suburbs
Convenient CTA and Train Metra commuter railroad serving all suburbs
77 diverse neighborhood communities
A diverse population from over 140 countries
Multilingual and multicultural professionals and licensed service providers
Multicultural business owners and investors in all industries
Unlimited opportunities in real estate, real estate lease, commercial lease, residential lease, property management, new development, RIO foreclosed properties, luxury properties, new homes and much more ..