Foreclosure in Orland Park>Question Details

Op Resident, Both Buyer and Seller in Orland Park, IL

I have found a bank owned property on realty trac. However it is a mortgage company trustee who holds the property with no contact info

Asked by Op Resident, Orland Park, IL Wed Jun 2, 2010

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OP Resident,
I also am an OP resident. I'm a mortgage professional and I can recommend an awesome realtor to help cut thru the redtape and get you the info you need. Email me at ncoleman@envision3m.com or call me at 708-597-8884. Neil Coleman
Web Reference: http://www.envision3m.com
0 votes Thank Flag Link Thu Jun 3, 2010
Hi OP Resident,

Realty Trac will show activity on homes, but it does not mean the home is on the market. For example, if a borrower defaulted on there home and the bank who owns the property filed a notice of foreclosure or lis penden, etc, the borrower can still work with the bank to redeem the home. Also it can take months or even years for the property to even show up on the market. If you are looking for a great deal, speak to an agent and have them send you up to date listings of what is available. If you are looking for a foreclosure, I HIGHLY recommend that you work with an agent. It is very difficult to get a hold of some agents that list large amounts of foreclosures. A selling agent will be able to get you into these homes immediately. The best part of it all is that it will not cost you a dime! Hope this helps!

Cherrie Catama
Newman Realty
773.490.3437 Phone
cherrie@newmanrealtyillinois.com
0 votes Thank Flag Link Wed Jun 2, 2010
Keep in mind that RealtyTrac's information is not always accurate and oftentimes misleading--you could be looking at a lis pendens property--notice of default--some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties.
0 votes Thank Flag Link Wed Jun 2, 2010
Ignore anything you find on RealtyTrac.

Those aren't real listings. Many of those properties aren't for sale. Those that are usually aren't for sale at the price listed. And the reason there's no contact information is that RealtyTrac wants you to sign up for their services--to pay them money for that information.

Well, there's an easier and free way to get the information you need. Just contact a Realtor. If the property's really for sale, it'll almost certainly be in the MLS. (There are a few exceptions.) And the Realtor can provide you the information you need--address, price, and so on--at no charge.

Hope that helps.
0 votes Thank Flag Link Wed Jun 2, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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