Checking Classiefieds: California Schwartz Sale. Auction For Land in Tennessee. Home For Sale North Carolina. Nope, we are looking in Illinois, for a home for a friend. He has been looking for a home where friends and missionaries can come and stay for a week or two at a time. He would like it to be outside of town. He is actually looking for a place that might sleep 8-10. It needs to have at least a small amount of property around it, so children who come will have some room to play.
He is considering all his different options. He can purchase through a real estate agent, an individual, a foreclosure or possibly an auction. There is also the possibility of a short sale. Although you may have to wait a little longer you could get a good buy using this option. A short sale is when you pay less than what the seller owes, but there is negotiating going on because the bank or agency they owe the rest to must be willing to take a loss on the rest owed. This is great for the seller, in that he does not go through a foreclosure, and the buyer benefits by getting a great buy on a home. I just recently learned about a short sale.
Anyway, we are still in the looking stage. He is also looking now, because this is the off season and many people don't want the upkeep on a home they are no longer living in through the winter. Of course he has to consider this too. Is it worth the upkeep when it is empty to have a home when people are visiting. I will say, it is nicer than staying in a hotel. We personally have experienced both. So this could be a benefit either way. Who knows though, it could be a month or a year before he actually makes a choice. In the meantime I am enjoying getting to view the homes for sale.
Have any of my neighbors recently purchased a home? Have any of you purchased through a short sale? Pros and cons? Let me know, all advice is appreciated.
Disclaimer:This is a sponsored post for Schwartz Law Firm, however, all thoughts and opinions are mine.