Looking for a short sale, pre-foreclosure, foreclosure, or RE0 in the Long Grove area
Every buyer in Long Grove or for that matter any of my clients wants a deal . Depending on the particular situation, deals can most definitely be had, sometimes in the form of a short sale purchase , a true foreclosure, or in my case my favorite kind of deal is just a very motivated seller.
In case you want to try the Long Grove foreclosure route, I have the experience to make this transaction as easy as possible. I have provided to the right, a partial list of the pre- foreclosures foreclosures and bank owned property ( REO's) in the Long Grove area. If you would like more information about the exact address and the specifics of the Long Groveproperty, please do not hesitate to call me.
If you aren't familiar with the difference between pre- foreclosure or REO( banked owned) I explained the terms below
Pre-Foreclosure (often a short sale)
In this scenario the seller still owns the house is behind on their mortgage and the lender has begun foreclosure action. It is a "short sale" because the lender would have to agree to accept less than what is owed in order for the sale to close. In most, cases due to the pending foreclosure judgment, there is a time factor as the seller races the lender who is likely working on foreclosing on the house even though the seller is trying to sell it.
Short sales are great for people who have patience, do not get too emotionally tied up in the deal and might not want to deal with repair work in their new property . Since the owner still is living in the property, one of my concerns is the condition the sellers will be leaving the property in at closing.
Foreclosures (bank owned properties or REO's that have already been foreclosed on by the lenders)
In this scenario, the lender has already foreclosed on the house and taken it back and put it back on the market. The bank is the new owner and seller... The foreclosed on house will be vacant and possibly in need of repair work such as new appliances. I have seen many kitchens that are completely gutted
Foreclosures are often sold at a greater discount than short sales and you normally receive an answer quickly (even in a day or two). My advice to you is that you should only buy a foreclosed property if there are relatively "FEW" foreclosures in the neighborhood. .You do not want to buy a foreclosure where there are "MANY" foreclosures in the neighborhood.
Buying and selling real estate in Long Grove or the surrounding Northwest Suburbs, especially short sale and foreclosure properties, has it's challenges but in many times can be rewarding. I have recently purchased a bank owned home for my clients, at a price way below the appraised value. I myself have worked on both and have the knowledge and expertise to make the foreclosure transaction as easy as possible. If you are planning to buy or sell a property anytime soon, give me a call and we'll see what the best solution for you will be.
The above information regarding was provided by Judy Greenberg, Realtor with Coldwell Banker Residential Brokerage
Judy's websites, www.buffalogrovehomes.com and www.judygreenberg.com provide all the information regardless as to whether you are a potential buyer or seller of Foreclosed properties.
Judy can be reached at 847-602-5435 or via email at info@buffalogrovehomes.com. Judy has helped people move in and out of the Chicago Northwest Suburbs. including but not limited to Lake Zurich, Vernon Hills, Long Grove, Kildeer, Buffalo Grove, Lincolnshire, and Wheeling Illinois
Thanks for explaining the difference between short sales and foreclosures, Judy. So many consumers are confused by the difference. A short sale is not a QUICK sale!
Thanks Pat, People think that short sales are easy and quick. You are absolutely right, they are not that at all.
Hey Judy...you're on top of it all. Anyone in Illinois would be getting greatness by working with you. I'm still working on getting some of my clients to you.
Hi Judi, Great post. A short sale may be short in some ways but timewise, it is a long sale. Just being silly here. :o)
Hi Judy. I still have not copied this format for a post.
But I still like it.:)
Thanks for writing,
Ken
Hey guys, Larry, Shirley and Ken- thanks for checking in.... Hope you have a great week!