Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago,

User Stats

870
Posts
345
Votes
Frank S.
  • Specialist
  • Chicago, IL
345
Votes |
870
Posts

Chicago Off-MLS Property ( Foreclosure?)

Frank S.
  • Specialist
  • Chicago, IL
Posted

Hi Bps, 

Well, I found a distressed seller through my off-MLS search. Any tips are appreciated. I know I need a lawyer.

The seller is offering teh property through  Deedclaim Quit transaction. He claimed bankcruptcy last year.

Water bill either: $5,706 or $11,000, house was vacant for 8 years. The City of Chicago apparently doesn't' give them a straight information.

Q1:

Can I obtain this information from Chicago without a lawyer?  Can water bills be negotiated?

As for the property taxes someone is supposedly taking over the house by paying off the taxes.

Q1: I wonder who this "someone may be", see info below

Taxes due $1,222 (I checked online)

Closing cost: 3,000

Asking: $10,000

Liens:  $23,000

Seller is asking $39,900 in case there may be a few more issues I'm not aware of that may come up at closing.  In case....

I think this smells very strange.

Can anyone recommend a lawyer in Chicago. I don't want to involve my attorney ( family member) on this project.

Thanks!

Frank

Loading replies...