BANK-OWNED LISTINGS

Continue to check for BANK-OWNED PROPERTIES that I have listed or will be listing as these properties will be added as I receive them from various banks and mortgage companies.   The above link will also allow you to search for foreclosed properties by clicking on "Search Foreclosures" at the top of the page.  

There are alot of terms out in the marketplace now that were once rarely heard of a that have become used more frequently.  One such term is "REO" which stands for "Real Estate Owned".  The term "REO" is used when a lender takes ownership of a property as a result of the foreclosure process.  This property has been foreclosed on which involves purchase at the Sheriff's Sale and then becomes "Real Estate Owned"  also known as a "REO". 

REO properties can be sent to a Realtor, like myself, who specializes in the management and marketing of REO properties.  These properties are sent to me for management shortly after the sheriff's auction, but remain in a redemption period of 30 days or more after the sale in the state of Illinois.  If the property is occupied, then an eviction process must be started.  This process rarely begins before the 30-day after sale redemption period.  Sometimes the properties are in need of repair and this also takes time.  Sometimes I can have a listing for a few months before it is officially put on the market. 

Keep checking back as more properties will be added as I receive them from various banks and mortgage companies.  I will be posting preliminary information about these properties before they actually come on the market--so if you find one that interests you--let me know so that I can keep you posted as to when it comes on the market.

ON THE MARKET NOW:



COMING SOON:

Watch this spot--due to the hold on foreclosures expiring soon--new listings will be forthcoming shortly.

321 Douglas Road, Batavia--Ranch
1477 Walnut, Carol Stream--Townhouse