$340,000


5 Beds Multi-Family

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S Hale St,
Addison, IL 60101

Status: Inactive
Listing ID: 52867644

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Property Information

  • Price: $340,000
  • Bedrooms: 5
  • Basement: Yes
  • Lot Size: 0.12 acres
  • Year Built: 1969
  • Source ID: 10493127
  • Days On Site: 399
  • School District: 4
  • Property Type: Multi Family Dwelling
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Short Sale

Short sale properties represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value. Existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons.

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First Steps to Buying a Short Sale

Short sales often present opportunities for real estate investors to purchase property at below market prices. A short sale occurs when the mortgage lender on a property agrees to give a release for less than the amount owed on the loan. This usually occurs when the loan on the property becomes delinquent and is headed toward foreclosure. An alert property owner who knows he is facing foreclosure is well advised to keep an open line of communication with his lender. And the lender is well advised to keep an open mind to the consequences of a loan default and the benefits of agreeing to a short sale. When the lender and property owner can agree on a short sale price, the owner can advertise that the property is a short sale and can list it accordingly. Such listings attract a lot of attention and can expedite the sale of the property.

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S Hale St
Addison, IL 60101

5 Beds Multi-Family

$340,000

Status: Inactive Listing ID: 52867644

Property Information

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Property Description

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Listing URL

https://www.foreclosure.com/listing/address.html?address=S-Hale-St-Addison-IL-60101/52867644_lid

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