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Foreclosure in Chicago : Real Estate Advice

  • All5K
  • Local Info373
  • Home Buying1K
  • Home Selling264
  • Market Conditions100

Activity 363
Tue Feb 14, 2017
Andrew Carpenter answered:
Have you previously invested in commercial property? Are you intending on managing the commercial or residential property by yourself or have a management company do it for you? I would be happy to help you with investment strategies. I have come across more than a few great deals while working with other clients that were looking for properties to live in instead of rent out. ... more
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Thu Feb 9, 2017
Andrew Carpenter answered:
I would be happy to take you on a showing but I would need to know what unit you're referring to and I would like to talk to you about your needs first.
0 votes 1 answer Share Flag
Wed Feb 8, 2017
Alysse Musgrave answered:
If there is a written, executed contract then no. They can't cancel. If it's just a verbal acceptance - yes. Everything needs to be reduced to writing in order to create a binding contract.

Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.

Alysse Musgrave
Consumer Advocate/
Exclusive Buyer Broker

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You!
... more
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Thu Jan 12, 2017
Gcobb7626 answered:
If a home has been sold in auction even though and there are two arguing family members in the one family member was able to buy the house back in auction how is it able that the other parties attorney has decided that he is not going to take off the lock box for the first party to be able to get in the house is that legal ... more
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Fri Jan 6, 2017
Alan May answered:
It's been pretty darn cold, over the last several weeks, here in greater Chicagoland. I'm going to assume that since you left your house in August... you probably didn't continue paying the heating bill, and that resulted in burst pipes (a foreseeable consequence in this region).

I'm also going to guess that the bank is going to be none too happy to hand over a deed in lieu, only to discover a seriously damaged home... when they were anticipating a 'move in condition' home.

I also have to question whether your insurance will even cover the damage, if you didn't keep the heat on ... or lowered it so that it caused the pipes to burst.
... more
0 votes 2 answers Share Flag
Fri Nov 18, 2016
Tina Smith asked:
Tue Nov 15, 2016
Vern Herrman answered:
I too am bidding on a short sale house and I have found out that the listing agent has a bid on the house as well. I think this is crooked as hell because he can see every bid that comes through and just bid a little higher. I don't get to know other peoples bids so this gives him a very distinct advantage. An unfair advantage!!! ... more
0 votes 25 answers Share Flag
Sat Oct 29, 2016
Lhanich asked:
SO is feeling much better after about 8 years of on/off health issues, to say the least during that time we have suffered financially, home in foreclosure, looking into bankruptcy, etc.…
0 votes 0 Answers Share Flag
Thu Jul 28, 2016
CharisseTyler asked:
Fri Jul 22, 2016
Isabelbast2 answered:
Good blog post . Apropos , if your company requires a IRS W-9 , my friend encountered a blank version here
0 votes 19 answers Share Flag
Thu Jul 21, 2016
Bob Brandt answered:
It is not true. I have many clients that I helped buy homes from Fannie Mae and they owner multiple properties and homes.
It was rejected for some other reason.
0 votes 1 answer Share Flag
Mon Mar 21, 2016
Roziegerci answered:
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Wed Feb 10, 2016
Trujillo answered:
Deutsche Bank
60 Wall Street
New York, NY, USA
0 votes 9 answers Share Flag
Sat Jan 30, 2016
Sherry Anderson answered:
It's really unfortunate that Freddie Mac still won't accept contingencies based on a client's home selling even in this market in California. Just goes to show you the banks will still play by their own rules. They would rather take a cash offer from an investor that will just flip the house. When they could open up the opportunity to good local buyers that want to make it a home. ... more
0 votes 11 answers Share Flag
Tue Dec 8, 2015
Alicia O'Toole answered:
How frustrating! Check out the city's website:
and call the hotline to get more information on your rights as a tenant in Chicago.

If you need help finding a new place, let me know, and I would be happy to assist.
... more
0 votes 2 answers Share Flag
Fri Oct 16, 2015
thinz answered:
Not uncommon if there are competing bids on the property...Homepath has become much more competitive in the bidding process in the past 3 years. You can still get a good deal, especially if you buy something already rented out that requires no reno work. Instant cash flow as long as you get something where the numbers work. The bigger issue is Chicago is not going to be as affordable as other locations...Are you looking to purchase to live in or as an investment? If to invest in, preference could be given to owner occupied purchase for a lower amount than the listing price...but again, if there are competing offers for owner occupied, homepath will instruct the agent handling the listing to show them full price offers only, if none, they will look at reduced offers....
Good luck. Tom Hinz
... more
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