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Foreclosures & Bank-Owned Homes

In the past I offered a list of foreclosures and bank-owned homes in the North Shore Chicago area. However, I don't anymore.

Why not?

Foreclosure lists are limiting

Why just look at foreclosures, when you can look at all of the homes in a certain price range in a certain area? I provide my clients with a list of all available homes that meet their search criteria, not just foreclosures or bank-owned homes. If you're really serious about buying a home, my advice is to look at everything. Don't limit yourself to foreclosures.

A foreclosure may not be the best property for the money

In some respects, foreclosures are worse. A non-foreclosure has generally been better taken care of. The sellers are not upset that they are basically being booted out of their house.

But what about the "steal?"

Chances are, you will be able to find just as good of a deal with a non-foreclosure property.

Non-foreclosure homes have to compete against the foreclosures on price, too. If you're really serious about buying a home, do you really want to wait weeks—or even months—to see if you've been "chosen" to buy a particular home?

For non-investors (in other words, for people using a lender), a foreclosure can be much more difficult to fund. For example, getting the bank to turn the utilities back on is very difficult, and your lender wants to see if the utilities are working. I have seen some ugly stalemates in my career.

If you're looking to buy, Tell Mandel!

If you are serious about buying a home in the North Shore Chicago area, please give me a call at (312) 504-6055.
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River North Townhome in Chicago

For true local service in the Highland Park, Illinois real estate market - including the surrounding North Shore communities - please call me directly at (312) 504-6055.

Coldwell Banker, Highland Park IL
Howard Mandel, REALTOR®
Real Estate Broker, e-Pro

Coldwell Banker Residential
1893 Sheridan Road
Highland Park, IL 60035

Cell: (312) 504-6055
Office: (847) 926-1947
Fax: (847) 415-6771
ePro Realtor
 
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