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Vernon, Chicago IL 60637

Total views: 9 Last updated 7/22/08

$172,500

br ba 1,248 sqft

Apartment

From: RealtyTrac

Listing Type: Foreclosure

Status: Lis Pendens (Pre-Foreclosure) What's this?

Year Built:

Price/sqft: $138

Lot Size:

Days on Market: More than 30 days

ZIP Code: 60637

Neighborhood: Woodlawn

Additional Info: Prior sale history, Assessor records

This property is a Lis Pendens. This is the initial document filed by an attorney or trustee on behalf of the foreclosing lender that starts the foreclosure process. This 0 square foot property has 0 bedroom(s) and 0 bath(s). The estimated loan balance is $172500. To access more extensive information...
Register at RealtyTrac for more details

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Pre-Foreclosure (Notice of Default or Lis Pendens)

The foreclosure process begins when a borrower/owner defaults on loan payments and the lender files a public default notice, called a Notice of Default or Lis Pendens. Buying a property in pre-foreclosure involves approaching the borrower/owner and offering to buy the property outright.

Auction (Notice of Trustee Sale or Notice of Foreclosure Sale)

If the loan is not reinstated by the end of the pre-foreclosure period, potential buyers can bid on the property at a public auction. Buyers often are required to pay in cash at the auction and may not have much time to research the title and condition of the property beforehand; however, a public auction often offers some of the best bargains and avoids the unpredictability of dealing directly with the borrower/owner.

Bank-owned (Real Estate Owned)

If the lender takes ownership of the property, either through an agreement with the owner during pre-foreclosure or at the public auction, the lender will usually want to re-sell the property to recover the unpaid loan amount. The lender will then typically clear the title and perform needed maintenance and repair; however, the potential bargain for these REO homes is typically less than a pre-foreclosure or auction property.

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Vernon, Chicago IL 60637 (Location is approximate)

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How Vernon compares to Chicago

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This home
Listing price:	$172,500

Compared to Chicago
Avg. listing price:	$449,961	-62%
Avg. sales price:
Avg. price/sqft:

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More trends for Woodlawn real estate

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