In My Neighborhood in 60074>Question Details

Hiteshii Pat…, Real Estate Pro in Elk Grove Village, IL

I am wondering ahy this property in market for long time and so cheap. Is this location of lot of this property and is anyone have lived in this?

Asked by Hiteshii Patel, Elk Grove Village, IL Mon May 2, 2011

property before?

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Bank owned condos have a hard time getting financing due to under water HOA's and lender underwriting. I posted a blockshopper link to that subdivision and they allow rentals in there. That is a big no no for FHA loans and even conventional financing. Ask your lender if claremont ridge is on the approved FHA list, almost 100% positive it is not and check to see if standard underwriting is OK with it if tenant occupancy, % of owners 30 days delinquent, HOA cash reserves.
If you like my answer, thumbs up and select best answer. Call me if you care to discuss
1 vote Thank Flag Link Mon May 2, 2011

This is a bank owned property which means the owner defaulted on their payments. It is currently vacant but was lived in before. The bank is looking to get rid of all their inventory so they price it cheap so it will sell fast. Would you like to see this home? Please let me know, I can meet you there at your convenience.

Kathy Diegel
Coldwell Banker
Cell: 847-707-8907
0 votes Thank Flag Link Mon May 2, 2011
Addrees is 1138 N Claremont Dr, 60067
0 votes Thank Flag Link Mon May 2, 2011

In your inquiry you don't give the address. Please send the address you are asking about to and I will be able to answer your questions regarding the property.

Kathy Diegel
0 votes Thank Flag Link Mon May 2, 2011
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