Hi Fran,

REOs/foreclosures are far les complicated than short sales from the perspective of a buyer. With a short sale, you have to wait until the seller's lender approves the short sale before you know if you really have a deal you can count on and sometimes this can take months. With a bank-owned property, you are only really dealing with the seller (who happens to be a bank), they can make a decision on whether to accept your offer, usually within a few days and once that decision is made, it is much like any other transaction - you have your home inspection, attorney approval and get your financing in place, then close.
The bank-owned properties are sold as-is but you can still have your own inspection to determine if the condition is acceptable to you as-is. The only other advice I would give about the bank-owned (REO/foreclosure) properties is that many of them are sold with multiple offers, often at or above full asking price and that they will try to accumulate competing offers for several days before giving you an answer.
Any questions, please let me know.

Marion Digre
Broker/Co-Owner
Accredited Buyer Representative (ABR)
Certified Distressed Property Expert (CDPE)
Remax In The Village, Realtors
189 S. Oak Park Ave.
Oak Park, IL 60302
708-386-1400 Ext. 111 http://www.MarionDigre.com

Hi again Fran,

Yes, REO's and foreclosures are very similiar to short sales. It is not that short sales are complicated, it's just that they take time and a lot of patience. I can show you all, short sales, foreclosures and REO's. You won't go wrong with me I promise. Besides, my fee to you is FREE for buying a home. You have nothing to lose and everything to gain. I have listed homes and sold homes in the Ashburn area so am familiar with that area. I can also send you emails in other areas too. Call me and at least let's talk, 708-533-0515.

Waiting to hear from you,
Carmen Keslin E-Pro
ReMax 10 In the Park
708-533-0515
truila@CarmensHomes.com

Fran:

A majority of our clients are purchasing homes now that are in foreclosure. Very rarely do we have a client view a home that is not already in foreclosure. We work closely with Scott Wiley of Home Buyers Realty. His number is 630-248-6271. He seems to know what he's doing when it comes to these types of properties. We haven't had any problems with his deals.

On the loan side, we have a product called a 203k loan. It's a rehab loan that allows you to purchase the property + have money for the repairs that are commonly needed in a foreclosure type of deal.

If you have any questions on this type of loan, or anything at all with foreclosures, please don't hesitate to contact Scott or myself.

Kurt Clements
Senior Vice President
GSF Mortgage Corp
3933 75th Street
Aurora, IL 60504

Office: 630.806.7016
Cell: 630.430.1091

kclements@gsf-mortgage.com http://www.gsfgovernmentloans.com