Are you looking for a great deal on a home to live in or for an investment?

Then you found the place to do it.  I have access to all the Foreclosed, Bank Owned, Short Sale and HUD homes.

You can search for these homes in my PROPERTY SEARCH tab above and through special links that I set up below.

These homes do move fast if they are a bargain and most are.  If you are making a purchase to live in it, you will have priority.  If you are paying cash and you are an investor you are second in line.  If you are financing you must be pre-approved for any purchase.  I can get you pre-approved through my finance expert.  Just contact me for the details.
If you are financing through FHA then they have a 203k plan that will loan you extra money to do the renovations while you live in the house.  This plan has limitations but, it is great for the home buyer needing that extra money to fix up the house. Once again, my finance guy has the details and expertise to help you on that one.  Call for details.  Absolutely no obligation.

INVESTORS.

I am always looking for a silent partner to help finance my projects.  I even partner up with people that want to get their hands dirty and help with the renovations.  If you are interested in either of these please give me a call so we can discuss.

Most of the homes found in this category are usually in dire need of repair.  Since I am a renovator I can give you a bid on repairs for any property that you may want to purchase.  Also, since I am a Home Inspector I can tell you what the condition of the property is and I can base my bid on my findings.  I have more detail in the next paragraph labeled PRE-LISTED HOMES.
This service is available for a small fee unless you purchase the property from me, hire me to do the repairs or become a partner for that particular purchase, then it’s free!

If anyone wishes to take on their own project to purchase and renovate their own home or purchase, I am available to consult on the entire project as needed.  I can help you or just guide you (or both) with your project.

PRE-LISTED HOMES.

I also maintain a list of pre-listed homes that are Foreclosed. These are homes that are not on the MLS yet because the banks have not determined the asking price but, these are vacant and accessible to me.  Time permitting, I try to view these homes ahead of time and put together a list of items that need repaired or replaced and the cost.  I will then do a  comparable (that is find homes that are equivalent in the same area that have sold recently)  to determine what I think the house will sell for when renovated and placed on the market.  This allows me to determine what the top price is that I would pay for the house in question so once the bank releases the asking price I will be ready.
My homes usually sell quickly because they are as good as new and they are priced right.  Pricing a finished home with the comps is the trick because it is almost always in better shape (like new)  and more attractive with no work to be done by the buyer.
I will do this service for free for anyone wanting to purchase one of these properties through me.

SHORT SALE HOMES.

Homes that are listed as Short-Sales are a little different animal.  In a nutshell, these are homes that are still occupied by the home owner and are working with the banks to sell their property below what the balance of the mortgage is because they cannot manage the payment any longer for whatever reason.  These are homes going into Foreclosure if the house does not sell.  This usually takes months for the banks to approve this action and does require the house be on the market for a certain amount of time to prove to the bank that it will not sell at a price where the home owner can break even.  When the house is marked as a Short-Sale then you can make offers at a price you feel is the value for that home in today’s market.  That offer can be presented to the bank and they will review it to determine if it would work for them.
Bottom line is you need to be patient when dealing with a Short-Sale.  If the listing is marked as “Bank Approved” then most of the paper work is complete and it should move along much faster. Keyword is “should”.  Remember, patience!

USE CAUTION!

If you do a search for foreclosed properties on some other Realtor website, be sure you are getting correct information and listings.  I have found many sites have these searches, but they are not correct.  Among other things they are set up to find the word “Foreclosed” in the description of the listing somewhere and that is not accurate.  They miss the actual foreclosure listings that are identified in a special field plus they pick up ones that are truly not foreclosures.  Some listing Realtors like to insert the words  “this is not a foreclosure”  in the description of their listing because of the low price.  This will get picked up in the search and displayed in the results.  This is also true for Short-Sale homes.  So please beware.

SEARCHES:

Foreclosed homes listed on the MLS—->   Foreclosed Homes

HUD properties (FHA Foreclosed Properties)—>       HUD Properties (outside of my website)

Foreclosure listings from my Realty World office —->  REO Homes (outside of my website)

Short-Sale properties listed on the MLS—–>   Short-Sale Homes

Please Note; Due to ethic reasons, as a licensed Home Inspector in the state of Illinois, I cannot perform an official Home Inspection for any properties that you would purchase through me.  That means I cannot provide an official Inspection report for you to provide to your attorney.  I can only do an unofficial inspection for myself to help in my bidding process.
However, I always recommend that you hire a Home Inspector for your purchase.

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