5 Tips For Staying Cool In A Hot Market!

1. Read and understand everything before you sign

 

When you hire a real estate representative to help you buy or sell a home, you will be asked to sign an agreement that defines your relationship with the representative’s brokerage. It is a legal contract that contains rights and responsibilities for both parties. Similarly, if you purchase or sell a home, you will be asked to sign a legal contract to complete the transaction. These are just two examples of real estate agreements that are legally binding, meaning you typically can’t back out of the agreement once you’ve signed on the dotted line. That’s why it is important that you understand everything in the agreement before you sign. If you don’t understand something, ask your real estate representative to explain it to you. If you are still not satisfied, you can seek advice from a real estate lawyer. And, if you’re not comfortable with the contents of the agreement, have a conversation about it with your representative before signing.

 

2. Be sure you and your representative are on the same page

 

When working with a real estate representative, it is important that both of you have a mutual understanding of what services he or she will be providing to help you buy or sell a home. Have a thorough conversation about the details and then make sure they are contained in the agreement you sign. It’s also a good idea to do some advance research on your own about the buying and selling process. Take the time to learn about the forms and contracts you will be expected to sign. An educated consumer is an empowered consumer. By doing your research and making sure you understand what the conditions are like for buyers and sellers in your area.

 

3. Leave your emotions at the door

 

Buying or selling a home can be an emotional rollercoaster. The best way to prepare yourself is to make a plan in advance and stick with it through the process so that you will make informed decisions you won’t later regret. If you are a buyer, decide where you want to live and which features in a home are important to you. Determine your maximum budget and then stay firm, even if a bidding war arises. If you are a seller, decide in advance what price you need to get for your home and how you want offers to be presented to you. By making a plan and sticking with it, you will have an easier time walking away from a deal if it’s outside your comfort zone.

 

4. Know your tolerance for risk

 

In a hot market, you may be tempted to submit an offer to buy a property without any conditions attached so that you get a leg up on the competition. However, before deciding to skip the home inspection, status certificate review or the financing clause, you need to consider whether you’re comfortable taking on that level of risk. Can you afford to fix a major issue with the home that an inspection may have detected? Or potentially lose your deposit if your lender denies your financing? If not, then waiving conditions may not be the way to go to win a bidding war for a home. If you do end up waiving conditions, be sure you have a contingency plan in place to manage any financial risks should they arise.

 

5. Be flexible and have a back-up plan in place

 

Real estate transactions can happen at lightning speed, which means even the best-laid plans might have to be adjusted. The best way to prepare for something unexpected is to do some advance research on how the process works. Before getting into the market, learn about the pros and cons of selling first versus buying first. Assess your tolerance for risk and determine how you can lessen those risks – possibly by attaching conditions to your offer. You should also build a contingency plan that will help you manage a situation where you find yourself owning two homes, or no home, for some period of time. By preparing ahead of time, you will be well-positioned to respond to quick developments in your real estate transaction.

 

Gagliardo Realty Website

 

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Open HOUSES This SUNDAY!

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223 Thatcher Ave, River Forest.. Open from 1-3pm and it’s listed for $885,000!!

1451 Keystone Ave

1451 Keystone Ave, River Forest.. Open from 1-3pm and it’s listed for $1,049,000!!

1890 Stockton Ave

1890 Stockton Ave, Des Plaines.. Open from 1-3pm and it’s listed for $349,900!!

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835 Forest Ave, Oak Park..  Open from 1-3pm and it’s listed at $380,000!!

 

For more information on these listings and ALL our listings Click Here

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Open Houses THIS SUNDAY!

 

 

38 Park Ave, River Forest..  Open from 1-3pm

223 Thatcher Ave, River Forest..  Open from 1-3pm

1000 N. Marion Street, Oak Park..  Open from 1-3pm

1339 Ashland Ave, River Forest..  Open from 1-3pm

821 N. Euclid Ave, Oak Park..  Open from 1-3pm

1426 Jackson Ave, River Forest.. Open from 1-3pm

1206 Lathrop Ave, River Forest..  Open from 1-3pm

828 Jackson Ave, River Forest..  Open from 1-3pm

605 S. Elmwood Ave, Oak Park.. Open from 10-12pm

749 Jackson Ave, River Forest..  Open from 1-3pm

842 N. Cuyler Ave, Oak Park..  Open from 1-3pm

3814 N. Fremont Street, Chicago..  Open from 10:30-12pm

 

GagliardoRealty.com

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Brand NEW Listing at 38 Park Ave, River Forest…

38 Park Ave

This beautiful and spaciously renovated single family home offers 3800+ sq/ft of easy living starting with 1st floor’s open concept featuring gourmet chef’s kitchen w/professional Thermador cooktop/grill/skillet combo, granite counter-tops, stainless steel appliances, and island. Dining/Living room combo features elegant trey ceilings, hardwood floors leading to stunning barn doors that open up to family room. 1st floor bedroom/office with freshly updated full bath w/ Jacuzzi tub. 2nd floor has 4 spacious bedrooms and a tranquil western facing sun room overlooking a huge backyard. 2nd floor features Master’s suite w/ full bath, separate shower and large Jacuzzi tub, large walk in closet. 3rd floor has full size great rm w/separate guest bdrm and a workout room. Basement is finished with entertainment room, laundry room, full bath, bedroom/storage. Walking distance to Community Center/Pre K, Lincoln Elementary, Roosevelt Middle School, restaurants, shops, Metra and Blue Line Trains.

 

Virtual Tour Link

 

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Brand NEW Listing located at 223 Thatcher Ave, River Forest

 

Grand rooms, beautiful wooded vistas, walk to Metra! Updated 5 bedrooms and 4.5 baths Victorian overlooking lush Thatcher Woods. Gorgeous upgrades included natural stone fireplace in first floor family room, open kitchen featuring granite counters, Viking stove, Sub Zero refrigerator & new SS dishwasher, skylights. First floor has space for everyone in formal living,dining, parlour and open office. Four bedrooms and three full baths on second floor with two en suites! Third level 5th bedroom w/full bath & C/B, home office or a teen get away. The lower level has a large (26×12) finished recreation room. NEW HVAC/H20 heater, NEW 2nd floor windows,NEW storm windows complement original  windows on 1st floor. The two story, 4 car gar unique bonus space complete with electrical/plumbing. Huge wrap around porch, wired for sound and patio provide ample outdoor entertaining space. Lovely lot, room to grow, move right in!

Virtual Tour Link

 

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Open Houses THIS SUNDAY…

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1426 Jackson Ave, River Forest.. Open from 1-3pm

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1227 Franklin Ave, River Forest.. Open from 1-3pm

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1143 S. Grove Ave, Oak Park.. Open from 1-3pm

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301 S. Craig Place, Lombard.. Open from 1-3pm

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821 N. Euclid Ave, Oak Park.. Open from 1-3pm

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320 Ashland Ave, River Forest.. Open from 1-3pm

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1206 Lathrop Ave, River Forest.. Open from 1-3pm

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1324 Franklin Ave, River Forest.. Open from 11-1pm

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1339 Ashland Ave, River Forest.. Open from 1-3pm

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1000 Marion Street, Oak Park.. Open from 1-3pm

Click Here for more information on these listings and ALL our listings…

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Open Houses THIS SUNDAY…

 

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1179 Home Ave, Oak Park.. Open from 10-12pm..  Listed at $499,000

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605 S. Elmwood Ave, Oak Park.. Open from 1-3pm..  Listed at $450,000

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300 N. Harvey Ave, Oak Park..  Open from 12-2pm..  Listed at $729,000

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344 Keystone Ave, River Forest..  Open from 1-3pm..  Listed at $1,650,000

 

Click on the link below for more info on these properties and all of our properties..            Gagliardo Realty Associates

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Brand NEW Listing at 605 S. Elmwood Ave, Oak Park…

Beautiful brick tri-level home nestled in the heart of the Gunderson Historic                         district. New cherry wood floors throughout. Many nice updates. Great                                   layout with 4 bedrooms and 2 full baths. Family room in lower level plus                               Sub-basement. Newer furnace and central a/c, roof, windows, etc. 2 car                                 brick garage. Well kept and deceivingly large home. Walking distance to                               grade, middle and high school, Green Line, Ridgeland Commons Park/Pool.

Gagliardo Realty Website

 

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New LISTINGS!!

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1227 Franklin Ave, River Forest..  Listed at $835,000..  3 Bedrooms / 2.2 Bathrooms…

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1179 Home Ave, Oak Park.. Listed at $509,000..  4 Bedrooms / 2 Bathrooms…

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300 N. Harvey Ave, Oak Park..  Listed at $729,000..  4 Bedrooms / 3.1 Bathrooms…

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4851 W. Cornelia Ave, Chicago..  Listed at $415,000..  4 Bedrooms / 2 Bathrooms…

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414 Clinton Place, Unit 603, River Forest.. Listed at $169,900..  1 Bedroom / 1 Bathroom…

CALL TODAY for more information on these listings and all our listings…

708.771.8040

Gagliardo Realty Website

 

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