Foreclosure Specialists for
Dupage County & Area
DuPagereo.com is dedicated to providing information to people who would like to purchase foreclosure property in DuPage County Illinois. As a professional Realtor, I have been able to compile a list of internet based resources that will allow the average person to find, evaluate, and purchase foreclosure property. In most cases, these tools were not intended for this use so they do require a little bit of effort. The following information is completely free and can be utilized to find good opportunities, just remember that you should always have the help and advice of a professional Realtor. I have seen far too many people in the past purchase a foreclosure property that they thought was a good bargain only to find out that they lost their life savings on a bad investment.
The first and most important place to look for accurate foreclosure property information would be the DuPage County Sheriff auction list. You can rest assured that if the property is on this list there is no doubt that the foreclosure process is underway. The properties that are on this list are still pre-foreclosure so they may or may not be available for purchase. For those of you who are unfamiliar with the term, a pre-foreclosure home is when the borrower/owner sells the property to a third party during the pre-foreclosure period. The sale allows the borrower/owner to pay off the loan and avoid having a foreclosure on his or her credit history. Some of the best opportunities we have found recently are pre-foreclosure. What we have been able to do is to perform a short sale on a pre-foreclosure property. This is the best of both worlds. The borrower/owner can avoid having a foreclosure on his/her record and the purchaser can walk away with a property usually for around $0.60 on the dollar. Just to clarify, a short sale is when the lender allows you to purchase the property without paying off the entire loan. The bank actually writes off the remaining balance in an effort to save the time and expense of completing the foreclosure process.
After you have spent the time to find a property that you are interested in by scanning the nearly 400 properties in the DuPage list, then you would use the DuPage County recorders web site to find out when the borrower/owner started the foreclosure process and to some extent what they currently owe on the property. You can also use the DuPage County assessors web site to find detailed information about a specific property such as how many bedrooms, bathrooms, garage spaces, square feet and so on. In some cases you can also view the two most recent sales of the property. Once you have completed all of the above steps you should visit Zillow.com to find an approximate value.
All of the Previousley mentioned links are available in the foreclosure department section of my web page as well as some that I haven't mentioned here. If all of this seems like a lot of work that is because it is actually a lot of work. If you would like to do things the easy way give me a call (630) 310-8315, I can provide you with a list of available property at the push of a button.