In My Neighborhood in 60174>Question Details

donovan.arndt, Home Buyer in 60174

I would like to buy a foreclosed home in St. Charles or Carol Stream, what is the easiest way to do so?

Asked by donovan.arndt, 60174 Wed Oct 5, 2011

Help the community by answering this question:

Answers

10
First, hire an experienced real estate agent that your comfortable with and who is knowledgeable in construction and remodeling. You want to make sure you select a home with good "bones". Then sit down with your agent and have a discussion about what your end goal is. A good agent will be able to refer you to the right lender and be able to help you find the right house for you. The time you invest in these two steps will save you time, money and aggrevation. As well as make the whole process of buying a foreclosure easiest. Not to mention, you will be able to pick their brain for best renovations for the money, etc. I am an agent located right here in St. Charles. I've been in the real estate industry for over 18 years and am experienced in all facets including construction and remodeling. I feel I could bring you some real value. Give me a call 630.258.2263. If I can't help you out, I can hook you up with the professionals who can.
1 vote Thank Flag Link Thu Oct 6, 2011
Donovan,

Have you purchased your home yet? If not, I have access to the information you request for a number of homes in Kane County that are foreclosures. The number has grown since you first posted this request. Contact me at 224-805-2616 when you are ready to move forward.
0 votes Thank Flag Link Mon Aug 6, 2012
Probably work with an real estate agent who buy foreclosed home him/herself, on a regular base would be better.

K.K. Yan
REALTOR GREEN
Web Reference: http://kkyan.com
0 votes Thank Flag Link Thu Jan 12, 2012
Contact the only 24 hour realtors
Get approved in about 3 days for your no money or low money down programs, agents will assist with total savings on tax, insurance...while you shop for real estate, then we work everyday of the week guaranteeing you don't miss a new listing opportunity
Contact Rashad Carmichael, 773 505 4710
0 votes Thank Flag Link Sat Nov 26, 2011
You're getting great advice from the agents and brokers listed here so far.

I'll just add that dealing with a direct lender like Castle Bank means there's no middle man to fund the loan - you're dealing with the actual bank fuding the loan. We service your loan here and remain available to answer any questions even after the loan is booked.

I'm dealing with several foreclosure and short sale purchases and I love the FHA 203k streamline loan since they allow you to both buy the home and put up to $35,000 worth of improvements into the home before you move into it.
I can be reached at 630-877-HOME (4663) anytime or kmorris@castlebank.com
0 votes Thank Flag Link Tue Nov 22, 2011
Like my peers have mentioned:
1. Get a pre-approval - not a pre-qualification - a pre-approval from a lender. That way you know exactly how much home you qualify for.
2. Ask yourself how much work you want to put into the home - Do you want to deal with a fixer-upper that may be a ugly duckling but will be quite the prince or princess due to its location? Or is your idea of a fixer-upper some carpet change and paint? Depending on what type of foreclosure your interested in tell your lender so he/she can approve you for the right type of loan - a rehab loan vs. a traditional conventional or FHA loan.

3. Once you have your pre-approval find an agent that you are comfortable with - will listen to your needs are and will be willing to work with you within the timeframe you have decided on. They will set you up with an automatic prospect search from our MLS and then you can start your search knowing that you will be ready to put in an offer because you have already taken care of the mortgage issue.

Prepare yourself to deal with foreclosures - from homes that are in pretty sad shape to some that are in move in condition - they run the whole gamut. Just make sure you have really thought it out, do a home inspection despite the fact that you are buying "as is".

Some of the HomePath properties can be bought for as little as 3% down payment.

Good luck on your search and feel free to search on my website.
0 votes Thank Flag Link Wed Oct 5, 2011
Get a pre-approval from a lender or mortgage broker. Talk to Mike Krakowski w/ Quality Mortgage Lending at 630-470-6830.

Then talk to a few agents and pick one. You want someone who is honest and is going to point out what tey see. You will want to make sure you have a buyer's agent who is experienced with REOs and knows how they work - don't pick somebody who has never sold an REO property before.

Visit my website to get more info and to sign up for free tips and reports: http://www.tonysellschicago.com/free_reports.shtml.

Please call me, I would like to get more info from you to see if I would be a good fit for you.

Anthony Cavalea
Managing Broker, Able Realty
815-388-9300
773-368-5614
0 votes Thank Flag Link Wed Oct 5, 2011
Start working with a lender to get pre-approved and then find a licensed realtor, who can point you in the right direction. I'm based in St. Charles and would be happy to help. Feel free to call me directly at 630-345-7767
0 votes Thank Flag Link Wed Oct 5, 2011
Get a pre-qualification from a 203K Loan,
0 votes Thank Flag Link Wed Oct 5, 2011
I can send you a List of foreclosures from both areas. Feel free to e-mail me at gmetallo@comcast.net
0 votes Thank Flag Link Wed Oct 5, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer