Foreclosure in Kenwood>Question Details

Ghislaine, Home Buyer in Chicago, IL

We own in the Kenwood neighborhood & are interested in purchasing a single family home (preferably foreclosed).

Asked by Ghislaine, Chicago, IL Fri Jun 1, 2012

We have not been preapproved yet but have exellent credit scores. Is there an agent interested in showing us homes and working with us?

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Answers

12
Get Pre Approved first so you know how much you can afford.

Then, work with a Realtor. Many properties exist, but keep in mind that even though you may qualify for the loan, the property may be in such disrepair that the bank will not loan money for it.
0 votes Thank Flag Link Fri Jun 8, 2012
Hi Ghisiaine,

I am interested in showing you homes and working with you. Please feel free to contact me and I will give you suggestions on how to make this happen.

Regards,

Terry 773-443-8155 direct line.text
house2homeChicago@gmail.com
0 votes Thank Flag Link Fri Jun 1, 2012
First thing is first, you need to get a pre approval. It takes a second to do so. This way you will know what you can afford. Then from there, get a good buyers agent. This way you have someone to walk you through the process at no cost to you. Interview two or three agents.
0 votes Thank Flag Link Fri Jun 1, 2012
Definitely follow the good advise of my fellow professionals and once you are pre-approved for a loan give me a call, I have great properties to show you that may fit your criteria.

There are several advantages of having a loan approval; the main one is that you are not wasting your time on a purchase you may not see happen, but the other important one is that because you are not the only one looking to buy, you add leverage to your offer and become a credible competitor buyer and your chances of getting an offer accepted become real.

Mario Salcedo
Pacific Real Estate Inv.
310-275-8700
0 votes Thank Flag Link Fri Jun 1, 2012
Pre-approval would be the first step so you know how much you can afford and then choose an agent who you want to work with like myself.
0 votes Thank Flag Link Fri Jun 1, 2012
Ghislane,

Until you've been pre-approved, most realtors will not feel comfortable showing you another home. There are, as someone else mentioned, hurdles to obtaining financing in your situation, and the following questions will need to be answered:
Are you planning on selling or renting your current home?
How much equity do you have in your current home?
Do you have any landlord experience?
What kind of reserves will you have in place after purchasing the foreclosure?

Having great credit is only one step in the process. If you'd like to discuss the next steps, please feel free to give me a call, or complete a FREE on-line application by clicking on "start the process" at my website.

Sincerely,

Matt Bukovy
Senior Mortgage Consultant
Wintrust Mortgage
773-416-7107
Web Reference: http://www.mattbukovy.com
0 votes Thank Flag Link Fri Jun 1, 2012
Ghislane,

Until you've been pre-approved, most realtors will not feel comfortable showing you another home. There are, as someone else mentioned, hurdles to obtaining financing in your situation, and the following questions will need to be answered:
Are you planning on selling or renting your current home?
How much equity do you have in your current home?
Do you have any landlord experience?
What kind of reserves will you have in place after purchasing the foreclosure?

Having great credit is only one step in the process. If you'd like to discuss the next steps, please feel free to give me a call, or complete a FREE on-line application by clicking on "start the process" at my website.

Sincerely,

Matt Bukovy
Senior Mortgage Consultant
Wintrust Mortgage
773-416-7107
Web Reference: http://www.mattbukovy.com
0 votes Thank Flag Link Fri Jun 1, 2012
Definately get pre-approved first. At the same time, interview a few agents who know the area like myself and go with the one you mesh with best. Have a great day.
Regards,
Jesse McGrath
@properties
312-545-2775
jmcgrath@atproperties.com
0 votes Thank Flag Link Fri Jun 1, 2012
You will be very popular. There usually are plenty of foreclosures in that area, but the potential issue is that they might need more work that you can deal with or the bank will not make a loan because of the work needed. My web site has lender references and you should speak with a few of them to get an idea as to what you canb afford and then find an agent and start looking. I can help also.
0 votes Thank Flag Link Fri Jun 1, 2012
Your first step should always be obtaining a pre approval from a qualified lender regardless of your credit scores.
There are a lot of changes and restrictions in todays market that you may not be aware of that could result in issues obtaining financing.
DO yourself a favor and get pre approved first
Sam Sharp
Senior VP of Mortgage Lending
Guaranteed Rate
773 290 0455
0 votes Thank Flag Link Fri Jun 1, 2012
Hi Ghislaine,

There are some beautiful homes available in Kenwood. When are you available to look at a few? I can recommend some great lenders to talk to about the pre-approval.

I look forward to working with you,

Ivan Sagel, ABR, SFR
312-515-7823
IvanSagel@DwellOneRealty.com
0 votes Thank Flag Link Fri Jun 1, 2012
Yes, I would be interested in working with you and we share our commission with our buyers. You can find out more about us on our Web site and you can call me at 312-738-0232.
Web Reference: http://LucidRealty.com
0 votes Thank Flag Link Fri Jun 1, 2012
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