How to go about Searching the right homes with Chicago Foreclosure Listings
Make use of Chicago Foreclosure Listings to make a good foreclosure investment in Chicago. For searching right homes use criteria such as geographical area, price, number of bedrooms etc. Then consult professionals to get an assessment of the property, ascertain the true value of the property and make an offer to the owner or the trustee.
The first task in investing in Chicago Foreclosures is going through Chicago Foreclosure Listings to find the right foreclosure home. Log onto Chicago Foreclosure Listings websites. And use their detailed search engines to narrow down to a few from the thousands of listings.
You will be able to view different kinds of foreclosures like pre-foreclosures, auctions, foreclosures and bankruptcies.
Once you have arranged the main page, you can sort results by date of listing, price or address.
Options to sort include by number of bathrooms and bedrooms but these can be done at the last stage.
Once you have zeroed down to a few properties, get a look at their photographs and get detailed information about them.
Next step is to do your research on the property. Take a drive down to the neighborhood to get a feel and look of the property. It is wise to contact a real estate professional at this stage to give you tips on making a foreclosure deal. Especially for a first time inexperienced homebuyer, consulting a professional will be really beneficial.
The next task is to consult the owner or trustee. The Chicago Foreclosure Listings provide detailed information about how to contact home owner before foreclosure or the trustee of a public auction or a bank representative. Contacting the owner or trustee requires patience and persistence. The first contact is better done through postal mail or e-mail.
Contacting the owner may have its share of trouble. Initially he may be rigid, but as the date of foreclosure nears, he becomes more pliant.
Contacting the trustee of the property is simple. Usually the trustee will be ready with all the information regarding the property. They may even schedule a first hand inspection or visit to the property. It is wise to do all this before the property goes to auction.
The final task is to decide on an offer, before making an offer hire an appraiser and contractor to examine the property and ascertain its real value minus costs of repair and maintenance. You should keep in mind your maximum bid and never bid beyond that point as it will result in loss.
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
Fiona Livnat is an author with expertise in real estate foreclosures. She has over ten years of experience in writing about foreclosures.Her commitment to help people is reflected in her writing. For more details please visit Chicago Foreclosure Listings