Home Buying in 60618>Question Details

DFiz1, Home Buyer in 60614

Finding comps for a bank-owned two-flat pre-listing?

Asked by DFiz1, 60614 Mon Jan 14, 2013

I'm trying to find comps for a bank-owned two-flat in North Center. The property isn't on the market yet, and I'd like to be able to find this information myself before it does go on the market. I can't find many resources that provides comps for two-flats in the area; I'm either seeing everything in the area (not really comparable) or nothing. Any specific resources I should be using? And yes, I understand a buyer's agent will be able to help - but we are in an unique situation and would like to get this information by ourselves. Thanks in advance for everyone's help!

Help the community by answering this question:


Hi there. Give me a call or email with the information and I can have my appraiser frined look it up for you no cost. Just keep me in mind if and when you plan on purchasing.

Sean Cochran
Quality Mortgage Lending
0 votes Thank Flag Link Mon Jan 14, 2013
Your "unique situation" is going to limit what information you can get on your own.
The specific resource you should be using is called a Realtor.
1 vote Thank Flag Link Mon Jan 14, 2013
email me at jmichaels@remax.net and I will send you the information I have on this
0 votes Thank Flag Link Wed Jan 16, 2013
email the address at jmichaels@remax.net and I will send you what I have
0 votes Thank Flag Link Tue Jan 15, 2013
The resource you are looking for is a Realtor.

Best of luck,

Ivan Sagel
0 votes Thank Flag Link Mon Jan 14, 2013
If you dont want to use an agent, try looking up comps on these sites such as trulia, zillow, etc, but they arent accurate.
0 votes Thank Flag Link Mon Jan 14, 2013
you must sit down with me in my office before you start playing the role of a professional. I am worth my weight..270 lbs in gold and get in here quick I have been dieting and will be a fierce warrior at 250 soon enough and you will have lost 20 lbs of gold
0 votes Thank Flag Link Mon Jan 14, 2013
Hi Purchaser,

While I agree with Sam you can hire a local appraiser which you will have to front the cost. If you are looking to purchase I would recommend you work with a Broker who can run you the comps of what has sold in the area you are looking to purchase.

I will tell you the minute that 2 flat comes on the market in North Center it will have offers almost immediately from investors.

Manuel Brown, Broker
iMove Chicago
0 votes Thank Flag Link Mon Jan 14, 2013
Hello Dfiz
You could contact a local appraiser and ask them to run the information for you - It will cost you a fee, but it would be a reliable source
Sam Sharp
Senior VP of Mortgage Lending
Guaranateed Rate
773 290 0455
0 votes Thank Flag Link Mon Jan 14, 2013
If you are not planning to use an agent then it is a bit more difficult to find good comps. Zillow/trulia/realtor.com have the ability to search for sold listings, but in a very vague/general way.
However, it is not possible to simply put your offer in 1st and expect to win. These banks understand that it can take a few days to see how popular, or not, a property is, so they wil just sit on the 1st offer for a day or 2 until they see if others might be coming in.
If the list price is too high and your offer is 'reasonable' based on real comps yet more than 10% below what the list price is, the bank will ignore you. Being first does not work like it use to before the Internet came along.
0 votes Thank Flag Link Mon Jan 14, 2013
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