Chicago Short Sales & Avoiding Foreclosure

The Kontos Group Short Sale Team at RE/MAX 1st Class|Chicago Short Sales

 
THE KONTOS GROUP
SHORT SALE TEAM AT RE/MAX 1ST CLASS

Jim Kontos
1) President/Broker Of RE/MAX 1st Class
2) Full Time real estate broke with over 8 years experience
3) Residential real estate expert: Single Family Homes, Condos, New Construction, Condo Conversions, Luxury Properties,
4) Certified Distressed Property Expert
5) Commercial real estate expert: Shopping Centers, Stripp Malls, Multi Unit Buildings
6) Annual Multi Million Dollar Producer
7) RESIDENTIAL Short Sale Specialist
8) Work in conjuction with banks selling their REO properties
9) Online Marketing Expert...Our Online Marketing Plan Is Second To None!
10) Marketing Professional
11) Winner of the RE/MAX  "Above the Crowd" Award
12) Youngest owner of a RE/MAX franchise in Illinois at age 26 in 2004
13) Graduate of Loyola University Chicao 2000
14) Specializes in the following areas:

North Shore Suburbs
Skokie, Evanston, Lincolnwod, Park Ridge, Morton Grove, Niles, Winnetka, Wilmette, Gleview,

Western Suburbs
Addison, Elmhurst, Bloomingdale, Lombard, Villa Park, Roselle, Medinah, Itasca, Carol Stream, Oak Brook, Downers Grove, Elgin, Aurora, Naperville

City of Chicago
River North, Gold Coast, Streeterville, West Loop, South Loop, Lincoln Park, Lakeview

North Chicago
Rogers Park, West Ridge, Edison Park, Norwood Park, Sauganash, Forest Glen

Contact Info
Cell  630 327 9136
Office 847 674 9797
Office #2 312 643 2087
jkontos@remax.net

Harris Ali
1) Full time real estate broker with over 8 years experience
2) Former Harris Bank Executive
3) Residential Short Sale Specialist
4) Short Sale Negotiator
5) Experience in selling REO properties
6) Residential Real Estate Expert
7) Recognized by the Chicago Association of Realtors as a Annual Multi Million Dollar Producer
8) Annual Top Producing real estate broker for the North Shore suburbs
9) Services and has knowledge of the following areas:

North Shore Suburban
Skokie, Lincolnwood, Evanston, Park Ridge, Morton Grove, Wilmette, Winnetka, Glenview, Lake Forest,Niles

City of Chicago
River North, Gold Coast, Lincoln Park, West Loop, South Loop, Lakeview

North Chicago
Rogers Park, West Ridge, Sauganash, Edison Park, Norwood Park, Forest Glen

Contact Info
Cell 847 322 6277
Office 847 674 9797

George Kontos
1) Mortgage Solutions Specialist with largest S&L in country
2) Residential and Commercial Investment Real Estate Analyst
3) Commercial Troubled Assest Manager
4) Residential Debt Solution Specialist
5) FAS 114 Loss Mitigations Specialist

Contact Info
Cell 630 936 3322
gpkontos@yahoo.com

Dont lose your home to Foreclosure! If you are someone you know is struggling with their mortgage and could be losing their home to foreclosure, CONTACT US immediately! Let my experienced Chicago Short Sales team help you try and avoid foreclosure.  You have nothing to lose and everything to gain by contacting us for a completely Free and Confidential meeting!

 

  

Ontario Place Condos| 10 E Ontario| Chicago Short Sales

 

CHICAGO SHORT SALES|ONTARIO PLACE CONDOS|10 E ONTARIO

The Chicago Short Sales rate is skyrocketing in just about every area of Chicago. From Rogers Park to Lakeview, the Chicago Short Sales rate seems to be increasing monthly unfortunately.  One of the condo buildings hardest hit by short sales and foreclosures is the Ontario Place Condos at 10 E Ontario in the Chicago River North area. This building is swamped with short sales

CHICAGO SHORT SALES Data For
Ontario Place| 10 East Ontario
(As of Jan 2012) 

Current Number of  River North Condos FOR SALE @ 10 E Ontario: 11

Current Number of Chicago Short Sales FOR SALE @ 10 E Ontario: 9

Current Chicago Short Sales Rate at Ontario Place: 90%

Prices for these River North Condos range from: $119,000--$189,000

Dont lose your River North Condo to foreclosure! Let my Chicago Short Sales Team help you avoid foreclosure! Contact us NOW for a confidential consultation to see if a short sale could help you! You have nothing to lose, and everything to gain by calling or emailing us!

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
www.jkontos.illinoisproperty.com

 

The Kontos Group Short Sales Team| Chicago Short Sales

DONT LET THE BANK FORCE YOU INTO FORECLOSURE, DEFICIENCY, WAGE GARNISHMENT OR BANKRUPTCY!

CONSIDER A SHORT SALE!!!

Our Chicago Short Sales Broker Service Is Completely Free To You!  We Get Paid Our Commission From The Banks Directly!
 
We are Local Chicago Short Sales Specialists, Realtors, and Loss Mitigation Experts Serving the Chicagoland Area..

You owe it to Yourself, your Family, your Credit and your Future Buying Power to try a Short Sale.  A foreclosure will limit your ability to purchase another home for 7 years!!

If you or someone you know is on the verge of losing their home to foreclosure, please CONTACT US immediately to set up a FREE and CONFIDENTIAL CONSULTATION to discuss if a short sale will work for you. Let our Chicago Short Sales team work for you!

All You Have To lose Is A Phone Call or Email!

The Following Counties Are Where We Work:
COOK---DUPAGE---LAKE---WILL---KANE

Jim Kontos
President-Broker-Founder Of Kontos Group Chicago Short Sales Team
Chicago Short Sales Specialist--Suburban Short Sales Specialist
CERTIFIED DISTRESSED PROPERTY SPECIALIST
RE/MAX 1st Class
Cell 630 327 9136
Office 847 674 9797
Office #2 312 643 2087
jpkontos@gmail.com
www.mychicagoshortsalesite.com
www.jkontos.illinoisproperty.com

George Kontos
Mortgage Solutions Specialist
Commercial Troubled Asset Manager
Residential Debt Solutions Expert
FAS 114 Loss Mitigation Specialist
Direct 630 936 3322
gpkontos@yahoo.com 

Harris Ali
RE/MAX 1st Class 
Residential Real Estate Expert
Chicago Short Sales Expert
Short Sales Negotiating Expert 

 
 

7240 Kilpatrick sold in 3 days!!|Chicago Short Sales

Another Chicago Short Sales Home SOLD by the Kontos Group!!!

7240 Kilpatrick in the NorthShore suburb of Lincolnwood is another example of The Kontos Group Chicago Short Sales Team in action!  This 3bed/3bath Cape Cod home sold in 3 days and the homeowner avoided foreclosure!!  We are Chicago Short Sales Specialists!

Are you or someone you know falling behind on your mortgage payments and are facing foreclosure? If so, CONTACT our Chicago Short Sales Team Now to schedule a confidential appointment to discuss why listing your home with our experienced Chicago Short Sale Realtors is the way to go!

The sooner you contact us, the sooner we can help you avoid foreclosure!

Looking to buy or sell chicago short sales, chicagoland short sales, skokie short sales, evanston short sales, park ridge short sales, niles short sales, morton grove short sales, lincolnwood short sales, winnetka short sales, skokie short sales homes, wilmette short sales, glenview short sales, lake forest short sales, addison short sales, medinah short sales, elmhurst short sales, oak brook short sales, lombard short sales, naperville short sales, naperville short sales homes, roselle short sales, carol stream short sales, itasca short sales, addison short sales, glendale heights short sales, downers grove short sales, bloomingdale short sales, schaumburg short sales, arlington heights short sales, elgin short sales, aurora short sales, chicago river north short sales, river north short sales, lincoln park short sales, chicago lincoln park short sales, lakeview short sales, chicago lakeview short sales, lincoln square short sales, chicago lincoln square short sales, wicker park short sales, bucktown short sales, west loop short sales, south loop short sales, schaumburg short sales homes, elmwood park short sales, jefferson park short sales, albany park short sales, rogers park short sales? If so, please contact our chicago short sales team!

 

 

Chicago Short Sales

 

Rising unemployment in Chicago has led to a huge increase in the amount of Chicago Short Sales and Chicagoland foreclosures.. Let my Experienced Chicago Short Sales Team help you avoid foreclosure by selling your home as a short sale. The Kontos Short Sale Group at RE/MAX 1st Class has the Chicago Short Sales experience to help you avoid foreclosure! Contact us today for a free and confidential consultation!

Whether we sell your Chicago Short Sales or Skokie Short Sales, our real estate service is COMPLETELY FREE TO YOU! ( We Get Paid From The Banks)  You have nothing to lose but everything to gain by contacting us as soon as possible! The sooner we can get the ball rolling on getting your home sold, the better!

Jim Kontos
President--Broker--Chicago Short Sales Specialist--Founder Of Kontos Group Short Sale Team
RE/MAX 1st Class
Direct 630 327 9136
Office 847 674 9797
Office #2 312 643 2087
jkontos@remax.net 
www.mychicagoshortsalesite.com

Are you looking for chicago short sales, chicagoland short sales, skokie short sales, evanston short sales, park ridge short sales, lincolnwood short sales, niles short sales, morton grove short sales, wilmette short sales, winnetka short sales, lake forest short sales, elmhurst short sales, glenview short sales, medinah short sales, roselle short sales, itasca short sales, bloomingdale short sales, oak brook short sales, addison short sales, lombard short sales, carol stream short sales, glendale heights short sales, villa park short sales, schaumburg short sales, arlington heights short sales, naperville short sales, naperville short sales homes, naperville real estate, aurora short sales, elgin short sales, new lenox short sales, mokena short sales, orland park short sales, oak park short sales, river north short sales, chicago river north short sales, lincoln park short sales, chicago lakeview short sales, lakeview short sales, wicker park short sales, bucktown short sales, west loop short sales, south loop short sales, lincoln square short sales, chicago lincoln square short sales, jefferson park short sales, albany park short sales? If so contact our chicago short sales team now!

Facts About Mortgage Holders|Chicago Short Sales

FACTS ABOUT MORTGAGE HOLDERS

1st Mortgage Holders
Seldom consider the 2nd mortgage holders position at all.  Often the 1st is unaware of any 2nd and they well know they are in 1st position aka (Senior Holder).  The 2nd will be written off if the property goes to foreclosure and does not become an impasse to get clear title at the sheriffs sale of property

1st Mortgage Holders
Are usually the institutions that begin the foreclosure process and negotiate the time frame to consider a short sale.  The home owner and potential buyer must know the dates on the foreclosure notice of default letter to the homeowner.  These dates are very important! 

2nd Mortgage Holders
Usually do not begin foreclosure proceedings simply because they have to buy the 1st in order to sell the property.  In most cases, the 1st mortgage balance is much higher than the appraised value and does not justify foreclosure by the 2nd

2nd Mortgage Holders
Are usually very much unaware of the deadline to close on the 1st  due to the foreclosure process.. You must be aware of the time frame you have to negotiate both mortgages, if there are 1 mortgages on the property

Dont lose your home to foreclosure!  If you or someone you know is struggling with their mortgage payments and could be losing their home to foreclosure, CONTACT US immediately!  Let my experienced Chicago short sales team help you try and avoid foreclosure.  You have nothing to lose and everything to gain by contacting us and setting up a free and confidential appointment.
Whether its Chicago short sales, Naperville Short Sales, or Skokie short sales, we have you covered!

Jim Kontos
President--Broker--Chicago Short Sales Expert--Multi Million Dollar Producer
RE/MAX 1st Class
Cell 630 327 9136
Office 847 674 9797
Office #2 312 643 2087
jkontos@remax.net

 

we are the chicago short sales specialists!

Are you looking for schaumburg short sales, chicago short sales, skokie short sales, evanston short sales, park ridge short sales, niles short sales, glenview short sales, winnetka short sales, wilmette short sales, lincolnwood short sales, lake forest short sales, lake zurich short sales, barrington short sales, south barrington short sales, highland park short sales, morton grove short sales, addison short sales, medinah short sales, bloomingdale short sales, itasca short sales, roselle short sales, lombard short sales, carol stream short sales, elmhurst short sales, naperville short sales, naperville short sales realtors, oak brook short sales, downers grove short sales,wood dale short sales, glen ellyn short sales, river north short sales, chicago river north short sales, lincoln park short sales, chicago lincoln park short sales, lakeview short sales, chicago lakeview short sales, bucktown short sales, chicago bucktown short sales, wicker park short sales, chicago wicker park short sales, lincoln square short sales, chicago lincoln square short sales, west loop short sales, south loop short sales, new lenox short sales, mokena short sales, orland park short sales, oak lawn short sales,arlington heights short sales? If so, please contact us!

Short Sale 101 for Buyers!

 

When buying a short sale property, you can sometimes get a really good deal on a property! However, nothing in life worth having usually comes free, and short sales are another example of this.  If you are looking to BUY A SHORT SALE PROPERTY, keep the following in mind before you make an offer.

SHORT SALE 101 FOR BUYERS

1)  The listing price is usually set by the Listing Agent and Seller...Not The Bank!
If you run across a home that is priced RIDICULOUSLY LOW and is a short sale to boot,  you might be better off runing in the opposite direction. Chances are the realto really low balled the listing price in order to drive in potential buyers. The bank usually isn't aware of the pricing until they get a contract. If the bank receives a contract that is way way below what they would accept, then that agent has just wasted your time

2) Loans owned by 1 bank are much easier to deal with and approve than loans owned by 2 banks!

3) Lowball Offers usually get a much slower response or No response

4) Listing agent must check the comparable properties before submitting offer

5) Don't put your eggs in one basket!
Despite what the name says, Short Sales are NOT SHORT!!!
They are in fact a incredibly time consuming process and can take any where up to 4-7 months to close. If you are not a patient individual, then short sale might not work for you. Don't get your homes up for just one property, keep your options open and have a contingency 

6) Sellers Who Own Other Properties Or Have Strong Financials Will Have A Harder Time Getting Approved For a Short Sale and or may Be Required To Pay The Difference

7) "APPROVED SHORT SALES" are usually better to work with.. A approved short sale means that the listing price for the home has been agreed to by the bank!  This could be due to the fact that another interested buyer made an offer that was eventually approved, then the buyer didnt buy the property for whatever reason 

8) Some Banks Look For The Strongest Buyers And Other Banks Look For The Strongest Offers!
The bank has ALL THE POWER in approving or not approving your short sale and they chose whatever offer they feel for them

9) For the most part you are buying the short sale property in "AS-IS" condition
If there are improvements that need to be performed on the home, even f they are necessary to get financing, it is highly unlikely that the bank/lender will make any concessions for you. You are buying the home "AS-IS" and you are ultimately responsible for taking the home in the condition it is in
   

10) YOU CAN HAVE A HOME INSPECTION PERFORMED on a short sale property
You can most definetely have a home inspection performed on a short sale home.. I would suggest performng the home inspection after you have received the approval from the bank if the seller is ok with it. If you do the inspection beforehand and the short sale doesnt get approved from the bank then you spend a few hundred dollars on your inspection for nothing..

11) When you get the short sale approved, you MUST CLOSE ON THE HOME ON TIME! 
When dealing with short sales and chicago short sales, there really isnt much flexibility with teh closing date as there usually is with a more traditional home sale purchase. With short sales, there are rarely exceptions made. So what does this mean for the buyer? This means that you need to get all your ducks in a row immediately after getting a offer to purchase signed!!!
  

12) DONT CALL YOUR REALTOR EVERY DAY ASKING FOR UPDATES! 
When you are buying a short sale home, your realtor can only do so much! Once your offer has been presented and accepted by the seller, thats about all your broker can do for you. Your realtor HAS NO INFLUENCE when it comes to trying to get the short sale approved. Once the bank receives the contract, you are at the mercy of the bank(s) ans what they decide. What your realtor or broker can do is contact the listing agent a few times per month to see how the transaction is going  and if there is any progress.  If the listing agent is also negotiating the deal, then the listing agent might be able to give you a little mroe insight.  DO NOT EXPECT ANSWERS ON A DAILY BASIS, it just doesn't work like that.  If you are individual who needs to be in control of a situation, then buying a short sale property might not work for you!

Dont lose your home to Foreclosure! If you are someone you know is struggling with their mortgage and could be losing their home to foreclosure, CONTACT US immediately! Let my experienced Chicago Short Sales team help you try and avoid foreclosure.  You have nothing to lose and everything to gain by contacting us for a completely Free and Confidential meeting!
From Chicago Short Sales to Skokie Short Sales, we have you covered! 

CLICK HERE to search for Chicago Short Sales and Foreclosure Properties on my Free RE/MAX Site

Jim Kontos
President--Broker--Multi Million Dollar Producer-- Chicago Short Sales Specialist
RE/MAX 1st Class
Cell 630 327 9136
Office 847 674 9797
Office #2 312 643 2087
jkontos@remax.net

chicago short sales, chicagoland short sales, chicago short sale specialists, skokie short sales,

Why Lenders Accept Short Sales| Chicago Short Sales

So why would lenders take less than what they're owed?

Then answer is: ACTUAL COSTS
 

1) A Lender/Bank stand to Lose A Lot More Money when they foreclose on a property!

2) Some of the costs that a Lender/Bank have to take on during a foreclosure are:

Attorneys Fees
Court Costs
Legal Process Fees
Arrearages
Trustee Fees and Costs of Trustees Sale
Holding Costs
High Repair Costs

 It makes more sense for a lender/bank to chose a short sale when they are dealing with a Moderate Loss

 

Dont lose your home to Foreclosure

If you are someone you know is struggling with their mortgage and could be losing their home to foreclosure,

CONTACT US immediately! Let my experienced Chicago Short Sale team help you try and avoid foreclosure.  You have nothing to lose and everything to gain by contacting us for a completely Free and Confidential meeting!

 

Jim Kontos
President--Broker--Multi Million Dollar Producer----Short Sale Specialist
RE/MAX 1st Class
Cell 630 327 9136
Office 847 674 9797
jpkontos@gmail.com
www.mychicagoshortsalesite.com