Local knowledge for buyers and sellers
PowerTeam Homes started as a local real estate team site for the northern suburbs of Chicago - the lake towns and subdivisions of Lake County and the neighboring communities of northern Cook County. What remains most useful from it is the practical side: how to buy a distressed or bargain-priced house without inheriting its problems, and how to prepare your own home for the market.
Buying foreclosures and bargain homes
Bank-owned homes and short sales make up a steady share of sales in towns like Mundelein, Wauconda, Waukegan and Lake Villa. They are sold "as is", often after sitting empty through an Illinois winter. Our Illinois foreclosures and bargain homes guide walks through the types of distressed sales, the inspection issues that show up most often, and the paperwork a buyer should verify before closing. Distressed properties are also more likely to carry unpaid taxes, old liens or recording errors, so it pays to work with an Illinois title company that searches the records and insures the title before you close.
Understand the inspection report
Most deals that fall apart do so over a handful of findings: a wet basement, a horizontal foundation crack, knob and tube wiring or EIFS siding. The articles by home inspector Tim Oglesby, Home Check America explain which findings are serious, which are cosmetic, and what typical repairs cost. Unfamiliar words in the report? Check the glossary of common house terms.
Selling a house in the northern suburbs
Buyers form an opinion in the first minute. Curb appeal, a clean and uncluttered interior and small repairs done before the first showing matter more than any ad. Our 20 tips for selling your house cover everything from dripping faucets to pets and background music during showings.