Buying A Short Sale House| Chicago Short Sales
Chicago Short Sales and the clients who want to buy Short Sales are todays Chicago Short Sales post topic! Just like the old saying: "nothing in life is free" says, Chicago Short Sales and Suburban Short Sales are no different. There are several short sale properties out there that are GREAT DEALS, but you need to put in the time and the work to get the great deal!! If you are currently looking to buy a Chicago Short Sales property or suburban short sales, there are a few things you need to know before entering into a short sales contract.
1) Don't get annoyed if the bank isnt giving you a timely response!
This is one of my biggest pet peeves with buyers.. You know that short sales take significant time to get approved by banks, yet you still get aggravated when you have to wait. As a buyer, you are at the mercy of the bank. If you are not patient, then short sales might not work for you
2) Dont ask to speak to the bank yourself
As a buyer, you cant speak to the bank to find out whats going on or why it is taking too long. Besides being in bad taste, the bank wont tell you anything because of privacy laws! Dont waste your time.. The last thing you want to do is annoy the bank thats is responsible for approving the short sale
3) Dont ask for credits on inspection items if you agreed to buy the home "As Is"
4) Dont call your agent on a daily basis asking for an update
As a chicago short sales expert, I know what it is like having clients calling me up on a daily basis asking for updates. I tell them all the same thing "I will CALL YOU when I hear anything." If I represent a buyer in a short sales transaction, I will call the listing agent once or twice a month for a update...THATS IT!
5) Approved Short Sales are the way to go
Approved short sales usually take much less time to work with and wait for when compared to not approved short sales
6) Get As Much Information About The Property As Possible
It is important to know what you are getting yourself into. So ask your realtor to find out as much info about the property as possible ie: does the home have pmi, is there a fannie mae loan involved, what is owed on the property etc.....
Dont lose your home to foreclosure! Let my Chicago Short Sales Team help you avoid foreclosure and all the problems that accompany a foreclosure. We have the experience you need! Call or Email us now to set up a Free and Confidential Consultation to see if a Short Sale will work for you!
Jim Kontos
President-Broker-Chicago Short Sales Expert-Chicago Short Sales Realtor
RE/MAX 1st Class
RE/MAX Short Sales
Cell 630 327 9136
Office 847 674 9797
Office #2 312 643 2087
jpkontos@gmail.com
www.mychicagoshortsalesite.com
there are several Chicago Short Sale Realtors out there to chose from, but only a handful of these Chicago Short Sale Realtors have the knowledge and experience we have!
