We have heard this senario hundreds, maybe thousands, of times in the last few years:
If the Bank says it will 2 months; it probably will be 5 months. I have seen a year!
Up to you: If you are patient and really, really want the house; then be patient.
If you will kick yourself for waiting for nothing, and miss out on the deals the next few months; then walk away.
Waiting for the Trustee Sale is not much better; it will 3-5 months until that is Listed too.
There are a lot of houses out there, maybe a better home and deal will reveal itself.... more
En ese codigo postal tienes varios foreclosures , es un codigo que se ha visto afectado por numerosos foreclosures en los ultimos 24 meses.
Yo acabo de poner bajo contrato una casa renovada en ese codigo un foreclosure en muy buen precio ,
Llamame si quieres al 773-732-3100 o mandame un text
I am not an attorney and you should definitely think about getting one, or at least getting good counsel. But if you are pretty savvy and organized you can possibly do this on your own. Two things to do immediately:
1. Get on the phone with your bank ASAP. Your silence will lead them to believe you do not care. Open up a dialogue and see what options are available to you. A loan modification is quite a process but can be done. If you only owe a few months they may put it on the back end for you if you can prove ability to pay. Banks do not want to own real estate if they don't have to. If you can get to a branch that may also be a good start. Always helps to talk to real person. Can't hurt.
2. Absolutely keep the court date. It takes over a year for a foreclosure to go through. So get in front of the judge and tell him you are working it out. Time is on your side.
I wish you luck. If you are persistent you should prevail.
Ian Halpin / Broker
Jameson Sotheby’s International Realty
425 W. North Ave. / Chicago, IL 60610
O: 312.335.3220 / F: 312.229.9190 / C: 773.531.4479
email@example.com | www.jamesonsir.com... more
I can provide guidance on all fronts. My company is a full service real estate brokerage, general contractor and property manager. We own and operate 100+ of our own units and have been rehabbing properties in Chicago for 10+ years.
RpV Realty and Development
Email firstname.lastname@example.org... more
You need to speak with an attorney bwecause that is a legal issue and those folks do not respond on this web site. I think the landlord is out of luck because he is NOT the current owner. IF the redemption suceeds and he becomes the landlord once again he will need a new lease with you as the old lease is no longer valid since he is no londer the owner..........but again, this is a legal issue.... more
I am not aware that an Auction has anything to do with a Court. An Auction is just an alternative means of selling R E rather than using the MLS. Courts have nothing to do with it. The Seller....REO bank.......must have clear title in order to sell something whether it is via the MLS or an Auction. As long as the Seller has proper title, not sure why a court would get involved.... more
Most of the time when it says For Sale they are looking to sell and move on, not become a landlord. Most often the seller needs the money from the sale to buy something new and until they do they have no home if they rent it to you.... more
Chances are it sold for higher than list price; there's fierce competition out there amongst buyers so you may need to be even more aggressive on the next one! Make sure you're working with a full-time experienced Realtor who can guide you through this process. Best of luck to you!... more
You need to speak with an attorney about the various legal issues, but if you read the contract they require it should scare you away. You have no inspection, no attorney review which allows you to back out, no guarratee that you will get clear title, no nothing!!!! You need to do a lot of homework BEFORE you put a bid in and most folks do not know all the things they need to do to cover their ass.... more
I would recommend connecting with an agent who is familiar with the area - touch base with a few to feel them out and see who fits your needs.
There are a lot of qualified agents that will respond to this post so you should have no shortage of candidates.
Sam Sharp Senior VP of Mortgage Lending