Once you receive a decent offer for your home, you and the potential buyer will probably make the price the main focus of your negotiations. As important as the price is, it is not the only contract term that determines how much money the Seller will walk away with from the deal. Because the Buyer will likely be so singularly focused on the price, you may be able to gain valuable concessions from the Buyer along the way without much argument. Here are three strategies you can use increase your bottom line without making a change to the purchase price. Tip #1 – Tax Credit Percentage A frequently overlooked contact term that directly affects the seller’s…
-
-
Chicago Property Tax Rebates End Tomorrow
Many of us were caught by surprise when the second installment of the 2015 real estate tax bills arrived in the mail this past July. Steep increases were the norm, especially for homeowners in parts of town that experienced healthy increases in property values over the past few years. That’s the bad news. The good news is that the City is offering many of us rebates of up to $200. The amount can be more if you are eligible for a senior or enhanced grant. From the City’s website: Eligibility: In order to qualify for a City of Chicago property tax rebate, homeowners must meet …
-
Estimate Your Closing Costs – Part 1
If you have ever bought or sold a home, you know that there are all sorts of charges that you incur in addition to the purchase price, which are known to most as “closing costs.” We all know about them, but estimating the final number can be elusive if you are not familiar with the process. In the next four emails, I am going to shed some light on calculating the closing costs, so that you can better understand what the home is really going to cost you as a buyer or what you can expect to walk away with as a seller. Real Estate Taxes The real estate tax…
-
Get Your Real Estate Tax Assessment Appeals Ready!
You probably just received the first installment of your 2015 real estate tax bills, and once the panic over the upcoming second installment subsides, you want to know how to lower that bill. As I talked about a couple of weeks ago right here, some of the assessments went absolutely bananas for 2015, and you can expect the second installment of your tax bill to deliver a real sucker punch if you are not prepared. One way to combat the ever-increasing property tax bill is to appeal the assessment. Believe it or not, appealing your assessment can be relatively simple. Many people choose to use an attorney to…
