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Commercial and Residential
Brokerage
Whether you're buying or selling a home, condominium,
apartment building, commercial or industrial property, Regent's experienced
sales staff is ready and able to serve you. Regent's management personnel
have nearly 100 years of combined experience and work closely with the Sales
Staff to give Regent's clients the comprehensive service, high degree of
professionalism and integrity necessary for success in today's challenging
and fast paced real estate market.
The Regent
organization will give you a comprehensive analysis of any proposed purchase
or sale, including expert advice on location, current market conditions,
comparable sales data, financing options, and the overall marketing plan.
All of this along with personal service and an attention to detail rarely
matched by any other real estate firm.
As a member of
the Multiple Listing Service of Northern Illinois and an active media advertiser,
you can be confident that Regent will provide comprehensive market exposure
for your property. Regent is an "internet pioneer" having a website for over
5 years. The Regent site generates several thousand distinct visitors every
week who view colorful and comprehensive advertising materials on all Regent
listings.
Click here to contact an
agent today.
Using a Buyer's Representative offers the consumer many benefits:
- Evaluates the specific
needs and wants of the buyer and locates properties that fit those
specifications.
- Assist the buyer in
determining the amount that they can afford (pre-qualify) and show properties in
the price range and locale the consumer has determined.
- Assist in viewing
properties and either accompany the client on the showings, or preview the
properties on behalf of the client, to insure that the identified specifications
are met.
- Research the selected
properties to identify any problems or issues to help the consumer make an
informed decision, prior to making an appropriate offer on the property.
- Advise the client on
structuring an appropriate offer on the property.
- Present the offer to the
seller's agent and seller on the client's behalf.
- Negotiate on behalf of the
buyer-client to help obtain the identified property. Keep in mind that the
buyer's agent will be doing so with their client's best interest in mind.
- Review and explain al
legal documents to their buyer-client.
- Recommend and assist in
security appropriate financing for the selected property.
- Provide a list of
potential qualified vendors, e.g. movers, attorney, or carpenters, if the
consumer needs their services.
- Most importantly, the
buyer knows that they are fully represented throughout their real estate
transaction.
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Buying a property is not
a difficult process, but it is very detail-oriented with a lot of decision
making.
Interview - At this meeting, we will discuss our expectations
of each other and how we will represent you. We will also discuss what you
are looking to purchase and what is currently on the market.
Pre-approval -
If
do not have a Mortgage Broker/Lender, we can recommend one for you. This way
you can become pre-approved/pre-qualified so we can see how much you can
afford as well as being able to make a stronger offer to purchase.
Showings -
Once we know what you can afford, we will narrow down our property search to
meet your specifications. You can then choose the ones that interest you and
we can make appointments for showings. Showings usually require a 24 to 48
hour notice, so please let us know your selections as soon as possible.
Offers -
Once you find a property you would like to purchase, it will be time to
write up an offer. First, we will sit down and discuss the content of the
contract. Then we can write up the strongest offer you feel you can justify,
including any possible contingencies and riders. You will also need a
deposit of "earnest money". This can be in the form of a personal. check. We
will then deliver the offer to purchase to the cooperating broker or owner.
We will then wait for the outcome, which can be one of three things: 1. They
accept it, 2. They turn it down, or 3. They counter the offer.
Acceptance and Closing
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Sometimes, before an offer is accepted, it might go through several
counter-offers before the terms are agreed upon. Yet, once it is accepted,
we will go through with the contingencies (attorney approval, home
inspection, etc.) and you will increase your earnest money deposit. During
this time, you will be in contact with your attorney, accountant and
mortgage broker. They will be getting everything ready for the closing, such
as the appraisal, proper paperwork, and date and time of closing. Also, if
indicated in the contract, you will have a final walk-through the property
24 hours before closing. This is to ascertain that no major damage has been
done to the property since you saw it at the time of your offer. At the
closing you will sign all necessary paperwork, make payouts (if necessary)
and "close" on your new property.
The best
time to buy real estate is always yesterday. That being the case, there can
be little advantage in waiting for today to become yesterday. Which is why
real estate professionals will repeatedly tell you that the best time to buy
real estate is now. Every economic factor suggests there will be a shortage
of housing in the United States for many years to come. Population growth
and the formation of new families continue to outstrip the growth in the
housing stock. New construction has failed to meet the demand year after
year. The housing squeeze is one of the key factors that has kept home
prices at historically high levels. Home prices have remained strong despite
periods of high interest rates! Decline in the cost of mortgage funds only
increase the upward pressure on housing prices. Buyers who qualify for a
loan today can hardly be better off by waiting.
Consider
these facts:
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Real estate is still one of the best single
vehicles in this country for accumulating individual wealth.
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Residential property has continued to
appreciate while many other investments have marked time or declined. A
well-chosen property is still one of the best investments you can make
to offset inflation.
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Real estate is still the only investment
where the ordinary person can take advantage of large amounts of
borrowed capital-and the leverage that comes with it.
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Federal income tax policy still provides a
substantial subsidy for home-buyers. Income tax deductions for mortgage
interest and property taxes dramatically lower the true cost of
"expensive" mortgage money.
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A home still has shelter value. Part of your
investment funds comes from money you would spend anyway-and lose if you
were paying rent.
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Owning your own home still provides all of
the powerful satisfactions that have been a part of the American dream
for generations: A tangible stake in your community and the sense of
belonging which it brings, greater safety and security for yourself and
for your family, freedom from the requirements and whims of landlords,
and freedom to live your own life in the surroundings of your choice.
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The number of ways that you can buy real
estate today is astounding. It is often helpful to have a tour guide to
lead you through the winding streets and warm you of the pitfalls.
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Buyer's checklist
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A copy of the Contract to Purchase should
be forwarded to your attorney immediately following acceptance. If you
do not have an attorney, we will be happy to recommend several from
which you can choose.
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If there are any contingencies, which you
must satisfy, be sure to act on them immediately. Any testing required
on your part should be scheduled as soon as possible.
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Be sure to apply for your mortgage in a
timely manner. We will assist you with your selection of a mortgage to
ensure you get the best financing to suit your needs.
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Don't wait until the last minute to obtain
Homeowners Insurance. YOU MUST BRING A COPY OF THE ACTUAL POLICY TO THE
CLOSING, a binder or receipt will not be accepted. Remember, your
mortgagee must be named as the primary beneficiary.
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All funds necessary to close must be
brought to closing in the form of CASHIER'S OR CERTIFIED CHECKS.
Personal checks are not accepted.
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Your walk-through will be scheduled within
the 48-hour period prior to closing. Your Realtor Associate will
accompany you and assist you to check that all items included in your
Contract to Purchase are present.
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Your attorney will contact you with
closing figures. The exact amount of money you will need often will not
be determined until your closing is scheduled.
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Closing will most often take place at a
title company or an attorney's office. Set aside two hours for closing.
Generally, you will receive possession (keys) at closing unless your
contract calls for another arrangement.
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Prospective Sellers
Some of these When
listing your property, there are many detailed services we use to sell it.
Some of these selling strategies are as Follows:
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C.M.A.- Comparative Market Analysis.
This is to get the best listing price, which will bring you the highest
return in the least amount of time.
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MLS-Multiple Listing Service.
We will insert your listing in the Multiple Listing Service of Northern
Illinois. All Chicago Association of Realtors “ CAR” and all Brokers “
Brokers Only” as per your request.
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Open Houses-
We hold
open houses for the public as well as a special open house for “ Brokers
Only” as per request.
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Signs-
With your
permission, we will arrange to have a professional real estate for sale
sign installed on your property indicating where to get information
about the property and how to make an appointment to view it.
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Brochures-
We will
custom-design a brochure that will be used for prospective buyers. This
will include digital pictures as well as special features and
specifications of the property.
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Internet-
We make the
most of today’s technology and use the Internet. When we list your
property, it has access from several of the most popular “ Home”
websites. Regent Realty Group, Inc.’s
www.regentrealty.com.
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Pre-Approval-
We make
certain all of our prospective buyers are at least pre-qualified, which
makes a more serious and stronger offer to purchase.
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Showings-
This is the most important aspect of selling your property. With each
showing, you are that much closer to a sale. We will tour the property
and point out significant details.
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Advertising-
Not only do
we use the Internet but we also use newspaper advertising as well as
mailings and other “creative” techniques.
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Networking-
We make it
known that your property is for sale. We use our networking system,
which includes Mortgage Brokers, Attorneys, Carpenters, Friends,
Investors, Developers and, of course, our own pre-approved/pre-qualified
buyers.
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Preparation-
First impressions do count! This includes curb appeal, cleanliness and
organization. Two things to remember, “less is more” and “keep it simple”.
Another pre-listing improvement is to get a professional home inspection, so
you are aware of any problems that might show up during the buyer’s
inspection. It is also advised to consult your attorney and an accountant
before listing your property. Their consultations can provide guidance and
expertise to help make the best decision for your financial future.
Listing-
Determine
the best and fairest price for your property. Fill out and sign the listing
agreement. The listing agreement includes the property, list price,
commission, time period of agreement, etc. Fill out and sign the disclosures
(Property, Lead paint and Gas and Heat). Documents, which you might have,
could be useful, which include: surveys, mortgage documents, condominium
declaration/by-laws, special assessments, pet ownership restrictions,
financial reserves of association, limited common elements, etc. In
addition, write down your favorite aspects of your property and why you are
selling. This information could be valuable information.
Marketing-
all
of your information on the property will be entered into the “MLSNI”, making
it available to over 27,000 agents, 24 hours a day. All Regent Realty Group,
Inc. agents will preview your property for their clients. Other marketing we
will do will include erecting for-sale signs (with your permission), open
house, custom brochures, newspaper advertising, direct mail advertising and
listings on our website, “www.regentrealty.com”
Showings-
We make every effort to allow 24-hour notice on all showing requests,
however, there are special requests where less notice is required. We
accompany all prospective purchasers and agents through the property. During
the tour of the property, we highlight all significant features. After all
showings, we give the seller feedback about reactions and comments from the
prospective buyers.
Offers-
When an offer is made, we will make an appointment to sit down and discuss
the contract with you. A signed and delivered offer becomes a binding
contract with you. We will discuss items in the contract, what you are
rejecting, amending and agreeing to. I can make suggestions to you about the
offer but we cannot offer legal advice. Keep In mind that there may
be several counter offers before both parties. Agree. Once you have agreed,
I will then deliver your response; collect earnest money and follow-up on
the fulfillment of all contingencies. The contingencies usually consist of
home inspections, financing and attorney approval. You should then meet with
your attorney to discuss the necessary paperwork needed for closing.
Closing-
Right
before closing, usually 24 hours, the buyer may take a final walk through.
The closing is usually at a mutually agreed title company. The buyer and
their attorney/s, the closer for the title company, and I will attend the
closing. You will sign the deed as well as a few other documents and the,
when everything is completed, you will receive a check, minus deductions for
broker’s commissions, title expense, tax/revenue stamps, pro-rated real
estate taxes, survey cost and attorney’s fees, if any.
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