Buying Real Estate in America.

Serving international home buyers in Chicago

2020-09-11T12:53:00.004-05:00

Relocating to Chicago. Student, contractor, employee, or family relocation.

Relocating to Chicago.

We can help in every step in your real estate transaction.

In the world of real estate, buyers have many different reasons for crossing borders.

Whether you are looking for a vacation home, seeking investment properties, or relocating for a job or an educational opportunity, the United States real estate market has a lot to offer. In comparison to many markets worldwide, real estate in the

United States is viewed as an affordable, accessible, and secure investment. There is tremendous opportunity for foreign buyers, but only if you know how to find and access it.

International students in Chicago: Helping students and families to buy a home:

The University of Chicago, DePaul University, Loyola University Chicago, Northeastern Illinois University, Roosevelt University Chicago, Northwestern University vendor, University of Illinois at Chicago vendor.

Buying multifamily or multi unit properties :

Type of homes in Chicago Metro to buy: single family home, condominium, townhouse, duplex, 2-4 level or 4-6 unit multifamily homes with rental-investment opportunities, new construction, luxury condominium in Chicago and suburbs.. more details

How to find the perfect home?

The first step to purchasing a property in the United States is to contact a reliable and educated global real estate professional. Because the protocol of buying and selling real estate differs from country to country, international real estate transactions can be complicated. From currency issues and financing to U.S. visa and tax laws, to contracts, duties, and titles, there is a lot that you need to know before you purchase property in the United States. Please use our International Home Buyer Application 2020-2021

International Buyer Form

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Coronavirus Mortgage Relief: What You Need To Know

2020-05-29T11:42:00.000-05:00

Coronavirus Mortgage Relief: What You Need To Know

By: Leanne Potts

Published: April 7, 2020

It’s a confusing time, but lenders are putting remedies, like forbearance, in place to help homeowners.

Mortgage lenders, and the federal agencies that regulate lenders, are putting coronavirus mortgage relief measures in place to ensure homeowners have options if they’re unable to make payments.
Your first stop in the face of financial hardship is your lender or bank.
Just keep in mind lenders are working to figure out and implement the new mortgage relief polices outlined by the regulatory agencies. So you might read one thing from the FHFA, a federal regulator, but your bank might be doing something else.
In addition, due to the number of homeowners affected by the pandemic, lenders are dealing with a crush of calls and online queries. Be patient, persistent, and prepared to spend time on hold.
Here are the resources you need now.

Your Mortgage

Federally Backed Mortgages
If you have a mortgage backed by Federal Housing Administration (FHA), Veteran’s Administration (VA), United States Department of Agriculture (USDA), Fannie Mae, or Freddie Mac, your loan servicer must offer you deferred or reduced mortgage payment options – called forbearance — for up to six months. This means you don’t have to pay your mortgage and you won’t be charged late fees, penalties, or interest while you can’t pay.
Loan servicers for FHA, Freddie, and Fannie must provide an additional six months of forbearance if you request it.
Not sure who backs your own loan? Fannie Mae and Freddie Mac have loan look-up sites where you can find out who owns it, and how to get in touch with them.

In addition, here are direct links to some lenders and banks’ Covid-19 resources:

Ally
BNC National Bank
Bank of America
Better.com
Caliber Home Loans
Capital One
Chase
Citibank
Navy Federal
PHH
PNC
Quicken Loans
Truist (formerly BB&T and Suntrust)
U.S. Bank
Wells Fargo

Mortgages Not Federally Backed
If your mortgage is one of the 5 million in the United States not backed by a federal entity, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which includes a coronavirus mortgage relief mandate, doesn’t apply. But regulators have encouraged those lenders to work with borrowers who can’t pay their mortgages, and most banks and other lenders are suspending mortgage payments or offering forbearance.
The level of relief you get will depend on who owns your loan. Contact your lender to find out what’s available.

Regardless of the type of loan you have, you must apply for coronavirus mortgage relief through their mortgage servicer. That’s the entity that collects your monthly payments and decides how long the assistance will last. When you reach your mortgage servicer, you’ll need to explain your situation and provide information about your income, expenses, and assets.
TIP: If you’re an at-risk homeowner, this downloadable PDF will help you understand the sources you can approach for help.

Foreclosure and Evictions

Federal officials have imposed a nationwide halt to foreclosures and evictions for more than 36 million Americans with home mortgages backed by the FHA, Fannie Mae, and Freddie Mac.
The moratorium only affects borrowers with mortgages backed by Fannie Mae, Freddie Mac, FHA, VA, and RHS (Rural Housing Service loans through the USDA). This doesn’t apply to the roughly 35% of mortgages held in bank portfolios and private label securities. But some individual lenders are offering relief.
Some cities, counties, and states, including Delaware, Indiana, Kansas, Louisiana, New Hampshire, North Carolina and Texas, have placed a moratorium on foreclosures. Check with your city, county, and state governments. Find state-by-state tallies online.

Housing Counselors

Another tool in your relief toolbox are housing counselors. Counselors can provide independent advice on buying a home, renting, defaults, foreclosures, and credit issues. The U.S. Department of Housing and Urban Development’s look-up tool lets you can find counselors in your state.

Your Credit

The CARES Act forbids lenders from dinging your credit score for missed payments on federally backed mortgages and student loans during your forbearance period. The federal government is also encouraging private lenders to suspend reporting late payments on eligible mortgages. The Consumer Financial Protection Bureau has more advice about protecting your credit.
To keep close tabs on your credit, you can now obtain a free credit report from each of the three credit bureaus, Experian, Equifax, and TransUnion, every week for the next year through April 20, 2020. The companies ratcheted up their once-a-year allowance to help consumers “protect their financial health during the sudden and unprecedented hardship caused by COVID-19.”
Get all three reports in one spot: annualcreditreport.com.

Your Student Loan

The CARES Act includes immediate relief for those who can’t make their monthly payments on federally held loans due to coronavirus. All loan payments (both principal and interest) are suspended through Sept. 30, 2020, with no penalty. You don’t need to apply for this program or contact your lender. It’s automatic.

If you keep making payments, they’ll be applied entirely toward the principal. These suspended payments will count towards any student loan forgiveness already in effect.

Here’s a list of servicers — and their phone numbers — for loans backed by the U.S. Department of Education.

Some loans under the Federal Family Education Loan (FFEL) program and some Perkins Loans not owned by the Department of Education aren’t eligible for suspended payments. Nor are private student loans owned by banks, credit unions, schools, or other private entities. If you can’t make payments, contact your loan servicer to find out what options are available. Many are offering ways, like forbearance, to postpone payments.

Not sure who your servicer is? Look on your most recent statement and contact the servicer immediately.
If your student loan is already in default, the relief act immediately suspends wage garnishments or tax refund deductions. They’ll resume after the suspension ends.
Find out more about student loan relief at the Consumer Financial Protection Bureau.

Your Taxes

The IRS has pushed back the deadline for filing and payment of federal taxes to July 15, 2020. Many states are following suit. Check with your state tax agency, or see this list from the American Institute of CPAs for details on deadlines.
Related: Tips to Get Filing Ready for (Delayed) Tax Deadline

Your Real Estate Transaction

If you’re going to be buying or selling a home in the near future, find out if your county recording office can complete the deal online.
In addition, more than half of states, many under emergency state directive, allow for remote online notarization of documents. This makes it safe and easy to complete real estate transactions under social distancing orders. The number of states allowing remote notarization could grow as pandemic legislation expands.

Your Appraisal

Fannie Mae and Freddie Mac have provided detailed appraisal alternative guidelines, so homeowners and appraisers can practice social distancing on Freddie and Fannie loans through May 17, 2020.
FHA, VA, and RHS are also allowing variations on the usual appraisal protocol. Check with your servicer for details.

Look Out For Scams

Fear breeds scams. And scammers are out in full force during the pandemic. Beware of third parties offering mortgage assistance and other help. Seek help from your lender directly.
For information on circulating scams, and guidance on identifying them, visit the Federal Trade Commission website.
With additional reporting by Christina Hoffmann

How to Disinfect Your Home in the Time of Coronavirus

2020-05-22T11:37:00.000-05:00

How to Disinfect Your Home in the Time of Coronavirus

By: Christina Hoffmann

Published: March 17, 2020

A bleach solution or rubbing alcohol is your best bet for keeping your home sanitized.

There’s everyday clean, guest clean, and then there’s COVID-19 clean.
To get down the absolute nitty gritty on how to disinfect your home, you’ll want your big guns: bleach, rubbing alcohol, and hot water.

The Best Disinfectants

For your high-touch surfaces, the Centers for Disease Control recommends a bleach solution diluted with water, or a 70% alcohol solution.
Follow this bleach recipe: 5 tablespoons (1/3 cup) bleach per gallon of water, or 4 teaspoons of bleach per quart of water.
Make sure to properly ventilate when disinfecting with bleach.
And check to see if your bleach has expired. Who knew it could? After about 9 months to a year, and if it smells less bleachy, it’s lost its disinfecting power. Time for a new jug.
Tip: Don’t mix bleach with anything other than water; otherwise, it could set off a dangerous chemical reaction. For instance, bleach + alcohol is a deadly combo.
How to disinfect your home if you don’t have bleach? Regular old rubbing alcohol (isopropyl alcohol or ethyl alcohol) works, so long as it’s at least 70% alcohol, according to the CDC. The alcohol concentration will be listed on the bottle. Rubbing alcohol you buy should already be diluted, unlike bleach.

Is There a Such a Thing as Too Much Disinfectant?

According to an EPA fact sheet, studies have found that using some disinfectant products can cause germs to become resistant.
The EPA has issued a list of disinfectants on the market that it believes are effective in killing COVID-19. Look for the EPA registration number on the product and check it against this list to ensure you have a match.
Erica Marie Hartman, an environmental microbiologist at Northwestern University in Evanston, Ill., whose research focuses on resistance, confirms soap, bleach, and alcohol are your best bets.
What about the various disinfecting wipes on the market (at least if you can find them)? Hartman says the active ingredient in many of those is an ammonium compound, which could become resistant to viruses over time.

Surfaces That Need Your Attention

With your preferred disinfectant, wipe down high-touch surfaces like doorknobs, light switches, tables, remotes, banisters, toilets, sinks, and faucets daily or more often, if someone in your home is sick.
Contact time is another key aspect of surface sanitizing. “Disinfection isn’t instantaneous,” says Hartman. [For a bleach solution], you want to leave it on the surface for 10 minutes before wiping it off. ”
By the way, new research from scientists at the National Institutes of Health, among other agencies, shows that at least some coronavirus can live for up to 24 hours on cardboard and up to three days on plastic and stainless steel.
But a report in “The Washington Post” notes that the most likely period for infection from the virus on surfaces is in the first 10 minutes to one or two hours.

Not All Floors Can Handle Bleach

For your nonporous floors, like those in the bathroom, the CDC recommends mopping with the bleach solution.
Avoid bleach on hardwood and other porous floors because of staining. Instead, use a disinfecting wet mop cloth without bleach.

Cleaning Isn’t Disinfecting

From the you-might-be-surprised files: Disinfecting with bleach isn’t actually cleaning. If you also need to clean your countertops of dirt and grime, do that first with soap and water. Then use the bleach solution or rubbing alcohol to combat the virus.

Killing Microbes on Clothes

Most washing machines today do a bang-up job on dirty clothes with cold water, which is best for energy savings. But, and especially if you have a sick person in your house, the hot-water setting followed by a high-heat dry for about a ½ hour to 45 minutes is best for virus eradication.
Don’t forget about your laundry hamper. Wipe it down like you would other surfaces. You can also use a reusable liner bag, which you can launder with the clothes.

What If I’m Selling My House, and Inviting More Germs In?

How to disinfect your home when it’s for sale? Virtual showings and tours are the ideal, and your agent can set those up.
However, if there’s a need to have someone come in, talk to your agent who will work with you to establish a hygienic protocol, including requiring visitors to wash hands with soap and water or use hand sanitizer when they arrive, and to remove shoes or wear booties before entering. Removing shoes not only reduces dirt coming in, but potentially germs.
In addition, many agents are eliminating open houses.
After any showings, practice your surface wipe-down routine.
Finally, when you work with disinfectants, practice some self care. “Alcohol and bleach can be very aggressive on your skin, so wearing rubber gloves can help protect your hands,” Hartman says.
Related: 9 Cleaning Tasks That Homeowners Tend to Overlook

10 Tricks for Hosting an Open House That Make Buyers Say “OMG, Wow!”

2020-05-19T11:29:00.001-05:00

10 Tricks for Hosting an Open House That Make Buyers Say “OMG, Wow!”

By: HouseLogic

Here’s what you can do to get your home ready for its big reveal.

Few words get home buyers more excited than these two: open house.
An open house is their opportunity to give your house a whirl. To wiggle the light switches. To admire the crown molding. To, y’know, awkwardly ask to use the bathroom. (Which, by the way, savvy buyers will totally do — because they’ll want to test how the water pressure holds up when they give the toilet a flush.)
For you, seller, an open house is a chance to throw open the doors. To dazzle buyers with the big reveal. To make someone fall head over heels for your charming abode.
These tricks can help you make your open house a massive hit.

1. Time It Right

Your agent will typically hold an open house for two to three hours between 11 a.m. and 5 p.m. on Saturdays and Sundays, when buyers have time and flexibility away from their jobs. To maximize your foot traffic, avoid having your open house during holidays, big community events (marathon days, for example), or unofficial “holidays” like Super Bowl Sunday.

2. Let Your Agent Take the Lead

In your own personal Open House Show, your real estate agent has two roles. To you, they are the director, giving you instructions on how to prepare for open house day, and what to do during the event. To buyers, your agent is the host. They will welcome viewers, introduce your home’s impressive features, and take questions from the audience.
Your job is to make your house look like a million bucks — or more like $300,000, depending on your price range. (Tips on cleaning and spiffing up your home in a moment.)
The job of your agent, an expert on your local real estate market and what makes buyers tick, is to take care of the rest. That will include:

Staging your home, or recommending a reputable stager that you can hire
Hosting the open house
Communicating with home buyers and buyers’ agents
Receiving feedback during the open house and communicating that feedback to you

Your agent will also recommend that, actually, you should probably leave while they show off your house to strangers, who will look under your sinks and peek into your closets. Why should you heed that advice? Because it makes good business sense for you.

A homeowner’s presence can make it awkward for the buyer. Buyers want to make assessments on their own, without worrying about how the seller might react or try to influence them.
Buyers may have trouble picturing themselves living in the house when the owner is right there, say, serving lemonade in the kitchen.
Sometimes sellers say too much. You might point out something that you think is a nice feature or amenity of your home, when it’s something that might turn off a buyer. (That busy arcade bar down the block may have been your favorite place to meet friends and play Pac-Man during weekends, but it could be a deal breaker for a buyer looking for a peaceful block.) You might blurt out something that could tip your negotiating hand, like how motivated you are to sell (soon!), or that you always wanted to update the retro kitchen — but just never got around to it.

The last things you want buyers to think after the open house is, “This place needs work,” or “This seller is desperate — I have the upper hand.” So, let your agent take the lead. This won’t be their first rodeo. They know the nuanced ways to show your home in its best light so that buyers will oooh and ahhh. They also know how to strategically answer questions from buyers to help set you up for success later, during negotiation.

Your agent can also stage a broker’s open house on your behalf. Unlike standard open houses — where buyers can stop by — at broker’s open houses, only real estate agents and other industry professionals are invited to attend. Generally, a broker’s open is held within the first few days of a house being put on the market. Complimentary lunch is often served as an incentive to get more people to show up.
There are two main benefits of having a broker’s open house:

It gives your listing more exposure.
It allows you to get feedback from real estate agents on your home.

If your house “shows well,” as they say in the industry, the agents who toured your home may recommend it to one (or more) of their buyer clients. If your home doesn’t get rave reviews, your agent will relay that feedback to you, and may suggest improvements before the next open house, such as staging certain rooms.

Related Topic: Sell a Home: Step-by-Step

3. Try Some Simple Staging

You want your home to look its best while it’s on the market — especially during the open house. Many agents say the best way to primp your home for its big day is to stage it.
Depending on what your agent recommends, staging may involve renting new furniture or decor for certain rooms in your home. There are also some easy staging tricks you can try on the day of your open house. Consider displaying a bouquet of fresh flowers in the entryway, setting your dining room table to make it look inviting, or turning on your outdoor sprinklers shortly before visitors arrive to make your lawn sparkle.

4. Clean Like Crazy

When your home is on the market, you need to keep it in showing shape — not only for the open house, but also for any scheduled showings with buyers. Even though you’ve already (hopefully) cleaned and organized your home for its listing photos, there’s a good chance you’ve let clutter or dust pile up again, especially if you have children or pets.
Make sure appliances, windows, and mirrors are fingerprint-free. Clean and organize your closets, cabinets, and under the sinks (during the open house, buyers are allowed to be nosy). Clear every bit of clutter and get rid of it or put it in storage.
Don’t have the bandwidth to do a deep clean? Hire a house cleaning service to do the work for you. A professional cleaning service costs around $115 to $230 on average. If you’re not sure about which service to hire, ask your agent to recommend cleaners.

5. Do a Smell Check

If buyers get a whiff of something funky, they’re going to run — not walk — out of your open house. A week prior to the open house, ask your agent or a neighbor to do an honest, no-holds-barred smell check. Some possible smell solutions:

If your house has the aroma of your beloved pet(s), deep clean the carpets, relocate the litter box, and take steps to eliminate all olfactory traces of Fluffy.
If the basement is dank and musty, buy a dehumidifier to remove air moisture and run a fan to circulate the air.
If the kitchen drain stinks, drop in a cup of baking soda, then two cups of white vinegar. Enjoy the bubbling, then let the mixture sit for 20 to 30 minutes. Finally run hot water for 15 to 30 seconds to flush the odor.

6. Put Your Pictures (and Valuables) Away

You want your home to feel cozy and inviting, but not like someone specific (you, for example) is living there. Personal belongings such as family photos, awards, and religious art can distract home buyers and make it harder for them to imagine themselves living in your home. You don’t have to go overboard — the idea isn’t to eliminate every trace of yourself — but consider temporarily hiding some pictures and personal effects out of sight during the open house.
There’s a safety element to stowing your personal belongings, too: Though your agent will be at the open house, you’re inviting strangers into your home.

Securely store checkbooks, jewelry, prescription medications, family heirlooms, and other valuables.
Alert your neighbors to your open house date — as a courtesy, but also to ask that they let you know if they notice any suspicious activity, in the unlikely event suspicious activity occurs.
Make sure your agent signs visitors in and asks them to show I.D., so that you have a record of who was in your house. (Bonus: With the sign-in sheet, your agent can follow up with buyers to find out if anyone is interested in making an offer.)
Lock windows and doors after the open house.

We’re not suggesting that visitors have any intention other than potentially buying your home. It’s just a good idea, generally speaking, to keep your home secure.

7. Let the Light In

Light doesn’t only (literally) brighten up your space. It also makes rooms look and feel larger. On open house day, open all curtains and blinds to let natural light in. (And in the week before the open house, make sure curtains and blinds are squeaky clean.)
Replace every single burnt-out light bulb in and outside the home — buyers should see a working light every time they flip a switch.

8. Give Your House Some Extra Curb Appeal

Buyers will judge your house on its outsides. So make last-minute improvements to turn up your home’s curb appeal. Cut the grass, prune the trees, and trim the shrubs. Touch up porch fixtures and furniture with a little paint. Heck, paint the whole porch, if your budget allows. Plant new shrubs or set out potted flowers.
Small, relatively low-budget outdoor enhancements will make your home look all the more enticing to buyers — and can add some last-minute value to its price.

9. Draw Attention to Your Home’s Best Features

After your agent signs in and welcomes buyers to your home, they typically will have some time to wander around on their own. Even though you won’t be there, you can still draw visitors’ attention to features in your home that you’d like to highlight.
Prior to the open house, post (friendly, aesthetically pleasing) signs around the house with calls to action such as, “look down, new hardwood floors,” or “gas fireplace, push this button.” Buyers will likely appreciate the help, and that they’re working with a conscientious seller.

10. Serve Refreshments

Serving warm cookies or freshly baked brownies at an open house is one of the oldest tricks in the book. That’s because it works: Buyers love being greeted with a sweet treat and a cold or warm beverage depending on the time of year. Refreshments also give people a reason to stay longer: No one will rush off because they’re hungry or thirsty.
Your agent may even have relationships with a local cafe or bakery, which might offer snacks for free advertising at the open house.

What to Do During and After the Open House

Once you’ve done everything you can to make your house look and feel amazing to buyers — and your agent is on site to assume their hosting duties — the time during your open house is yours to enjoy. Go to the park, get a three-course lunch, do whatever you like as long as you’re free to take calls.
Your agent may need to get in touch with questions, so make sure you’re available and have good cell phone reception. (A movie, for example, is not a great activity for you during the open house for that reason.)
After the open house ends, your agent will share with you what questions buyers asked and any comments they overheard by visitors. Buyers’ remarks will likely run the gamut, including some that could be negative. (“Why is the closet such a mess,” for example.)
The important thing is to stay open to buyers’ feedback, and to follow your agent’s advice about how to respond. Based on buyers’ reactions, your agent may recommend that you make certain repairs, do some painting, or invest in additional staging before your next open house. Whatever they advise, it’s not personal — it’s just the business of selling your home.

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

Where in the world is your dream house?

2019-10-23T12:58:00.005-05:00

Serving international home buyers.

Serving in the Chicago Metropolitan Area. Partnering nationwide and worldwide.

Where in the world is your dream house?

In the world of real estate, buyers have many different reasons for crossing borders.

Whether you are looking for a vacation home, seeking investment properties, or relocating for a job or an educational opportunity, the United States real estate market has a lot to offer. In comparison to many markets worldwide, real estate in the
The United States is viewed as an affordable, accessible, and secure investment. There is tremendous opportunity for foreign buyers, but only if you know how to find and access it.

The first step to purchasing a property in the United States is to contact a reliable and educated global real estate professional. Because the protocol of buying and selling real estate differs from country to country, international real estate transactions can be complicated. From currency issues and financing, to U.S. visa and tax laws, to contracts, duties, and titles, there is a lot that you need to know before you purchase property in the United States.

Contact our brokers offers@buyhomesamerica.com with the following information:

your email address, your full name, country/city location, phone/Skype
your U.S. visa, student visa, investor or traveler visa or other residency status
your intention to purchase, preferences, property type

Your information will be reviewed Please allow 48 hours to review your information.

Where in the world is your dream house?

To ensure a spam-free environment, kindly complete these forms. Your cooperation in filling out this online form is highly valued, especially for genuine home buyers

Home Buyers:

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FREE 13-Month Home Warranty sell a home

2019-05-21T11:17:00.002-05:00

FREE market analysis. FREE 13-Month Home Warranty.

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-coverage and services by HWA™ Home Warranty.

This offer is valid through 12/31/20. FREE 13-month home warranty terms.
Requires a signed listing agreement signed by seller and complete real estate transaction with Buy Homes America, Inc.

We market your property for maximum exposure, negotiate your price and secure your transaction.

Call or text message: (847) 401-8870
Email: dmitry@buyhomesamerica.com

Fill out secure Sell Your Home - Homeowner Application

Your Stress-Free Guide to Shopping for Home Loans

2019-04-12T17:02:00.000-05:00

Your Stress-Free Guide to Shopping for Home Loans

By: HouseLogic

With this super-simple breakdown of loan types, you won’t get overwhelmed — you’ll find the right mortgage. Mortgages, too, come in many styles — and recognizing which type you should choose is just slightly more involved than, say, knowing that you prefer hardwood floors over wall-to-wall carpeting.
First things first: To pick the best loan for your situation, you need to know what your situation is, exactly. Will you be staying in this home for years? Decades? Are you feeling financially comfortable? Are you anxious about changing loan rates? Consider these questions and your answers before you start talking to lenders. (And before you choose a lender, read this.)
Next: You’ll want to have an understanding of the different loans that are out there. There are lots of options, and it can get a little complicated — but you got this. Here we go.

Mortgages Are Fixed-Rate or Adjustable, and One Type Is Better for You

Let’s start with the most common type of mortgage, that workhorse of home loans — the fixed-rate mortgage.
A fixed-rate mortgage:

Lets you lock in an interest rate for 15 or 30 years. (You can get 20-year loans, too.) That means your monthly payment will stay the same over the life of the loan. (That said, your property taxes and insurance premiums will likely change over time.)

It’s ideal when: You want long-term stability and plan to stay put.
Here’s what else you need to know about fixed-rate mortgages:

A 30-year fixed-rate mortgage offers a lower monthly payment for the loan amount (for this reason, it’s more popular than the other option, the 15-year).
A 15-year fixed-rate mortgage typically offers a lower interest rate but a higher monthly payment because you’re paying off the loan amount faster.

Now let’s get into adjustable-rate, the other type of mortgage you’ll be looking at.
An adjustable-rate mortgage (ARM):

Offers a lower interest rate than a fixed-rate mortgage for an initial period of time — say, five or seven years — but the rate can fluctuate after the introductory period is over, depending on changes in interest rate conditions. And that can make it difficult to budget.
Has caps that protect how high the rate can go.

It’s ideal when: You plan to live in a home for a short time or you expect your income to go up to offset potentially higher future rates.
Here’s what else you need to know about adjustable-rate mortgages:

Different lenders may offer the same initial interest rate but different rate caps. It’s important to compare rate caps when shopping around for an ARM.
Adjustable-rate mortgages have a reputation for being complicated. As the Consumer Financial Protection Bureau advises, make sure to read the fine print.

A general rule of thumb: When comparing adjustable-rate loans, ask the prospective lender to calculate the highest payment you may ever have to make. You don’t want any surprises.

Conventional Loan or Government Loan? Your Life Answers the Question

Which fixed-rate or adjustable-rate mortgage you qualify for introduces a whole host of other categories, and they fall under two umbrellas: conventional loans and government loans.
Conventional loans:

Offer some of the most competitive interest rates, which means you’ll likely pay less in interest over the period of the loan.
Typically you can get one more quickly than a government loan because there’s less paperwork.

Who qualifies? Typically, you need at least a credit score of 620 or above and a 5% down payment to qualify for a conventional loan.
Here’s what else you need to know about conventional loans:

If you put less than 20% down for a conventional loan, you’ll be required to pay private mortgage insurance (PMI), an extra monthly fee designed to mitigate the risk to the lender that a borrower could default on a loan. (PMI ranges from about 0.3% to 1.15% of your home loan.) The upshot: The lender has to cancel PMI when you reach 22% equity in your home, and you can request to have it canceled once you hit 20% equity.
Most conventional loans also have a maximum 43% debt-to-income (DTI) ratio,which compares how much money you owe (on student loans, credit cards, car loans, and other debts) to your income — expressed as a percentage.

Fannie Mae and Freddie Mac set limits on how much money you can borrow for a conventional loan. A home loan that conforms to these limits is called a conforming loan:

In most cities, the maximum amount for a conforming loan is $453,100.
In high-cost areas, such as New York City and San Francisco, the limit is $679,650.
Limits are revisited annually and are subject to change based on each area’s average home price.

A home loan that exceeds these limits is called a jumbo loan:

Jumbo loans typically require a higher down payment (up to 30% for some lenders) and a credit score of at least 720. Some borrowers can qualify while putting down 20%, but their credit score has to be higher.
They also tend to have stricter debt-to-income requirements, generally allowing for a maximum DTI ratio of 38%.

There are practical considerations to take into account before getting a jumbo loan too, mainly: Are you comfortable carrying that much debt? The answer depends on your current financial situation and long-term financial goals.
Government loans:

Include loans secured by the Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture (USDA) Rural Development.
Are meant to stimulate the housing market and enable folks who may be unable to qualify for conventional loans to still become homeowners.

Who qualifies? That depends on which government loan you’re looking at.
If you’ve had trouble qualifying for a mortgage because of income limitations or credit:
FHA loans are used by a broad swath of people, including those with lower credit scores and income.

You can get an FHA loan with a downpayment of 3.5% if you have a minimum credit score of 580. You can still qualify with a credit score below 580 — even with no credit score — but the down payment and other requirements will be much higher.
FHA loans conform to loan limits set by county; these limits typically range from $294,515 to $679,650 in high-cost areas. You can view the FHA mortgage caps for your county at hud.gov.
If you get an FHA loan, you must pay an upfront mortgage insurance premium (MIP) and an annual premium of 0.85%. Currently, the MIP is 1.75% of the loan amount — so, $1,750 for a $100,000 loan. This premium can be paid upfront at the mortgage closing, or it can be rolled into the monthly mortgage payment.

Also, a heads-up — the date an FHA loan was issued affects the MIP.

If you received an FHA loan on or before June 3, 2013: You’re eligible for canceling MIP after five years, but you must have 22% equity in your home and have made all payments on time.
If you received an FHA loan after June 3, 2013: To stop paying MIP, you’d have to refinance into a conventional loan and have a current loan-to-value of at least 80%.

If you’re in the military, a veteran, or a veteran’s spouse:

VA loans offer active or retired military (or a veteran’s surviving spouse) a mortgage with a 0% down payment.
VA loans also can have more lenient credit requirements — typically around a minimum 620 credit score — and lower DTI requirements.
The VA only allows lenders to charge 1% maximum to cover the costs of originating and underwriting the loan, so you save money at closing. There is, however, an additional upfront, one-time funding fee of 2.15%.

VA loans also don’t charge borrowers mortgage insurance — potentially helping you save a significant chunk of cash on your monthly payment.
Given the benefits, a VA loan is often the best mortgage option for people who qualify.
If your income is limited and you live in a small or rural town:
USDA loans are mortgages for limited-income home buyers in towns with populations of 10,000 or less, or that are “rural in character,” meaning that some areas that now have bigger populations are grandfathered in. You can see whether your town is eligible on the USDA’s website.

USDA loans typically have lower interest rates than non-USDA loans.
Down payments can be as low as 0%.
USDA mortgages also have more lenient credit score requirements than conventional loans.
Income limits to qualify depend on location and household size.
USDA loans charge an upfront mortgage insurance fee of 1% of the loan amount and annual mortgage insurance premium of 0.35%.
And USDA loan borrowers must buy a “modest home” — a property with a market value deemed reasonable for the area, though the USDA does not set specific price limitations.

Only a select number of lenders offer USDA loans; here’s a list of USDA-approved lenders nationwide.
If your job is to help people:
Niche programs, like the Neighbor Next Door from HUD, allows teachers, law enforcement officers, first responders, and government workers — as much as 50% — on eligible homes in revitalization districts.
Note: Downpayment assistance programs offer qualified buyers such things as grants and interest-free loans. Start with your state’s housing finance agency to find options.

Now You Know the Basics. It’s Time to Call for Backup

Speaking of your lender: Ultimately, you’ll be working with your loan officer or broker to narrow down these choices, and to find a loan that works for you and your finances. (Just another reason why it’s important to choose a lender you’re comfortable with.)
Your real estate agent should be able to offer some insight, too. And because they don’t earn a paycheck from your loan selection, their advice about mortgages should be impartial.
You know your stuff. And you know whom to ask for help. Who’s overwhelmed? Not you.

What if the inspector finds something wrong?

2019-04-05T16:41:00.000-05:00

What if the inspector finds something wrong?

From finding an inspector to dealing with surprises — this is your guide to getting a house checked out.

The first thing you need to know about home inspection: You’ll feel all the feels.
There’s the excitement — the inspection could be the longest time you’re in the house, after the showing.
Right behind that comes … anxiety. What if the inspector finds something wrong? So wrong you can’t buy the house?
Then there’s impatience. Seriously, is this whole home-buying process over yet?
Not yet. But you’re close. So take a deep breath. Because the most important thing to know about home inspection: It’s just too good for you, as a buyer, to skip. Here’s why.

A Home Inspector Is Your Protector

An inspector helps you make sure a house isn’t hiding anything before you commit for the long haul. (Think about it this way: You wouldn’t even get coffee with a stranger without checking out their history.)
A home inspector identifies any reasonably discoverable problems with the house (a leaky roof, faulty plumbing, etc.). Hiring an inspector is you doing your due diligence. To find a good one (more on how to do that soon), it helps to have an understanding of what the typical home inspection entails.
An inspection is all about lists.
Before an inspection, the home inspector will review the seller’s property disclosure statement. (Each state has its own requirements for what sellers must disclose on these forms; some have stronger requirements than others.) The statement lists any flaws the seller is aware of that could negatively affect the home’s value.
The disclosure comes in the form of an outline, covering such things as:

Mold
Pest infestation
Roof leaks
Foundation damage
Other problems, depending on what your state mandates.

During the inspection, an inspector has three tasks -- to:

Identify problems with the house that he or she can see
Suggest fixes
Prepare a written report, usually with photos, noting observed defects

This report is critical to you and your agent — it’s what you’ll use to request repairs from the seller. (We’ll get into how you’ll do that in a minute, too.)

The Inspector Won’t Check Everything

Generally, inspectors only examine houses for problems that can be seen with the naked eye. They won’t be tearing down walls or using magical X-ray vision, to find hidden faults.
Inspectors also won’t put themselves in danger. If a roof is too high or steep, for example, they won’t climb up to check for missing or damaged shingles. They’ll use binoculars to examine it instead.
They can’t predict the future, either. While an inspector can give you a rough idea of how many more years that roof will hold up, he or she can’t tell you exactly when it will need to be replaced.
Finally, home inspectors are often generalists. A basic inspection doesn’t routinely include a thorough evaluation of:

Swimming pools
Wells
Septic systems
Structural engineering work
The ground beneath a home
Fireplaces and chimneys

When it comes to wood-burning fireplaces, for instance, most inspectors will open and close dampers to make sure they’re working, check chimneys for obstructions like birds’ nests, and note if they believe there’s reason to pursue a more thorough safety inspection.
If you’re concerned about the safety of a fireplace, you can hire a certified chimney inspector for about $125 to $325 per chimney; find one through the Chimney Safety Institute of America.
Explore More Topics:
Make an Offer & Negotiate
Buy a Home: Step-by-Step

It’s Your Job to Check the Inspector

Now you’re ready to connect with someone who’s a pro at doing all of the above. Here’s where — once again — your real estate agent has your back. He or she can recommend reputable home inspectors to you.
In addition to getting recommendations (friends and relatives are handy for those, too), you can rely on online resources such as the American Society of Home Inspectors' (ASHI) Find a Home Inspector tool, which lets you search by address, metro area, or neighborhood.
You’ll want to interview at least three inspectors before deciding whom to hire. During each chat, ask questions such as:

Are you licensed or certified? Inspector certifications vary, based on where you live. Not every state requires home inspectors to be licensed, and licenses can indicate different degrees of expertise. ASHI lists each state’s requirements here.
How long have you been in the business? Look for someone with at least five years of experience — it indicates more homes inspected.
How much do you charge? The average home inspection costs about $315. For condos and homes under 1,000 square feet, the average cost is $200. Homes over 2,000 square feet can run $400 or more. (Figures are according to HomeAdvisor.com.)
What do you check, exactly? Know what you’re getting for your money.
What don’t you check, specifically? Some home inspectors are more thorough than others.
How soon after the inspection will I receive my report? Home inspection contingencies require you to complete the inspection within a certain period of time after the offer is accepted — normally five to seven days — so you’re on a set timetable. A good home inspector will provide you with the report within 24 hours after the inspection.
May I see a sample report? This will help you gauge how detailed the inspector is and how he or she explains problems.

Sometimes you can find {{ start_tip 84 }}online reviews{{ end_tip }} of inspectors on sites like Angie’s List and Yelp, too, if past clients’ feedback is helpful in making your decision.

Show Up for Inspection (and Bring Your Agent)

It’s inspection day, and the honor of your — and your agent’s — presence is not required, but highly recommended. Even though you’ll receive a report summarizing the findings later on, being there gives you a chance to ask questions, and to learn the inner workings of the home.
Block out two to three hours for the inspection. The inspector will survey the property from top to bottom. This includes checking water pressure; leaks in the attic, plumbing, etc.; if door and window frames are straight (if not, it could be a sign of a structural issue); if electrical wiring is up to code; if smoke and carbon monoxide detectors are working; if appliances work properly. Outside, he or she will look at things like siding, fencing, and {{ start_tip 85 }}drainage.{{ end_tip }}
The inspector might also be able to check for termites, asbestos, lead paint, or radon. Because these tests involve more legwork and can require special certification, they come at an additional charge.

Get Ready to Negotiate

Once you receive the inspector’s report, review it with your agent.
Legally, sellers are required to make certain repairs. These can vary depending on location. Most sales contracts require the seller to fix:

Structural defects
Building code violations
Safety issues

Most home repairs, however, are negotiable. Be prepared to pick your battles: Minor issues, like a cracked switchplate or loose kitchen faucet, are easy and cheap to fix on your own. You don’t want to start nickel-and-diming the seller.
If there are major issues with the house, your agent can submit a formal request for repairs that includes a copy of the inspection report. Repair requests should be as specific as possible. For instance: Instead of saying “repair broken windows,” a request should say “replace broken window glass in master bathroom.”

If the seller agrees to make all of your repair requests: He or she must provide you with invoices from a licensed contractor stating that the repairs were made. Then it’s full steam ahead toward the sale.
If the seller responds to your repair requests with a counteroffer: He or she will state which repairs (or credits at closing) he or she is willing to make. The ball is in your court to either agree, counter the seller’s counteroffer, or void the transaction.

At the end of the day, remember to check in with yourself to see how you’re feeling about all of this. You need to be realistic about how much repair work you’d be taking on. At this point in the sale, there’s a lot of pressure from all parties to move into the close. But if you don’t feel comfortable, speak up.
The most important things to remember during the home inspection? Trust your inspector, trust your gut, and lean on your agent — they likely have a lot of experience to support your decision-making.
That’s something to feel good about.

The Everything Guide to Buying Your First Home

2019-03-21T15:01:00.001-05:00

The Everything Guide to Buying Your First Home

By: HouseLogic

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

So you’re thinking about buying your first home. Your very own house (and mortgage). A place to call — and make — your own.

It’s a big move, literally and figuratively. Buying a house requires a serious amount of money and time. The journey isn’t always easy. It isn’t always intuitive. But when you get the keys to your new home — that, friend, can be one of the most rewarding feelings pretty much ever.

The key to getting there? Knowing the home-buying journey. Knowing what tools are at your disposal. And most importantly? Creating relationships with experts who can help you get the job done.

That’s where this guide comes in. We’ll show you not only the major steps you’ll take during the home-buying process, but also explain the relationships and experts you’ll need along the way. We’ve even made a handy infographic that outlines the home-buying process from start to finish.
You ready to live the dream? Here we go.

Do Your Homework | Start Shopping | Find a Great Agent | Choose a Lender | Pick a Loan (It's Not So Bad) | Visit Open Houses, and Look Around | Make an Offer | Negotiate, Negotiate, Negotiate | Get the Place Inspected | Ace the Appraisal | Close the Deal

Do Your Homework

Oh sure, everybody wants to jump right into open houses. But before you even set foot into a foyer, you should identify your list of “musts” and “wants.” This list is an inventory of priorities for your search. And there’s so much to decide: Price, housing type, neighborhood, and school district — just to name a few.

To get yourself grounded, we recommend filling out this brief worksheet.

If you’re planning to buy a home with a partner (in life or in real estate), fill the worksheet out with them. You want to be on the same page while buying a house. If you’re not, you’ll be less able to give agents or lenders the information they need to help you. And you risk wasting time viewing homes you can’t afford — or don’t even want in the first place.

Start Shopping

Once you know what you’re looking for, the next step is to start looking at listings and housing information online. (This part? You’re going to crush it.)
Explore More Topics:
See All Steps to Buying a Home
Buy a Home: Step-by-Step

Find a Great Agent

Your relationship with your real estate agent is the foundation of the home-buying process. (And your agent = your rock.) He or she is the first expert you’ll meet on your journey, and the one you’ll rely on most. That’s why it’s important to interview agents and find the agent who’s right for your specific needs.

Choose a Lender

Once you’ve found your agent (AKA, your new best friend), ask him or her to recommend at least three mortgage lenders that meet your financial needs. This is another big step, as you’ll be working with your lender closely throughout the home-buying process.

Pick a Loan (It’s Not So Bad)

Once you’ve decided on a lender (or mortgage broker), you’ll work with your loan agent to determine which mortgage is right for you. You’ll consider the percentage of your income you want to spend on your new house, and you’ll provide the lender with paperwork showing proof of income, employment status, and other important financials. If all goes well (fingers crossed) you’ll be pre-approved for a loan at a certain amount. (Sweet.)

Visit Open Houses, and Look Around

Now that you have both an agent who knows your housing preferences and a budget — and a lender to finance a house within that budget — it’s time to get serious about viewing homes. Your agent will provide listings you may like based on your parameters (price range, ZIP codes, features), and will also help you determine the quality of listings you find online. Then comes the fun part: Open houses and private showings, which give you the unique opportunity to evaluate properties in a way you can’t online.

Make an Offer

Once you find the home you want to buy, you’ll work with your agent to craft an offer that not only specifies the price you’re willing to pay but also the proposed settlement date and contingencies — other conditions that must be agreed upon by both parties, such as giving you the ability to do a home inspection and request repairs.

Negotiate, Negotiate, Negotiate

Making an offer can feel like an emotional precipice, almost like asking someone out on a date. Do they like me? Am I good enough? Will they say yes? It’s stressful! Some home sellers simply accept the best offer they receive, but many sellers make a counteroffer. If that happens, it’s up to you to decide whether you want your agent to negotiate with the seller or walk away. This is an area where your agent can provide real value by using their expert negotiating skills to haggle on your behalf and nab you the best deal.

Get the Place Inspected

If your offer is accepted, then you’ll sign a contract. Most sales contracts include a home inspection contingency, which means you’ll hire a licensed or certified home inspector to inspect the home for needed repairs, and then ask the seller to have those repairs made. This mitigates your risk of buying a house that has major issues lurking beneath the surface, like mold or cracks in the foundation. (No one wants that.) Here’s what to expect.

Ace the Appraisal

When you offer to buy a home, your lender will need to have the home appraised to make sure the property value is enough to cover the mortgage. If the home appraises close to the agreed-upon purchase price, you're one step closer to settlement — but a low appraisal can add a wrinkle. Not one you can’t deal with. Here’s how to prepare.

Close the Deal

The last stage of the home-buying process is settlement, or closing. This is when you sign the final ownership and insurance paperwork and make this whole thing official. There’s some prep work you have to take care of first.
When it’s all said and done — break out the rosé. You’ll have the keys to your new home!

How you’ll know you’ve found the right agent?

2018-12-17T19:16:00.001-06:00

How you’ll know you’ve found the right agent?

Article From HouseLogic.com

By: HouseLogic

A great real estate agent is like an Oprah for living your best real estate life.

For every journey, there is a guide. To explore the West, Lewis and Clark had Sacagawea. To navigate his magical powers, Harry Potter had Dumbledore. And to discover our best lives, America has Oprah. For every journey, there is a guide. To explore the West, Lewis and Clark had Sacagawea. To navigate his magical powers, Harry Potter had Dumbledore. And to discover our best lives, America has Oprah.

Then there's the all-too-real journey of buying a home. For that, you have an Oprah of your own: your real estate agent -- a licensed professional who's familiar with local home values and neighborhood perks, understands real estate trends, can write an offer on your behalf, and who negotiates with home sellers so you don't have to.

Think of your agent as a therapist/consultant for your home search. A collaborator. A co-conspirator. A mentor. Someone who amps up your confidence and counsels you through big decisions (teamwork makes the dream work, after all). And, someone who wants you to find a house you can be happy in because they're invested in your happiness.

If the housing market doesn't line up with your needs and budget, your agent will go back to the drawing board with you. They interpret raw housing data through the filter of your unique search, then tell you what's important and why. They help you map the path to your goal, and connect you with trusted experts who can get you into your dream home. (Cue selfie of you drinking wine in your new living room. First like on Instagram? Probably your agent.)

That's a lot of responsibility. And a lot of pressure. There's obviously a lot at stake: money and time, of course, but also your happiness. So reach out to an agent sooner in the process rather than later, and you'll be on the fast track to picking out paint swatches for your new kitchen.

Agents, Brokers, and REALTORS?: What's the Difference?

"Agent" is a catchall phrase that is used, in casual conversation, to describe the three types of professionals who buy and sell real estate: agents, brokers, and REALTORS?.

No, they're not really the same. Yes, you should care about what makes them different. Here's a breakdown:

A real estate agent is a licensed professional who helps people buy, sell, rent, or invest in homes. To become an agent, a person must take pre-licensing training from a certified institution (these vary from state to state) and pass their state's real estate licensing exam. Once they have their license, an agent must affiliate themselves with a real estate brokerage.

Some agents specialize in representing buyers, some specialize in representing sellers. Some do both. An agent who represents both the buyer and the seller in the same real estate transaction is called a dual agent. By law, a dual agent must disclose dual agency to both parties. (If an agent is seeing other people, you obviously need to know.)

A real estate broker is a professional who has additional education beyond the agent level, as required by state law, and who has passed a broker's exam. In some cases, brokers also have more years of experience than agents. The biggest difference between a broker and an agent is that a broker may work independently. An agent must be overseen by a broker.

A REALTOR? is a broker or agent who belongs to the National Association of REALTORS? (NAR), the largest trade group in the country. (Full disclosure: NAR publishes HouseLogic.com). A REALTOR? commits to following a strict Code of Ethics intended to protect buyers and sellers; for example, REALTORS? pledge themselves to protect and promote the interests of their client. Agents and brokers who are not NAR members can't call themselves REALTORS?. There are more than 1 million REALTORS? in the United States. You can use realtor.com?'s Find a REALTOR? tool to connect with one in your area.

In most cases, using an agent, broker, or REALTOR? won't cost you a penny because the seller typically pays both the listing agent and buyer's agent's commissions. However, some buyers' agents request a representation fee from the buyer. That's rare.

The Best Agent for You Depends on ... You

Before you seriously partner with anyone, you'll probably survey family, friends, and trusted acquaintances for at least some input. Finding a real estate agent is no different: A great starting point is to ask your inner circle and neighbors for recommendations. According to recent NAR research, 52% of buyers 36 and younger found their real estate agent through a referral.

Then there's the internet.

Each of the major property listing websites -- realtor.com?, Zillow, Redfin, and Trulia -- has an agent-finder tool that lets you search for agents in your area. These property sites also collect reviews and ratings from an agent's past clients, which gives you insight into an agent's reputation. Keep in mind, though, that the sites vary in their policies about whether agents can edit or remove reviews. (Like with Yelp, use your own discretion.)

The sites also show an agent's sales history, so you can see how many homes a person has sold. In general, it's best to choose an agent who has a large number of sales under his or her belt (a sign they're committed to real estate work). Perhaps even more important: an agent who has sold homes at the price point and in the neighborhood where you're looking to buy -- a sign they understand the local market.

Whatever you do, don't rely on online listings alone. Always interview prospective agents -- at least three -- in person. A meet-and-greet will give you the perspective you need on the agent's personality and style. Is this someone you'll like working with? Who has a sense of humor? Who has your back? Who communicates in the ways you want to be communicated with? Best to find out in person.

Explore More Topics:

Find an Agent & View Homes

Buy a Home: Step-by-Step

How to Know If An Agent Is Knowledgeable

Once you've gathered all the information, listen to your gut: It won't steer you wrong about who's the best agent for you.

But, that said, there are a few qualities you'll want to look for in any agent (your gut would agree):

Local expertise. Does this person know their stuff about neighborhood home value trends, shops and restaurants, schools, commute times, and geographic factors such as floodplains? These things are important, especially if you're looking for a home in a new city or town. If the agent seems lost or like they're winging it, keep looking.
Responsiveness. You'll have a lot of questions, and will be asked to produce documents at certain steps during the buying process. Think about how available you want your agent to be, and how quickly you want him or her to respond. One way to figure that out? Contact a prospective agent online or by phone and see how long it takes them to reply. If you don't hear back within a time frame that works for you, it's probably best to move on.
Reputation. This is when to consult your inner circle again. The agent-finder tool mentioned above can also help. In addition, you'll want to verify the agent's license; search "[state] real estate license lookup" to find a resource for your state. If you want to confirm whether an agent is a REALTOR?, you can call NAR at 1-800-874-6500.

There are a number of professional designations that indicate an agent has obtained additional education beyond their licensing work. An accredited buyer's representative (ABR?), for instance, is someone who specializes in working with home buyers and has taken a course on buyer-client relationships. You can search the different types of designations here.

Don't Be Afraid to Ask a Lot of Questions

Congratulations! You now have a list of agents you like based on their stats, and you're ready to get to know the finalists. Binge a few episodes of "The Bachelor" for pointers -- just kidding, don't do that.

What to really do: Schedule interviews with the top three agents, at least. During each conversation, your goal is to understand the agent's experience, personality, and working style.

Here are 13 questions that will help the vetting:

How many years have you been in the business?

Having more experience doesn't guarantee that someone is a great real estate agent, but a lot of the business is learned on the job.

How many homes have you sold in the last year?

Volume isn't the most important factor when choosing an agent, but you want someone who is active in the industry. Also, the more transactions an agent has under their belt, the more adept the person should be at solving complicated problems that can crop up during a home sale. Remember: Your transaction is unique.

How will you help me determine my needs and priorities?

The agent's first task is to help you identify your list of "musts" and "wants" -- the home features that you need, versus the features that you'd like to have but can live without.

Is your real estate license in good standing?

You can also check with your state's Real Estate Commission to confirm the agent has no disciplinary actions.

How will you stay in touch with me?

Your agent's communication style should align with yours. If you prefer to be contacted via text when new listings crop up, make sure your agent is able to do that.

What neighborhoods do you specialize in?

You want an agent who's intimately familiar with the neighborhood(s) you're interested in.

Another way of framing this question is to ask, "How many homes have you sold in this neighborhood in the last year?" What price range do you typically work in? In addition to being a neighborhood expert, your agent should do a large portion of their business with home buyers in your price range. It's important because challenges and negotiation strategies can vary based on what type of home you're buying. How many other clients are you working with? You want someone who can give you quality, start_tip 72 one-on-one customer service end_tip when you buy your first home. If the agent seems spread thin, it's probably because they are.

How are you a good agent for first-time buyers?

First-time home buyers face specific challenges. Every buyer has a unique transaction. Good agents can explain what you should expect and how they're going to help you navigate your special circumstances.

How will you find homes that match my criteria?

Seasoned real estate agents don't just use the local Multiple Listing Service (MLS) -- a regional database of registered property listings -- to help home buyers find homes. They also keep track of listings through colleagues, door-knocking, and canvassing neighborhoods to find the right properties for their buyers. They'll also work their industry connections.

Have you ever recommended that a buyer not buy a property? Why? An agent should work in your best interest, which means being honest with you about when to pass on a house that will not meet your needs -- even if you're starry-eyed about it. It's your choice, obvs, but they should empower you to make a sound decision.

Do you have a list of recommended vendors who can help me get a mortgage, inspect a home, and so on?

To buy a home, you're going to need other important players on your team -- specifically a mortgage lender, home inspector, settlement/title company, and attorney. An experienced agent has already developed relationships with reputable pros, and should provide you with several references for each; though it's ultimately your decision to choose who you want to work with.

Can you provide contact information for your three most recent buyers?

Past clients can offer valuable insight into an agent's skills. Don't just ask an agent for references, or you'll get three pre-vetted clients who are guaranteed to sing their praises. Instead, ask for phone numbers and email addresses of the agent's three most recent buyers. Contact those people directly to learn about their experiences.

Whew, you made it through the interviews. (Are you thirsty? We could use a glass of water.)

By now, there's likely one agent left standing. Someone you can trust. Someone who listens. Someone who knows more about real estate than you, but who also really cares about finding your house.

Now that you've got a partner in buying a home, it won't be long before you own it.

How to Buy Homes in America?

2018-01-03T14:37:00.000-06:00

How to Buy Homes in America?

The United States is a premiere residence and investment area for people from all around the world.

International students in Chicago: Helping students and families to buy a home.

Buying multifamily or multi unit properties :

Type of homes in Chicago Metro to buy: single family home, condominium, town house, duplex, 2-4 level or 4-6 unit multifamily homes with rental-investment opportunities, new construction, luxury condominium in Chicago and suburbs.. more details

How to to find the perfect home?

The first step to purchasing a property in the United States is to contact a reliable and educated global real estate professional. Because the protocol of buying and selling real estate differs from country to country, international real estate transactions can be complicated. From currency issues and financing, to U.S. visa and tax laws, to contracts, duties and titles, there is a lot that you need know before you purchase property in the United States. Please use our International Home Buyer Application 2018

Resources	Links
Currency Converter by OANDA	OANDA (currency & money transfer)

Representing You

2017-12-01T16:33:00.001-06:00

Representing Home Buyers

Representing home buyers in real estate transactions. Serving in Chicago North Suburbs.

Buy homes with Dmitry Vikhter Community

2017-11-17T10:31:00.001-06:00

My friends, partners and followers on Facebook

Buy homes with Dmitry Vikhter Community

Follow Dmitry Vikhter on Facebook @DmitryHomes

Buy homes with Dmitry Vikhter Community

The Diversity Visa Process 2017

2017-10-04T11:28:00.002-05:00

The Diversity Visa Process 2017.

Shared by U.S. Department of State.

Diversity Visa application process is open now. Share with your friends and people in your circles. Someone really needs this information!
Posted by Dmitry Vikhter on Wednesday, October 4, 2017

Affordable flood insurance through Sept. 30 2017

2017-06-30T18:12:00.000-05:00

Feds promise you access to affordable flood insurance.

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Win for Homeowners: Congress Reauthorizes Flood Insurance for 5 Years

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Here’s how to get the bathroom of your dreams without making your budget a nightmare. Read
Evaluate Your House for an Attic Bedroom Renovation

An attic bedroom remodel is an easy way to increase living space and avoid many of the zoning restrictions attached to adding on. Read

Visit houselogic.com for more articles like this.

How to evaluate your house?

2017-06-30T11:25:00.000-05:00

How to evaluate your house?

Smart Strategies for Remodeling

7 Smart Strategies for Kitchen Remodeling

Follow these seven strategies to get the most financial gain on your kitchen remodel. Read
7 Smart Strategies for Bathroom Remodeling

Here’s how to get the bathroom of your dreams without making your budget a nightmare. Read
Evaluate Your House for an Attic Bedroom Renovation

An attic bedroom remodel is an easy way to increase living space and avoid many of the zoning restrictions attached to adding on. Read

Visit houselogic.com for more articles like this.

What is the best location for a business?

2017-05-17T14:55:00.004-05:00

What is the best location for a business?

Find the best spot for your business based on the type of enterprise and the general desired location.

In depth analysis reports for your business

Where are the right people for a business?

What's the best location for a business?

What's the best business for a location?

Select your retail business:

Select:
trade area
city, zip code, or county

Auto Parts/Accessories/Tire Stores
Automobile Dealers
Bars
Book/Periodical/Music Stores
Building Material/Supplies Dealers
Clothing Stores
Department Stores
Direct Selling Establishments
Electronics & Appliance Stores
E-Shopping & Mail-Order Houses
Fast-Food Restaurants
Florists
Full-Service Restaurants
Furniture Stores
Gasoline Stations
Grocery Stores
Health & Personal Care Stores
Home Furnishings Stores
Jewelry/Luggage/Leather Goods Stores
Lawn & Garden Stores
Liquor Stores
Office Supply/Stationery/Gift Stores
Other General Merchandise Stores
Other Misc Retailers
Other Motor Vehicle Dealers
Shoe Stores
Special Food Services
Specialty Food Stores
Sports/Hobby/Musical Instrument Stores
Used Merchandise Stores
Vending Machine Operators

Где и как купить дом в Чикаго США? Недвижимость в Чикаго, штат Иллинойс.

2017-05-09T11:15:00.000-05:00

Недвижимость в Чикаго, штат Иллинойс. Как и где купить дом?

Дмитрий Вихтер, управляющий брокер.

Помощь для Вас как сделать правильный шаг.

Как профессиональный брокер и риэлтор, работающий как с покупателями, так и с продавцами, я считаю, что важно снабдить своих клиентов лучшей информацией. Я горжусь тем, что все аспекты процесса покупки и продажи понятны для моих клиентов. Текущие рыночные и экономические условия меняются с рекордно низкими процентными ставками и многими кредитными программами, чтобы удовлетворить ваши потребности. Я активно посещаю семинары и получаю консультации от кредиторов, адвокатов и бизнес-лидеров по жилищных вопросов, таких как обращение взыскания на заложенное имущество и банкротство. Если вам нужна помощь в этих областях или какие-либо другие проблемы с недвижимостью, я могу привести вас к квалифицированным специалистам и честной помощи.

Вы также можете искать последние объявления недвижимости на www.847online.com. Регистрируйтесь и ищите, перечисляйте, продавайте и детализируйте данные о домах в вашем районе. Это еще один ценный инструмент, предоставляемый этим специалистом по недвижимости.

Поиск и покупка недвижимости в Чикаго. США это наилучшее место для инвестирования в недвижимость.

5 основных вопросов, которые задают нам наши клиенты:

Где и как купить в Чикаго

Возможна ли покупка недвижимости в США, если Вы не являетесь гражданином США

Возможна ли ипотека в США, если Вы не являетесь гражданином США

Может ли студент, временный контрактор, инвестор или государственный служащий приобрести недвижимость или бизнесс в США

Какой процесс покупки или продажи. С чего надо начать?

Мы ответим на Ваши вопросы.

Инвестирование недвижимости:

Инвестирование недвижимости обычно сопровождаются поиском жилья временного или постоянного. Квалифицированные, лицензированные в США, опытные русско говорящие брокеры по недвижимости и адвокаты контролирует всю сделку от начала до конца: осуществляют поиск недвижимости, вступает в переговоры, проверяют документов, заключают контракт, хранение депозитов, инспекция жилья, оформление сделки, передача денег и ключей от жилья

Наши брокеры:

Наши брокеры знают Чикаго и пригороды, месторасположение больших корпораций, школ, учебных заведений, транспортных сообщений, культурных и спортивных центров. Мы сможем оказать консультацию для частных и юридических лиц, государственных и общественных организаций.

Контакт с нами:

Если Вы хотите ознакомиться с ценами на жилье и получать рапорты и сравнительную характеристику ежедневно и совершенно бесплатно, то пожалуйста напишите нам емаил на offers@buyhomesamerica.com.

Укажите пожалуйста общую информацию о ваших планах в первом письме. Далее на основании вопросов и телефонных переговоров, Вы сможете получать боле подробную информацию о домах, которыми Вы интересуетесь в какой-то конкретном районе или с другими условиями.

Ваша информация, вопросы и условия будут носить конфеденциальный характер при поиске жилья, а также во время и после вступления в контракт на поиск и приобретение недвижимости.

Приглашаем к сотрудничеству:

Лицензированныx брокерoв в штате Иллинойс по операциям с недвижимостью
Лицензированныx риэлторов из других штатов
Лицензированныx риэлторов из других стран
Лицензированныx адвокатов

Before You Buy A Home

2017-04-29T19:06:00.001-05:00

Before You Buy A Home

How Much Mortgage You Can Afford

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.

At Home with Diversity® certification

2017-04-27T20:10:00.000-05:00

NEWS RELEASE

Dmitry Vikhter

Achieves CERTIFICATION in NATIONAL Real Estate Network

(Morton Grove, IL) April 26, 2017- Dmitry Vikhter of Buy Homes America, Inc has been awarded the At Home with Diversity® certification from the National Association of REALTORS®.

Vikhter joins 25,000 other real estate professionals in North America who have earned the certification after completing an 8 hour course addressing topics of diversity, fair housing and business planning development. The program is designed to meet the nation's fair housing commitment by educating and equipping NAR's members with the tools they need to expand homeownership opportunities for the growing number of culturally diverse buyers and sellers in the housing market who identify with groups entailing race, ethnicity, religion, gender, handicaps, familial status, or national origin.

Today, more than one third of Americans are minorities. By 2050, minorities will be the majority. Real estate professionals like Vikhter who adapt to increasing cultural diversity in the market and wisely plan to meet the needs of diverse clients gain a competitive edge and expand opportunities. At Home with Diversity® certification allows REALTORS® to not only apply the multi-faceted skills and tools they learned in the course to business practices, but conveys to clients they’re dynamic real estate professionals with expertise that transcends cultural barriers.

For more information on the At Home with Diversity® certification, visit www.realtor.org/ahwd.

Dmitry Vikhter can be reached at Buy Homes America, Inc. at (847) 401-8870 or dmitry@buyhomesamerica.com

Find the Best Agent to Sell Your House in Chicago North Suburbs

2017-04-21T16:19:00.000-05:00

Find the Best Agent to Sell Your Home

Serving home sellers and home buyers in Chicago North Suburbs

How to Use Comparable Sales to Price Your Home

Before you put your home up for sale, understand how the right comparable sales help you and your agent find the perfect price. Read
Find the Best Agent to Sell Your House

Ask detailed questions about their experience and skills to help you find the right agent for your home sale. Read
5 Tips to Prepare Your Home for Sale

Working to get your home ship-shape for showings will increase its value and shorten your sales time. Read

Visit houselogic.com for more articles like this.

Serving Home Buyers and Sellers in Chicago

5 Ways to Prepare Your Lawn for Spring

2017-04-21T15:16:00.000-05:00

5 Ways to Prepare Your Lawn for Spring

Work for Organic Lawn Care

When's the Best Time to Plant Trees?

Plant trees at the right time and they’re more likely to thrive. Here’s when to plant so you get the most value from your landscaping investment. Read
Do Home Remedies Work for Organic Lawn Care?

Think you’re smart and thrifty feeding flat beer to your lawn? Think again. Home remedies for organic lawn care may cost you more than you think. Read
Season-by-Season Lawn Maintenance Calendar

Tips for a barefoot-worthy lawn that’ll ensure your home has uber curb appeal. Read
How to Keep Your Dog Out of Your Garden

Is your pooch pawing your petunias? Here’s how to keep your dog out of your garden and away from your precious plants. Read
How to Mulch

Anyone can learn how to mulch and prolong the life of their landscaping. Here’s how. Read

Visit houselogic.com for more articles like this.

These Tiny Changes Can Transform Your Home in a Big Way

2017-04-14T18:16:00.000-05:00

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.

Do you want to market your property to the world?

2017-04-09T17:16:00.001-05:00

Do you want to market your 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."

CALL / CHAT: 847-401-8870 or EMAIL: dmitry@buyhomesamerica.com

Why to join my team?

2017-03-27T10:33:00.001-05:00

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 United States.

As a leader in technology in the brokerage space, we provide differentialable skill sets for our future brokers:

We select critical technologies to capture real leads from real resources
Our "in-house" IT will develop mobile advertising to attract customers in your area of expertise
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, Illinois REALTOR®

Certified International Property Specialist (CIPS)
At Home With Diversity® Certified

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
Responsiveness to clients' desires and needs
Self-motivation - this position is commission-based, so compensation is based on performance
Positive attitude - our practices are client-oriented in the business-to-consumer and business-to-business sectors
Strong organizational and time management skills
Brokers who abide Real Estate License Law, Code of Ethics and other specified rules, regulations and company policies
Willingness in working in a multicultural environment alongside bilingual brokers

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 that 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.