Real Estate in Barrington & The Northwest Suburbs: Deer Park Illinois Short Sales - Buying Your New Short Sale Home Should Be A Positive Experience

Deer Park Illinois Short Sales - Buying Your New Short Sale Home Should Be A Positive Experience

If you are in the market to buy a home you are likely going to run into some short sales. You might have heard some scary stories, even been advised that you should not buy homes listed as short sales. Much of these scanarios are born of fear or lack of knowledge. Before you decide whether to pursue a short sale here is some general information to guide you.

• Short Sales will require approval from all lien holders - banks, personal liens, home owners associations.
• It is the seller that decides whether your offer is right to submit to the lien holders for approval - not the other way around and not the listing agent alone.
• Short sale approval can take time - allowing 120 days is a good ball park time but be flexible.
• Short sales are not being bought for pennies or even 50 cents on the dollar.
• Some concessions maybe given but are usually for the seller - i.e. non paid property taxes will be paid to date.
• Writing very low offers is a complete waste of everyones time as is demanding a 30 day response.
• You do not have to be in competition with other buyers - there is a simple way to make sure only your offer is submitted to the lender for approval.
• Mortgage contingencies are expected but home sales are usually not.
• Be prepared to have skin in the game - commit to the seller and the seller will commit to you.

I serve the northwest suburbs of Chicago in Illinois and help both buyers and sellers with short sales. I have the experience to help buyers navigate a short sale purchase in Northern Illinois by providing you with the knowledge you need and the plan of action that will give you the best chance of succesfully buying a short sale property.

You can buy short sale condos-townhomes-single family homes-luxury homes-vacant land and even multi units for investment in Illinois.

Why lose your dream home because it is a short sale? Contact me today info@corinneguest.com or 847.363.3686

Search all the Illinois short sales homes listed on the MLS here. I have set the search up to return only Northern Illinois Short Sales and Foreclosures, you can uncheck any box. Just enter a city in Illinois and the short sale listings will populate for you.

Written and Posted by:

Corinne Guest- REALTOR®

Royal Advocate Realty - Barrington, IL 60010

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