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Items to Know When you are conducting a shorter Sales in Chicago

Know your streets - Short sales in Chicago can be a bit completely different from other markets you may well be knowledgeable about. Chicago is filled with pocket areas that may produce a house using one street very desirable and never two blocks away. By way of example, it is possible to visit the South Shore area and locate three blocks where the neighborhood is clean, selling, and possesses no indications of negative tenants. But go 2 blocks over, you're in a battleground! This is exactly why learning Chicago neighborhoods is most important when you are conducting short sales.

Example - Should you submit an offer for the bank plus they counter you, even if their comps come from 2 blocks away, you may use the fact that it is a completely different nieghborhood to your advantage. As an example, a 3 flat brick in South Shore will be addressshortsales.com another coming from a Grand Crossings 3 flat. You need to know more then everyone else inside negotiation!

The BPO - When you arrive on the property, for the BPO, make sure you have the following readily available: crime reports, comps, hardship letter from homeowner, plus a report of damages from an inspector. Know that most BPOs are realtors who want extra work which suggests they do not know squat about structure, roofing, plumbing, and electrical. Ask the BPO when they are licensed in any of those fields, and when they may not be, submit that info the lending company. You'll look much more professional and credible then whoever the financial institution sends out.

Help make your offer an uneven number - This really is simple, just pick your birthday as well and always make that number section of your offer. Countless investors make bogus flat offers like $40,000 that this bank will consider you don't know much and just have to get an excellent cheap property. Instead, submit the offer at $40,713.00. People don't trust flat numbers; they trust numbers that look thought out!

Patience is really a virtue - Like my good friend Chris Keller of BluePrint Recovery Group once explained, "the approvals can come!"

Join an active short sales group - This might be the most crucial. There are many cds and dvds with the information you need, however, you must definitely sign up using a gang of professionals. Whether it is your local REIA you aren't, this is how there is the oomph you have to keep working. Let me suggest you join the BluePrint Recovery group. This group helps tons of homeowners get rid of foreclosure and hang them track of consultants and financial advisors to be able to look after them after the sale with their home. Contact me for their info.