Joe Lynn, Managing Broker, 847-452-9191, joelynn@grapevinerealtor.com
SELLING
1.75% Commission
Most Realtors ask for 2.5% to 3.5%. I take less and save you money. That's $3,750 to $8,750 savings on a $500K sale price.
In hiring me to sell your home, I will:
1. Prepare a Comparative Market Analysis to establish a fair market value for your home.
2. I will help you stage your home and hire a professional photographer to take pictures.
3. Email listing targeting buyers looking for your home’s location, size and features.
4. Your home on dozens of websites such as Realtor.com, Trulia, Zillow and Redfin, as well as the sites of brokerage franchises (Coldwell Banker, Century 21, Berkshire Hathaway, ReMax, @properties, etc.).
6. Guide you through the selling process and give you my opinion and the reasons for it.
BUYING
50% OF MY COMPENSATION TO BUYERS AT CLOSING*
That's $6,250 to you at closing on a $500K sale price. $10,000 on a $800K sale.
I service the Northwest, North & West Suburbs as well as Chicago.
See below for my free Buyer's Checklist.
(*$300K min. purchase price; based on 2.5% paid by seller)
My Story
Joe Lynn
Designated Managing Broker
I love the educational part of real estate: giving buyers & sellers the information they need to make informed decisions. I offer my professional recommendations & walk clients through the process making it as smooth as possible. I am a member of the National Association of Realtors, a Managing Broker of the company and have been a Realtor in IL since 2004.
Buyer's Checklist
1. Figure out what you can afford.
A. In order to figure out an estimate, note two rules of thumb:
1. Your monthly cost of buying a home, including principle, interest, taxes and insurance (PITI), should not exceed 28% of your gross (pretax) monthly income.
2. Your payments on all long-term debts combined with your house payment should not exceed 36% of gross monthly income.
Use an online mortgage calculator to figure out P (principle) and I (interest). Be sure to add T (taxes) and I (insurance) to that calculation to come up with the monthly cost of buying a home (PITI).
B. Use The Rule of Three and seek out rates and services with three mortgage companies/mortgage brokers. This gives you a good sense of what a good rate really is.
I highly recommend using a mortgage broker. A bank has a few loan options, all from itself (one lender). Brokers have access to many lenders and loan options and oftentimes have better rates and lower closing costs.
C. Ask the mortgage companies/brokers what you can afford. This gives you a much more accurate picture than the rough estimate you did in letter A above.
D. Choose a mortgage company/mortgage broker and have them prepare a loan pre-approval letter. This letter will be very helpful in making your offer to buy a home very attractive to a seller and will help speed up the loan process.
2. Figure out what you want.
A. Create a list of “must haves.” Some features to think about: eat-in kitchen, dining room, move-in condition, basement, garage, cities, schools, dishwasher, house style, updated kitchen and baths, master bathroom, yard and number of bedrooms and baths.
B. Create a list of “nice to haves.” What would be nice to have, but isn’t essential? Features may include: dishwasher, master bath, walk-in closet, attached garage, basement, hardwood floors, fireplace, laundry chute, eat-in kitchen and deck/patio.
C. Create a list of “don’t wants.” Some issues to think about: busy street, flood plain, power lines, monthly assessment and rehab.
3. Find a Realtor.
A. Find one who is going to be honest—tell you the good and bad about each property. A Realtor sets up showings, establishes a home’s value, and leads you through the buying process. Before seeing properties, it is required that buyers sign a contract with Realtor. Check out my feedback on Google and YELP!
B. Questions to ask potential brokers:
1. How many clients are you working with now? The fewer, the more likely you will get the attention you deserve.
2. What do you offer me as a client? You want someone who will be responsive to you. Do you offer any incentives to work with you?
4. Choose a lawyer.
A. Expect to pay ~$500-$650 as a buyer.
B. Once you have a contract to purchase, I will forward the contract to your attorney immediately. There is a five day attorney review period once the contract is signed.
5. Choose a home inspector.
A. Choose an ASHI certified inspector. Expect to pay ~$400-$500. There is a five day inspection period after the contract is signed.
B. Order a radon test through your inspector (expect to pay ~$200-$300). If there are elevated radon levels, the buyer pays for a radon mitigation system (~$1,500-$2,500). Also consider a sewer inspection—if there are issues, seller usually pays to fix them.
6. Search for homes, make an offer, buy one, move.
A good Realtor will go over your three lists with you (see #2 above), set up showings to look at homes, keep in touch with you regarding the process and new homes on the market, help you make an offer on a home you love, and guide you through the closing.
7. Relax.
A. Tackle one item at a time. Cross it off the list once it is done.
B. I will do everything I can to make this process a smooth one. My goal is to help you find a home you love while putting more money in your pocket.
CONTACT ME
CONTACT
847-452-9191 (cell)
joelynn@grapevinerealtor.com