If you're looking for a Northbrook home in foreclosure thinking it will be a great bargain, you may be right. But don't forget, that home didn't go into foreclosure overnight. The homeowner had to miss a lot of payments in order to be foreclosed on.
Taking this a step further, if mortgage payments were missed, chances are other maintenance and repairs were not completed as needed either. It's possible and even probable that heating and air conditioning systems haven't been serviced in a timely manner, the water heater hasn't been drained in awhile, and drains may be clogged or slow-running.
Plants may not have been trimmed and fed as they should have been, the lawn has probably not been fertilized or treated for insects and paint has not been reapplied as needed to prevent dry rot around windows and doors.
Be sure to realize that most sales of foreclosures are "as is". Appliances may have been removed by the homeowner or left in disrepair. Even such things as light fixtures and blinds may be gone. A home with a lot of problems may not qualify for certain types of mortgages so there may be a need for a larger down payment or even a cash purchase.
The bottom line in these situations is to be sure you understand what you're getting - or not getting! The Marla Schneider Team can help you buy a home in Glenview or Wilmette. Find out all that Marla and her team can do for you.
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