Whenever you are going to view foreclosure properties you want to make sure that you have the right tools and resources with you at all times!

Foreclosure homes are vacant and should be secured but that doesn’t mean that something or someone has not unsecured the property since the banks rep last checked on the property.

First you want to view foreclosure with a licensed Realtor…never alone. Always, have your cell phone…you want to make sure that you let someone know when you are going to view foreclosure properties and be specific with the place/times and when you should be back…this way if there is an emergency someone will know how you can be found.

I like to carry a flash light because many times bank homes are winterized (water has been turned off to prevent freezing) and the electricity has been shut off. I’ll also wear what I call my lawn mowing clothes/shoes when viewing foreclosures because most of the time the properties are dirty…also a good idea to carry hand sanitizer or even a small first aid kit in the car.

Make sure you bring a note pad so you can jot down all the items in the home that need to be repaired and note in detail the overall condition of the foreclosure property. Your Realtor can help you with calculating the costs of repairs and provide you with the properties repaired value so you can make the determination on whether or not the foreclosure is worth your while.

You can do most of your searching right from your computer by having your Realtor send you foreclosure email notifications whenever a foreclosure comes to the market, with the notifications you can weed out the properties that are not of interest to you and go and view the foreclosures that look good on paper…just remember that sometimes it may look good in the printout but when you get there it could totally not be what you expected.

We are seeing foreclosures selling from 40 to 80 cents on the dollar and depending on the condition some are selling for even less!

There are deals out there and with the right tools and resources getting a deal on a foreclosure property is that much easier!

If you have any questions on how I can help you in finding and getting a deal on a foreclosure property you can call me direct at [312] 217-4354 or by email: info@ilbankhomes.com