Legal Question in Real Estate Law in Illinois

I am in a deal where the property is in foreclosure but the foreclosure is not complete. I put in an offer on the property directly with the bank. Their counter offer was cash and I would also own the foreclosure. My question is what does this mean and is it a good deal for me???


Asked on 12/18/15, 11:01 am

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

No way to tell from the information you have provided. Are you buying the property after the foreclosure is complete? Are you buying the note? Are all lienholders and owners part of the foreclosure? You need to hire a real estate attorney with experience in foreclosures.

Read more
Answered on 12/18/15, 11:26 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois