Tuesday, March 01, 2011

Video: An $800,000 Roscoe Village short sale

I took some great clients to see this Roscoe Village single family home short sale shortly after it hit the market (no pun intended). There are a few "quality issues" with the house and finish level, but over-all I think it's a good buy for the neighborhood and for Bell school under $800,000. My guess would be it goes to contract soon.

In fact, the listing agent told me today that he's had "36" showings since it went on. Yawn. Any who, he answered a question I had about the mortgage situation. Upon making my first appointment with one of the team members, I asked up front if the place had any offers and how many liens were on the property and with who (I asked on three separate occasions and finally got an answer after taking my clients for two showings).

Even though the property has two liens, they are both with the same big bank. The bank has a uniform procedure and the outstanding loan balance isn't that far off so a deal can likely get done on this place.

Call if you need a buyer or listing agent with conventional and short-sale experience.

View more property and video tours here!

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