Renting Your Home
Homeowners who don't need the equity from their home to purchase a new home may consider renting it instead of selling. Rental property is almost always a good investment, but you should understand the consequences of becoming a landlord.
Tenants may not share your pride of ownership and, therefore, may not maintain the property like you would. If you plan to rent your property, acquaint yourself with state or local landlord/tenant laws, including those dealing with rent control and eviction procedures. If the home you rent has been your primary residence, you could lose the benefits of a capital gains deferral when you sell it later. Get professional advice from a tax expert and a professional real estate agent before you decide to turn your home into rental property.
Do These Real Estate Tips Really Apply to YOU?
We've learned these tips through years of experience as top REALTORS®. But we know that YOUR situation might be different. That's why we're here.
Appraisals have been a difficult topic in a down real estate market. Remember we need to sell your house to 3 people: the buyer, their realtor, and most importantly the appraiser. Recently, after selling a glenview home, I met an appraiser at the property. This gentleman was from Romeoville, IL. He was not from the area, did not know our local market, and in my opinion had no business attempting to appraise this home. The Marla Schneider Team is very experienced in dealing with an issue such as this. Under this circumstance we need to do the appraisers job for him. When we meet him at the property, we provide him with current comparable sales, and actives that will justify the sale price. Many transactions in the Northshore of Chicago have fallen apart due to low appraisals. I can confidently say that we have never had a deal fall through due to an appraisal. Experience and knowledge is why we are the best.
It's our job to personally advise homebuyers and sellers. Ask us if any tip that we've included here really applies to your situation.
We specialize in Glenview homes for sale, Northbrook homes for sale, Wilmette homes for sale, Winnetka homes for sale, Wheeling homes for sale, Skokie homes for sale, Morton Grove homes for sale, Mount Prospect homes for sale, Prospect Heights homes for sale, Highland Park homes for sale, Lake Forest homes for sale, Deerfield homes for sale, and Arlington Heights homes for sale.
Do any of these tips raise questions for you? Didn't find what you're looking for? Let us know! We am happy to answer ANY questions. It's our job! There's no obligation, and we promise to get back to you quickly...
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