You can always appeal your taxes or rather the assessed value of your home. Cook Coutny accepts applications from Jan to Sept. each year. You will need to get info on 3 most recently sold similar houses in your area to prove the market value is lower from the value in their records. Here's a link to cook county's schedule of application filing dates http://www.cookcountyassessor.com/appdeadlines/appealdeadlinesform.aspxIf you are 65 or older you can also apply for senior exemption and senior freeze. F
A good agent should be able to help you despite the effort needed to target these lenders in particular.
iT DEPENS HOW SOON YOU WANT TO RENT IT OUT. YOU CAN ALWAYS TRY ASKING FOR MORE IN THE BEGINNING AND WAIT FOR FEEDBACK. IF IT'S SLOW LOWER THE PRICE PRICE AFTER A WEEK OR SO. GOOD LUCK
IT IS HIGHLY RECOMMENDED THAT YOU USE AN ATTORNEY DURING YOUR HOME BUYING PROCESS. WITH AN ATTORNEY YOU ARE PROTECTED FROM MANY UNPREDICTED INIDENTS. NOT ALL TRANSACTIONS RUN SMOOTH. YOUR ATTORNEY WILL RUN A TITLE SEARCH FOR YOU AND LOOK FOR ANY LIENS, WILL REVIEW THE PURCHASE CONTRACT FOR YOU AND EXPLAIN ALL THE PROVISIONS IN THE PURCHASE CONTRACT OR LOAN DOCUMENTS ETC. REAL ESTATE AGENT MAY NOT DO THIS FOR YOU. THE MONEY THAT GOES TO AN ATTORNEY IS ONLY A FRACTION OF THE WHOLE SUM INVOLVED YET IT IS A GOOD INVESTMNET IN YOUR HOMEOWNING FUTURE.
Click on HOMES in tha main panel and scroll down to RECENT HOME SALES. Zoom in the map to the nearest point of interest and all most recent home sales will show on the right. You should also print out zillow's approx. value of your home. Most banks refer to this site during the first contact with a client during the finance/refinance process. You can also ask your realtor to prepare a CMA (comparative market analysis) to defend your case. However, I believe it is too late to appeal your taxes this year.At least in Dupage county where applications are accepted a June 6-Sept 6. In COOK COUTNY IT DEPENDS WHAT TOWNSHIP YOU ARE FROM.
What is the address? I might be able to help you. And what information are you looking for?
It also depends on the final price this house sells at auction. If the sale price is high enough to pay back all the lien holders then you would not be responsible for them later on. :-(
Yes you are Buying at auction means you are taking the house "As Is" with all the liens: 2nd mortgage, real estate taxes, homeowner association dues etc. It is best to have your attorney run the title search for you so that you have an estimate of all other expenses awaiting you. When a property does not sell at auction it goes to the 1st lien holder who clears most of the liens before putting it on the market. The only fees you might have to cover when buying, in IL at least, from such a lender is up to 6 months' association dues which are still negotiable. I believe it is a way safer to buy directly from the lender. It is always advisble to buy a title insurance in both instances though which keeps you covered from any liens not discovered in a title search. Your attorney should be able to explain that to you.
It is best to contact a few lenders. All lenders have different guidelines. If you get declined by one lender go to another one. And yes your credit score matters a lot. Additionally you will be required to pay 20% down unless it is a FHA loan.
Short sales can be listed as short sales as long as they are not foreclosed. The foreclosure process can take around a year or sometimes longer. The foreclosure process starts a few months after owner defaults on the loan. However there are situations when owners decide to list their homes as short sale before they stop the payments. Your realtor should be able to check for you whether the house you are interested in is being preforeclosed and give you an idea when it should be available for sale by lender. I agree with the previous advice. If you want the house badly you should not wait any longer. Although it takes forever to close a short sale it is also quite stressful to get into the bid war on a foreclosed property. And you never know if you are going to be the winning bidder. Good luck to you.