tmgarney, Home Buyer in Downers Grove, IL

I have cash and I am willing to consider buying. please contact me

Asked by tmgarney, Downers Grove, IL Mon Sep 17, 2012

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This question is about this property: http://www.trulia.com/foreclosure/3091038787--Braemoor-Dr-Do…

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Answers

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Unfortunately this property is not offered as a foreclosure. The site you are looking at is explaining that a lien has been filed on this home and the foreclosure process has begun. When banks list their REO's they list the property with agents.

The home will go to auction prior to being listed as a foreclosure. If there are no outside bidders the bank will then take the home back. This process takes time.

The owners can still become current on this home by working out a payment with the bank. If the home does go on the market it may be listed as a Short Sale property first. Some people are choosing to not Short Sale their homes and deciding to stay in their homes until the foreclosure process is complete as this takes many months.

If you are interested in looking at foreclosures or Short Sales in the Downers Grove area I suggest you work with an agent that is verse in both.
Web Reference: http://laurakarambelas.com
0 votes Thank Flag Link Mon Sep 17, 2012
You are looking a pre foreclosure notices. The homewoner is in arrears and the foreclosure process has begun. If the property is listed for sale in the MLS you need and experienced short sale (SFR) realtor to help you navigate the negotiations and waiting period for this property. If it is not listed and the bank is moving forward, the house will be scheduled for a sheriff's sale. This an actual auction on the property. You will need cash to purchase the home and will not be permitted to view the home prior to the auction. There are many investors who do this all the time who will also be bidding on the property if it is a good value.
0 votes Thank Flag Link Mon Sep 17, 2012
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