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Home Buying in Waukegan : Real Estate Advice

  • All62
  • Local Info6
  • Home Buying17
  • Home Selling0
  • Market Conditions4

Activity 15
Sun Dec 8, 2013
The Michael Lescher Team answered:
The lowest priced 10 unit I found listed in the Multiple Listing Service in Waukegan is $379K. Let me know if I can be of further help.
0 votes 1 answer Share Flag
Fri Nov 22, 2013
John Walin answered:
CH 13 one year with what other conditions? Can a person have a 65% DTI? Or in a job less than one year. And what about cash reserves requirement? Geeez, Hard for a non bk buyer to get a loan, and frankly I am ok with someone having to wait longer than 2 years for the privilege of home ownership. Not a right, a privilege. ... more
0 votes 6 answers Share Flag
Fri Nov 22, 2013
John Walin answered:
I see a lot of strategic default and sellers faking a hardship to not bring money to close. The bank will go along with a short sale easy peezy if the seller is willing to sign a note for the deficiency amount. Problem is, who wants to bring 20k to pay off their mortgage when they already lost their down payment! Sellers are going for zero deficiency judgement and want the bank to eat the loss when the seller is trying to hide assets and can afford the monthly payment.. ... more
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Sat Aug 24, 2013
yvette answered:
Contact us, we have a network of developers who might be interested in working with you.
0 votes 2 answers Share Flag
Thu Jun 27, 2013
Gary Geer answered:

You need to conatact a lender and get prequalified or preapproved for your loan. This will establish the price range of homes available to you for your budget. With that information your agent can find a home for you. In addtion to traditional lenders credit unions can also help. All the best in finding a great home.

Gary Geer
Results Realty
... more
0 votes 2 answers Share Flag
Thu Mar 28, 2013
Geoff Ommen answered:

What exactaly are you looking to do? A lease, or a lease option? Have you looked into the possibility of getting a mortgage? I work with investors that sometimes facilitate these sorts of transactions. If you would like to, please reach out.

Geoff Ommen
Broker Baird & Warner
... more
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Tue Jan 15, 2013
John Walin answered:
Thu Dec 29, 2011
John Walin answered:
Wed Jun 29, 2011
John Walin answered:
Answered your other same question and see you reposted. As Michael L. stated, if you are an agent, why you having trouble searching MRED?
1 vote 4 answers Share Flag
Fri Mar 25, 2011
John Walin answered:
focus on fannie mae and freddie mac foreclosures and skip the sheriff auction. Homesteps properties offer clear title eand none of the baggage of an auction property.
1 vote 4 answers Share Flag
Thu Dec 3, 2009
JoEllen Schlesinger answered:
There are some great programs, including a way to use up to $6,000 of the $8,000 income tax credit as an interest free loan to help assist qualified buyers in purchasing their first homes. ... more
0 votes 3 answers Share Flag
Tue Jul 28, 2009
The Michael Lescher Team answered:
I oversee the RE/MAX office in Waukegan. If the Seller signed (not verbally accepted) your offer the listing agent is bound by MLS rules to change the listing status to "contingent". Your agent should insist on this, contacting the MLS if it is not done. Unless the contract states otherwise (and it rarely does) the Listing Agent can continue to market the property, disclosing that it is under contract with contingencies, and forward any other offers to the Seller (and lender). Whether they can accept another offer and cancel yours depends upon the specifics of your contract. Only your attorney and Realtor can offer advice on that . Good luck. ... more
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Mon Jun 29, 2009
Eric Egeland answered:
Hi Ria24,

It is a case by case thing. A lot of it will depend on how competent the listing agent is & if they filed the correct paperwork from the beginning. Some can move along very quick but others can get really dragged out even if everything was done 'properly'.

The asset manager may 'approve' the contract but if the seller has multiple liens the closing itself can get dragged out, because these liens need to be settled.

Eric P. Egeland
Broker Associate
... more
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