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Real Estate

Real Estate Investors Are Avoiding Chicago. Here’s Why

Aerial view of Chicago buildings Chicago's financial difficulties and investors’ fear of higher taxes to cover unfunded liabilities have caused some investors to delay property purchases or avoid the area market altogether. The city's commercial real estate values dropped significantly in … [...]

What You Need to Know About Dual Agency in Illinois

Dual agency, or representing both parties in a real estate transaction, places legal limits on a real estate agent’s ability to represent the interests of their client. Sellers and buyers should protect themselves by understanding the effects of dual agency. Is Dual Agency Legal? Unlike a real … [...]

What You Should Know About HOA Rules Violations

Penalties for violating Home Owner Association (HOA) rules can include fines, legal costs, and even liens against the property. To protect themselves, homeowners must understand the HOA’s regulations and their obligation to comply with them.  Take HOA Violations Seriously HOAs in Illinois are … [...]

How to Avoid Real Estate Investment Scams

Real estate investment scams can cost investors thousands in lost assets. Understanding how they operate and how to recognize them can protect investors against financial loss. Losses Rising As they take advantage of a recovering real estate market, investors continue to add real properties to … [...]

What Chicago’s Building Code Overhaul Means for You

The Chicago City Council revised the city’s building code for the first time in more than seventy years, bringing it in line with the International Building Code (IBC) construction and use practices. These changes affect property owners, buyers, and developers. What Changed Construction technology … [...]

Will a Balloon Mortgage Land You in Hot Water?

Balloon Mortgages generally feature lower interest rates, smaller monthly payments, and lower down payment requirements but the large balance that comes due at maturity may make them too risky for some homebuyers. The inability to pay the balloon payment due at the end of the mortgage term may … [...]

Homeownership Is Once Again the American Dream

The American Dream of homeownership is once again a reality for those who may have been excluded from the housing market in the past. Buyers who do their homework and understand the local real estate market can avoid disappointment and be ready to close on the home of their dreams. With more buyers … [...]

Help! The Seller Backed Out of Our Contract

When sellers back out of a sale, buyers may be entitled to compensation for their losses. A contract to sell real estate is legally binding on buyers and sellers. Once the agreement is signed and funds are deposited in escrow, neither party can back out without consequences. Why Sellers Back Out On … [...]

The Key to Buying a House with No Down Payment

Mortgage assistance programs make it possible for many home buyers to purchase a house with little or no down payment. To make use of these programs, home buyers must understand which programs are available in their area and qualification requirements for each. Home Ownership can be a Reality The … [...]

Is Your Real Estate Agent Looking Out for Your Best Interests?

A conflict of interest may prevent real estate agents from representing their clients' best interests. Dual agency and other less apparent conflicts can place buyers and sellers at a disadvantage. To protect themselves, it is essential that all parties fully understand whose interests the real … [...]