We hear from lenders and Illinois REALTORS® about what it takes to get to the closing table given today’s stricter lending standards in the cover story “Buying a Home in Tight Money Times” for the April Illinois REALTOR® magazine. In the simplest terms patience and pre-approval hold the key, although many REALTORS® working in the trenches know that pre-approval can be anything but simple unless the borrower has good credit and provided the building—in the case of a condo in Chicago—is not on the “ineligible list.”
Today you can view the entire issue online at illinoisrealtor.org or flip through the digital magazine from your iPhone, iPad, Android device or BlackBerry. Here are more highlights:
- View the “Step-by-Step Guide to License Transition Period” video featuring IAR Legal Hotline Attorney Betsy Urbance—a special feature of the digital edition.
- Short sales are complicated and can take a lot more time to get from offer to contract, to close. In our “Short Sale” feature you’ll learn some best practices offered by instructor Lynn Madison, co-author of the National Association of REALTORS® Short Sales and Foreclosure Resource Certification (SFR) course, as well as Illinois REALTORS® with experience in the short sale transaction.
- Common questions posed to the IAR Legal Hotline (and the answers) related to property management per the Illinois Real Estate License Act of 2000, such as “Do I need a real estate license to engage in property management activities?”
- Tips from Illinois top producers for generating more business in a tough economy.
