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What to expect when buying a bank owned property.

  • The home will be winterized in the colder months.
  • The home may or may not have appliances including a stove.
  • Deferred property maintenance items.
  • Homes are typically sold as-is.
  • The seller will not usually pay for a survey.
  • Pre-approval letter or proof of cash funds required to submit an offer.
  • There may be several pages of addendums for the buyer to sign.
  • Home inspections are typically allowed.
  • Closings normally take place between 30-45 days after bank acceptance.
  • Some banks will agree to a closing cost credit to the buyer.

Resources

We are licensed to submit offers on these sites.

REO Services Offered

Occupancy Inspections, Cash for Keys, Rekey, Winterization, Trash Outs, Utility Activation Property Checks, Interior and Exterior Broker Price Opinion, Marketing Strategy, Contractor List for Repairs/Bids, Regular Property Inspections, Listing, Marketing, Negotiating.

REO Experience

Licensed since 1999. Freddie Mac, Bank of America, Veterans Affairs, US Bank. Husband & Wife Team with traditional and mobile office.

REO Training

SFR Designation, Certified Residential Specialists, Accredited Buyers Representative, Freddie Mac, Bank of America Training and Equator Training, VRM BPO training.

Areas of Service

Kane, Kendall, Will, Dupage Counties. Aurora, Naperville, Plainfield, Romeoville, Plano, Montgomery, Oswego IL 60502, 60503, 60504, 60506, 60545, 60544, 60538, 60542, 60540, 60564, 60563, 60585, 60543, 60554, 60446




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Coldwell Banker The Real Estate Group Realty of Aurora, IL

Contact Info

Erin Hill — Ph 630-336-5962
Jerry Hill — Ph 630-336-5963

1242 Eola Road, Ste. F
Aurora, IL 60502