Looking for Distressed Property in Chicago?
We have had distressed Property in Chicago since 2004. Supplying the industry’s hottest off-market real estate leads only consists of Probate, Pre-probate, Inheritance, Divorce, Eviction, Code enforcement, and more. Raw data is crossed referenced and delivered to you in one day in most states. We have the fastest turnaround time in the industry. We get you first on the scene at warp speed. Equally important is gaining the competitive advantage of getting you to the deal first with actual equity from motivated sellers. Us doing the research will save you time, so you can focus on revenue-generating activities such as wholesaling, rehabbing, and flipping properties. Getting you a real estate deal is our mission. Furthermore, we gauge our success as a company by the success of our clients.
The last thing you want is to market to people with old data. We’ve heard horror stories of wasting time and money only to discover the real estate sold months ago. Don’t let it happen to you.
According to the U.S. Foreclosure Market Report 2021, 33,699 U.S. properties have fallen into the foreclosure category. Like this year, thousands of properties get default notices, scheduled auctions, or bank repossessions. In addition, there are life events that intertwine with real estate. Name a few of these leads are Probate, Divorce.
So, if you are looking for distressed property in Chicago, contact us immediately. We promise to provide you with some genuine hot distressed property leads.
Are you competing in the real estate market?
Off-market listings are distressed properties in Chicago that may be for sale but are not on multiple listing services (MLS). Most often, unfortunate circumstances on the seller’s behalf motivate the seller to sell. There may be a financial dilemma or an owner looking to exit the property quickly. Real estate buying and selling is the most significant transfer of wealth. In other words, buy low and sell high. With this in mind finding wholesale with equity is the key to success. With this in mind, wholesale off-market real estate leads are off the radar, and non-retail is the key to success. If you’re a hedge fund or a beginner in real estate, we’re here with the lists of motivated sellers of real estate.
Who uses our product
Fix and Flip Investors
Brokers and Agents
Many more ………….
Why Should You Buy a Distressed Property From Real Estate Leads in Chicago?
Consider the disadvantages you might face if you buy a new house in Chicago. Well, of course, the unique properties are excellent. New properties come with time, permits, construction loans, and legal implications. However, things are different with a distressed property in Chicago.
When you plan to buy a distressed house, you can have your core focus on getting a good bargain and maximizing your investment returns. Here are the three reasons you should invest in distressed properties rather than new ones.
We have already mentioned it in passing. Distressed properties are easy to get at a lower market value. Sellers want to sell houses and get the money as fast as possible.
Distressed properties can offer opportunities to gain profit for investors. After all, the prices are below market value. So, they provide a good profit margin.
Fewer delays for approvals
Building a new house might expose you to outside influences that cause delays and lower your margins. Something that you have to deal with if you invest in distressed homes.
More Negotiating Power
As distressed houses need maintenance and repair, you will have the upper hand while negotiating the price. You will have a better chance of winning the deal during the negotiation.
Buying distressed houses can be a smart and profitable investment. If you plan and strategize effectively, you can turn an old, neglected house into an excellent property.
Which Type of Distressed Property in Chicago are you targeting?
You are clear about why you should invest in distressed property. As an investor, you must be clear about the type of distressed house you want to get. Understanding the difference between the types of distressed properties is crucial as the search and acquisition strategy will vary from type to type.
Distressed properties mainly fall into five different categories, namely:
Abandoned & Vacant Houses
As the name says, homeowners vacate or abandon these houses. If you find an abandoned property, you might get an opportunity to negotiate a great financing deal.
Banks repossess these properties. The banks want to sell these properties as soon as possible, so negotiating a profitable deal won’t be hard.
Short Sale Properties
These properties are ready to be sold with the consent of both the homeowner and lending institutions’ support. So, if you want to buy a property of this type, it can be a win-win situation for both parties.
Pre-Foreclosure & Foreclosure Properties
When an owner fails to pay the mortgage, they receive a default notice, and their property enters the pre-foreclosure state—given three months to remedy the delinquency. However, if they fail, they receive a sale notice, and the property becomes a foreclosure property. You can negotiate with homeowners if you want to get a pre-foreclosure property. Or, if the property is already in the foreclosing phase, you can acquire the property by attending foreclosure auctions.
These properties are foreclosure properties sold by the U.S. Department of Housing and Urban Development. You can buy this property by submitting purchase bids to the HUD Home Store or asking your broker to do so.
What To Do After Finding a Distressed Property Lead in the Real Estate Business?
Once you have found some distressed properties in your preferred location, it’s time to ensure they are worth pursuing. Though we offer genuine property deals, checking things yourself before sealing the deal is better. So, don’t say, “THIS HOUSE LOOKS GREAT. I SHOULD GET THIS!”. Instead, it would help if you did the following:
Review Property Details
Research Owner Details
Look at Market Value and Comparables
Review Title History to Avoid Trouble During Sale
Checking for Recent Sales or Listing
Lastly, Reach Out to the Sellers
Get Your Hands on the Hottest Distressed Property Leads in Chicago!
Remember, there are plenty of hot leads globally, but you need the most accurate, updated, real-time, high-quality information. Do you know where you can find tips on all these properties?
The answer is ForeclosuresDaily.com.
ForeclosuresDaily.com offers high-quality, real-time distressed real estate leads daily or weekly. A chance to approach new real estate leads every day or every week. Moreover, with our helpful guide, you can save much of your searching time and find the most suitable house at the best deals.
At ForeclosuresDaily.com, we offer hundreds of thousands of houses ready to be sold at a fraction of their market price. So, contact us immediately and get the best property at the best deal possible.