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Serving the real estate needs of home buyers and sellers in Chicago's northside neighborhoods of Lakeview, Lincoln Park, Lincoln Square, North Center, Roscoe Village, Gold Coast, South Loop, West Loop, Bucktown, Wicker Park, Ukrainian Village, Ravenswood Gardens, Ravenswood Manor, Uptown, Edgewater and Andersonville.
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Whether buying or selling, a move can be stressful. The solution? An honest, trustworthy and dependable real estate broker with the experience and savvy to handle every detail of your situation. When you work with ESM Realty, we will do our best to make sure that you have a smooth transaction. But don't take our word for it, browse this site, it'll give you the chance to get to know us (Broker, Realtor) and experience our reassuring style first-hand with no obligations.
"Eric Marcus of ESM Realty goes above and beyond to help you find the home you are looking for. Despite the fact that I was a first time home buyer and what I was looking for was going to be very difficult to find in my price range, Eric spent a great deal of time researching new properties, arranging showings around my schedule, and clearly explaining the process every step of the way. Eric's efforts, patients, and knowledge of the Chicago market help me find what I wanted. He cares about his clients and executes with great deal integrity. Whether you are a first time buyer, or have bought and sold a number of properties, ESM Realty is the brokerage to use."
Stephanie Popper, Roscoe Village Tue Nov 16, 2004
"Thank you so much for assisting us with the purchase of our new home! You really helped make the entire process go smoothly and your tireless efforts were very much appreciated! We just love our new place!"
Christa Lopez & Mike Wittrup, Logan Square Thu Jan 4, 2007
"Eric did an amazing job selling my loft, and he did it quickly. The transaction could have been slow and difficult due to a large capital repair project undertaken by the condominium association, but not with Eric's skill and energy. He familiarized himself with the details of the project so that the property could be marketed positively and at the same time, with full disclosure of the issues relating to the project. Eric made certain that all of my needs were met. I can't thank him (or Michelle) enough."
Harold Hilborn, Near South Side Fri Jun 2, 2006
"We didn't know Eric before we decided to list our condo for sale. Eric was recommended to us by another agent. When he came to our home to give us a presentation we knew immediately that he was a charming and likeable person. He and his team did an outstanding job selling our condo. He was on top of every single thing all the way to the end. He pulled off a challening deal that was very profitable to us. We are very thankful to him."
Daniel & Julie Prieto, Gold Coast Sat May 5, 2007
"I want to thank you very very much for your help, advise, patience and sense of humor. I feel very lucky to have met you and that I had your help during this long process.--"
Isabelle Louis, Humboldt Park Sat Dec 8, 2007
"Thank you very very much for all of your patience, hard work, and all your knowledge you have passed down to us. We couldn't have done it without you. Thanks again."
Nikki & Devin Quaid, Wrigleyville Mon Oct 1, 2007
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Trulia Voices!
That unit sold in June 2008 for $178,000. There are other units available in the building. Let em know if you would like some more information.
Eric Marcus
ESM Realty
Your Real Friend in Chicago Real Estate
773-244-1110 - Tue Oct 28 2008, 12:52
Frustrated,
You have a couple of different issues going on here.
Regarding the inspection, you should do the inspection now. Your contract is with the seller, not with the bank. Since it sounds like you have a signed agreement your clock is running on when you can get the inspection. Typically, the inspection will take place within 5-10 business days after contract. If you have issues with the home you can address them now with the seller (and consequently the bank) or you can most likely back out of the deal if your inspection clause was worded appropriately.
If you wait a month for the bank to approve the short sale and you have not had it inspected - your deal might be locked. What are you going to do if you find a huge foundation crack or radon in the basement or that the building needs a whole new roof? Wouldn't it be worth $300-400 to avoid that even if there is some chance that you won't get the house eventually. Isn't it better to risk $300-400 for the potential to save tens of thousands of dollars. I think so. Its interesting that you said the listing agent wants you to get the inspection - it is your agent that should be encouraging you to do the inspection - your agent should be looking out for your best interest.
Regarding the earnest money, your agent should have mailed or delivered the check immediately (same day or next day) after the contract was signed. In many cases, the contract calls for delivery of the earnest money with the original offer, but in practice here in Chicago agents wait until they have a deal. My guess is the listing agent thought that it was 3 days after contract and they did not have an earnest money check so they put it back on the market since technically you were in breach of contract. My guess is when they get the check they will mark it back as under contract.
Before you say the other agent is being unethical you should read the contract that you prepared and signed See what it says regarding the inspection and the earnest money. The contract is what everyone is relying on and its instructions should be followed.
I hope it all works out in the end for you and you end up getting a great place for a great price.
Eric Marcus
ESM Realty
Your Real Friend in Chicago Real Estate - Fri Sep 12 2008, 20:36
Frank,
You are going to receive a lot of answers on this one!
Of course I would love to help you sell your place with our outstanding marketing program. We have helped clients in Bucktown, Wicker Park, Ukranian Village, Lincoln Park, Lakeview, North Center and more.
if you are looking for the statistics on who has the most sales in Wicker Park and who has the best list price to sales price ratio, I can work the database to come up with the answers so you can make your own decision. I won't advertise for another broker on a public forum, so you'll have to give me a call at 773-244-1110 and I can send you the unbiased results straight from the MLS.
Best of luck! Eric - Tue Sep 9 2008, 19:26
C.boss,
Chicago is a fantastic city! You can find out more information about our public schools at:
http://schoollocator.cps.k12.il.us/
Below is an interesting article I received yesterday from a parents group whose mailing list I am on If your child will enter preschool or elementary school in fall 2009, it's not too early to start learning about your options.
http://www.npnparents.org/stories.asp?title=Insiders+Guide+t…
Its a great time to be a buyer in Chicago, especially if you want to take advantage of the Euro v the Dollar.
Please contact me directly if I can be of more assistance. Best of luck!
Eric Marcus
ESM Realty
Your Real Friend in Chicago Real Estate
- Thu Sep 4 2008, 10:53
David,
If you are buying in the City of Chicago up front you can expect to pay:
0.75% of the purchase price for city tax
$600 for a settlement fee (for the closing company)
$500 attorney fee
A few months of real estate taxes to start your escrow depending on what lender will require
$600 title insurance for your mortgage company
$350 appraisal fee
Lender charges (disguised as application fees, loan funding fees, underwriting fees, etc.) This should not be more than $1,000 (and could be as low as zero) unless you are paying points to buy down a loan.
$100 for Recording Fees
$200 in miscellaneous fees
Your lender should provide you with a GFE (Good Faith Estimate) which will go over these charges.
Then in addition to your monthly mortgage payment you will have:
Insurance (Around $1000-1500/year). This will be need to be paid prior to the closing.
As a buyer, you may negotiate with the seller to pick up the tab for many of these items. There are many variables involved and much of it depends on what you are looking for. I would love to help you more if I have some more specific information.
Eric Marcus
ESM Realty
Your Real Friend in Chicago Real Estate - Thu Aug 28 2008, 14:07
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