Chicago & Suburban Real Estate | REO | Short Sales

Smith Partners & Associates
5002 Main Street Suite 4
Downers Grove, IL 60515
Direct: 630.810.9260
Fax 630.810.9782
Email: info@smithreo.com

MRED MLS

Welcome to Foreclosure Open Houses

On this page you will find a schedule for our foreclosed open house properties .

We provide an Open House for general public so everyone has an opportunity to purchase the property. Most of our listings sell within the first 30 days and are priced right. One of the important factor in purchasing foreclosed ( reo) property is to be prepared. There is a high demand for foreclosures market, therefore the more prepared buyer has a better chance to purchase the property.

What is a Foreclosure or REO property?
It is a home owned by a bank or other secured creditor listed by Smith Partners and Associate priced by the owner which is the bank.

How to buy and be prepared:

The following is required in order to submit an offer:

1. Pre-approval letter
2. Proof of funds for cash offers
3. Minimum earnest money on Cash offer is 10 % - Earnest money must be certified funds ( copy of a check with all offers )
4. Lenders name, address and contact number
5. Name of an attorney
6. Tax proration 100 % ( no credit for buyers)
7. Property being sold "as is "
8. No bill of sale ( personal property )
9. No disclosures Except Lead based paint , Radon and Mold disclosures
10. Offers may have a special Fannie Mae Addendum (required after verbal acceptance of an offer) This is in an addition to a Sales Contract.
11. Submit offers to info@smithreo.com or fax to 630-810-9782
12. For more information regarding foreclosed properties or an Open House schedule please contact Anna Caira ( 773) 592-2531

Response Time on offer:

A verbal acceptance, counter or rejection is provided within 24-48 hours during the business week. Seller will not respond to an offer unless property has been on the market for 3 days.