630-365-5230                        Continuously in business since 1974

      847-858-1020     

    847-858-1020

    630-365-5230


 

 

                   

    

 

         Ray & Wendy Ivancic

     Managing Brokers/Owners

Foreclosure Properties

We are HUD authorized agents



 


There is no doubt about it, we are better at giving advice about home remodeling, market values, rehab timelines, and material selection than any other real estate broker. Why? Because we have bought, remodeled, and resold investment real estate at huge profits. We know what features make a difference and what features are a waste of time and money. We don't give advice from a distance, we have driven the nails, plumbed the lines, and personally signed the mortgage documents that prove we know how to remodel and resell for a profit. Read our background.

 

What is your goal when purchasing a foreclosure property? If you are an investor, it is to make a purchase at below market prices to insure a profit after incurring the expenses of rehab. If you are going to be an owner-occupant, you may justify paying a bit higher price in the bidding process. At HUD auctions, owner-occupants are given a bidding advantage; see the rules on the hudhomestore.com website.

 

The first step as you actively begin looking at HUD properties is to prove you can financially close the purchase. You must be fully mortgage qualified. A loan commitment on a lender's letterhead is one method or having cash in the bank with proof via a monthly statement is the other. Don't bother looking at investment real estate without the money in the bank because your competitors have already lined up their ducks. If you need a mortgage, call us, we can get you qualified.

 

Every Friday afternoon the new listings are posted on hudhomestore.com. We must view the new listings over the weekend. The deadline for bidding at the auction is in just four days (Tuesday at midnight). Sometimes there are no new listings in your target market so we'll be patient until one becomes available. Another option is to go into the Realtors MLS and choose from the regular inventory of homes for sale. We'll find that there are plenty of homes needing to be remodeled in inventory.

 

There are more steps involved than these. But, this is just a primer for a telephone conversation. So call us.