About Tazewell County, IL

Allow though it is definitely the job of your Realtor to keep track of your deadlines on the contracts, you should be keeping track of those dates as well. If for no other reason than to protect yourself. What if your Realtor is injured, incapacitated, or even, lets face it just plain lazy or incompetent? Sure, you probably have grounds for a lawsuit against them at a later date but in most cases you will not have any immediate relief for the missed deadline. So be sure to read your contract and know when your inspections are due by and when repair amendments must be submitted by in case someone is asleep at the wheel.

Looking for the most profitable path to selling your home? Using a marketing plan is your map and an experienced real estate agent is your guide.

A knowledgeable agent will keep you on course with a complete marketing plan that includes fact-based market analysis, signage, virtual tours, brochures, MLS placement, direct mail, home showings, open houses, and the resources of their active network.

Know-how also counts on the road to "sold!" Select an agent with a proven track record who will aggressively market your home, anticipate problems, and skillfully resolve any unavoidable issues.

It's tax season again and thoughts of home ownership weigh heavily on the minds of renters and other prospective homebuyers. Renters are often apprehensive about the financial responsibility of owning a home. WeSellPekin.com wants to remind taxpayers that ownership, rather than renting, offers financial benefits. Below are tax incentives for home ownership, but as always, taxpayers should seek the advice of a financial professional:

• Deductible property taxes and interest. Most homeowners can deduct property taxes and interest paid on their mortgage for each year of ownership.

• Borrowing against equity. Homeowners can borrow against the equity they have built up in their homes. Equity from a home can be used to improve the property, buy a car or pay for education.
• Real estate tax exemption. Depending on the state, certain real estate tax exemptions apply for homeowners who meet specific criteria.
• Yearly home appreciation. Although it is not a tax advantage, homes build equity over time. Renters receive no financial return on monthly rental costs.

Trying to sell a home and buy one at the same time can be a challenging task. Many home buyers find themselves caught in a difficult position as they often cannot place an offer on a desired home and simultaneously sell their current one.

Below are some tips from WeSellPekin.com on how to close the gap between buying and selling a home:

Consider bridge loans. A bridge loan means borrowing from the current home's equity until the proceeds from its sale are obtained. Some bridge loans require that only the interest be repaid; others mandate a single payment of interest and principal when the loan needs to be paid back. If protracted, bridge loans can be expensive, so it is best to use them for overlaps of a short period of time between closings.

Buy on contingency. Have a prior-sale contingency included in the purchase contract of the new home. It provides the opportunity to withdraw from an offer if the current home does not sell by a specific and agreed upon date.

Evaluate whether to buy or sell first. You could still find yourself caught in between even with a prior-sale contingency clause. Home owners must consider which is better to do first. In a seller's market, locating the new home and starting the buying process may be the best approach. It is important to note most people need to sell their current home to qualify for a loan to purchase the next one, which is often more expensive. In a buyer's market, you should be aware of the time frame and the possibility of not being able to sell your current home quickly.

Review home equity options. For those who need to borrow for a longer period than just a few months, it is best to use a home equity loan or a fixed-rate line of credit, particularly if sizable equity has been built up.

You are out looking for that home of your dreams and never quite find it. This one has bad lighting and that one has a bad kitchen layout. Then the clouds part, the sun begins to shine and you find the "one". But you can't put in an offer because you haven't taken the very crucial step of getting pre-approved for a loan or you put an offer without a pre-approval and the seller tells you to take a hike because your offer is useless without it. Now you have to scramble and get that pre-approval so you can secure your dream home, meanwhile someone else waltzes right in with a pre-approval and makes an offer and buys your dream home. Save yourself this heartache and get yourself pre-approved at the start of your home search. Keep in mind two key items 1. you are not the only person looking for a home in your price range 2. a seller will not take your word for it that you can afford their home. A pre-approval will help you avoid either item costing you a home.