Internet Marketing Chicago
Can someone give me some advice on how to go about buying a foreclosure? I am a first-time buyer.?
I’m interested in buying a single family house or a 2-flat building which is a foreclosure property. However,I have no idea where to start. I know there is alot of info on the internet with marketing ads however those ads want you to pay them to teach you how to buy a foreclosure. I’m not interested in that.I live in the state of Illinois and would like to buy a foreclosure in the Western Suburbs or a decent area in Chicago. My credit is not all that great but its’ not terrible. I’ve heard credit doesn’t matter if you find a foreclosure for about $10,000 and are willing to pay cash for the property. Can someone who has bought foreclosures PLEASE help me with some business advice. I really would appreciate it and thank-you kindly in advance. Happy holidays as well everyone.
If you are truely interested in the property, I would put a bid in on it and have it inspected. If there are any significant issues found in the inspection, then you have 3 options, the bank fixes, the bank lowers price, or you just do not buy at all. Contact the realtor and they will sit down and write up a contract for everything and you can put your bid in. Also, make sure you get preapproved first, you said you were paying cash i think so you should be ok. Make sure there are no tax liens on the property, check title insurance, etc. I went through the same process and am closing soon. Very exciting time!!
Good Luck!!
Ben Hart’s Internet Marketing Workshop, Chicago
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