The real estate listings auctions occurring in Elgin pertain to a populous city 64 km northwest of Chicago on the River Fox. Different portions of Elgin lie within Kane County and Cook County in the US state of Illinois. The lucrative business opportunity spelt by the government foreclosures is attracting an immense response even from the residents of the neighboring cities, including Aurora, Burlington, Elburn, Gilberts, Kaneville, Lily Lake, Virgil, Wayne, Berwyn, Evanston, Harvey, Markham, Northlake, Park Ridge and Rolling Meadows.
Foreclosure Auctions: A Million-strong Boom
There are an estimated million foreclosure auctions to take place in the whole of US in the short-term future. This has led to a spurt in buying activity, and you ought to capitalize on this boom in the economy for your own required home or profit through investment.
Your planning for participation at the foreclosure auctions must begin with a realistic assessment of your own financial straits, your especial requirements for your home, and tapping the available avenues for home finance to enable you to successfully clinch a deal. All this calls for much thought, a cogent strategy and clear planning.
You would be considerably helped in making a lucrative investment at the real estate listings auctions, if you were to employ a real estate agent to represent your interests. Jim Durant, Ray Ellett and Charles Miller are merely three of the numerous property dealers operating in South Bend of whom you may rope one in. A constructive Buyer-Agent Action Plan that you may choose to be guided by is thoughtfully presented below.
Buyer-Agent Homes Action Plan
Discuss the current real estate market conditions and requirements. Develop a clear purchase and timing strategy. Learn about the neighborhood and its schools, community services, means of recreation, and the like. Jot down a “New Home Wish List” specifying homes that appeal to you.
The agent ought to contact you upon any home becoming available in your favorite areas. The agent is to handle all follow-up measures with the listing agents. Your agent ought to write the preliminary offers on homes on your behalf. Both your agent and you are to periodically review progress and reevaluate your strategy. The agent is to remain available and responsible for attending to any last-minute contingencies arising concerning contract, inspection and appraisal.
You must conduct yourself with the utmost care while bidding at the real estate listings auctions. It would be better for you to arrive some time early, to “acclimatize” yourself to the venue, rather than reach late and flustered on the D-day. You must take care to keep adequate ready cash with you for the mandatory down payment to be instantly made, were you to win at the auction table. The down payment usually ranges between 10% and 20% of the total property price.
Were you and your agent to be guided by the basic guidelines outlined above, it is inevitable that you are able to select a home of your choice, as well as successfully transact a moneyspinning real estate investment.
