Have you heard about foreclosed and or distressed houses and properties in Chicago, but don’t know where to start or what the big appeal is? Well, you’re not alone. Most people understand the cheap price you can buy a foreclosed house in Chicago for. But, did you know that distressed houses for sale are some of the most popular homes for rehabbers flipping houses for profit?
URB Chicago specializes in foreclosed, distressed, abandoned, and vacant properties for sale in Chicago’s southside and westside neighborhoods like Back of the Yards, West Pullman, South Shore, and Englewood. While foreclosed and distressed properties are common in these neighborhoods, not everyone understands the difference between foreclosed and distressed, nor why you should focus your real estate search on them.
Sin crédito. Mal credito. No hay problema. Nuestros especialistas hispanos le darán un trato directo y no habrá terceros ni intermediarios, la aprobación es inmediata. Casas en venta
No Credit Check Financing Available For Distressed Houses And Properties.
Our URB easy no credit check financing continues to give just about anyone the opportunity to purchase a home or investment property. And, since we own the real estate we sell, URB Chicago properties are affordable, processed with minimal paperwork, and there is no need for bank or lender prequalification.
URB casas en venta Chicago y sin ningún papeleo de su parte. Si tienes mal crédito o no tienes crédito para comprar una casa en venta en Chicago con nosotros, no hay problema. Financiamiento sin verificación de crédito.
What’s the difference between a foreclosed house for sale and distressed houses and properties for sale?
Foreclosed house for sale in Chicago
Simply, a foreclosed house for sale is a home whose owner could not pay and/or defaulted on the home loan. The houses can often be purchased for the remaining value of the loan providing a new homeowner a significant discount. These homes vary in condition, but many will have some degree of cosmetic renovation that can be made, though are often move-in ready.
Distressed house for sale in Chicago
Chicago’s single-family homes and properties go back over 150 years spanning decades of architectural styles from Victorian and Gothic, to 1920s bungalows, mid-century ramblers, and so on. Often in older historic neighborhoods, you will find distressed homes for sale which have code violations, need cosmetic upgrades, and some of which have been neglected for decades and need a complete rehab.
Because a Chicago home for sale is neglected, abandoned, distressed, or foreclosed does not mean you can’t bring it back to life. In fact, Chicago rehabbers flipping houses for profit bank on it.
So, why is buying foreclosed and or distressed houses and properties in Chicago worth your while? Here are a few reasons.
Affordable
Foreclosed and distressed houses offer the ability to buy houses cheaper than they would otherwise cost. Buying a foreclosed home means you are often just paying the remaining amount on a mortgage which was paid down. A distressed home may be unsightly to some and will definitely need a handyman’s touch. This devaluation of a house means you can get it for bottom prices. In fact, many distressed houses and abandoned properties for sale through URB Chicago can be purchased for payments comparable to a new car.
Larger profit margin for rehabbers
Buying a foreclosed and or distressed house and property in Chicago is often referred to as buying a handyman special. That means the house is going to be renovated, or in Chicago’s market usually flipped for profit. The less you pay for a Chicago distressed property, the more you can spend on rehabbing the house and getting more profit when you sell.
Beautifies the neighborhood
While foreclosed and distressed houses for sale have a lot of appeal, the truth is that many are run down and have been vacant or neglected for years or decades. Buying a fixer-upper for sale and renovating it helps to preserve and beautify older neighborhoods. The more distressed and foreclosed homes that are renovated the more house values go up and the more new local businesses and residents that come in.
Investing in Chicago real estate by buying foreclosed and or distressed houses and properties in Chicago is not only profitable but also helps to revitalize Chicago’s historic neighborhoods and promotes investing in Chicago’s distressed and neglected real estate for sale.