Title

Henry Rivera

Real Estate Purchases & Sales

Charles Rutenberg Realty of IL

1733 Park Street, #150 Naperville, IL 60563

Direct: 630-759-8021

Fax: 630-206-0960

Foreclosure System Application Form

Before Repairs & Upgrades	After Renovation

To help you understand the details of the system and for an opportunity to answer your questions, just complete the form below. You won't be obligated or committed to absolutely anything by completing the form below.

NOTE:

The foreclosure system does not add absolutely any cost to the purchase of a foreclosed property. As indicated above, it is FREE.

1	A free no-obligation evaluation of the government program qualification. This is to determine if you qualify for the government program.
2	A list of foreclosed properties on the market that fits your needs. No more wasting of your valuable time looking at homes that don't match your needs and taste. Only those properties that fit your profile will be sent to you.
3	Updates as new properties are added or deleted from the list.
4	Freedom to select the best properties in the style that you want and in the location you wish to live in. Just tell us the style, etc. and where and we'll send you only those matching your wishes.
5	A comprehensive evaluation of the homes you are interested in buying at no cost* to you. This is the initial physical evaluation of the property.
6	Arrangement to have your chosen property inspected by a licensed and approved inspector. Like with any other home purchase, the cost of the inspection is paid by the buyer. There nothing added to the cost of the home inspection just because it is done with this program. In fact, you can chose your own inspection company.
7	Full disclosure of costs of materials and labor required to renovate the home. Everything is disclosed in writing to you.
8	Completion of all government required paperwork. This paperwork must be completed by the government-approved contractor.
9	Free representation by a licensed Realtor^® . Fees are paid by the bank selling the foreclosed property, therefore, the buyer gets free representation. Bottom line, it cost you nothing to have a licensed Realtor^® represent your best interest.
10	Recommendation for legal representation by an attorney specialized in residential real estate transactions. Like with any other home purchase, the cost for legal representation is paid by the buyer. Just because you are using this system does not mean that you are restricted from using your own attorney. You are totally free to do so. But if you don't have an attorney, we can recommend one at no cost.
11	Your choice of upgrades to be included with the new home.
12	Freedom to select all decorative elements (style, color, etc.) for the repair and upgrades.
13	A 1-year warranty on the renovation workmanship. Besides meeting the government standards for workmanship, you will have the assurance that the work done will be done right and of top quality.

* Some conditions apply

Yes, you can buy a foreclosed property, even those damaged homes, with a government-approved program. This means that you won't be paying those extra (and sometimes hidden fees) that mortgage brokerage offices often tack-on.

Act today!

This is a great opportunity to take advantage of rock-bottom prices, use the government's help and have the peace of mind of having a home professionally repaired and upgraded to your liking. And the best part of all, it is your best chance to fulfill your dream of owning your own home due to today's housing market conditions. Once the market changes, these opportunities might be gone for good.

The market is in your favor!

Remember, the cost of repairs and upgrades is rolled into the purchase price of the foreclosed home. You don't need additional monies or a second loan for the repairs.

The pictures below are from an actual foreclosed property that was repaired and upgraded. The kitchen splash wall was redone and the flooring, light fixtures, and the cabinets were all upgraded. To keep costs to minimum, the appliances were reused except for the new microwave oven.

Please consult with your licensed real estate agent or your real estate attorney for questions about the above terms.

Here is the good news...

If you had the opportunity to purchase a foreclosed property at a rock-bottom price, turn it into your dream home, pay with a government-approved program and move into a fully renovated home without doing any of the work yourself, would you consider it?

If you said yes, you can take advantage of a system that will allow you to:

• find the best foreclosed properties on the market that fits your needs

• take advantage of rock-bottom prices

• determine if a property is physically worth it with a property inspection by an approved

licensed inspector

• have any defects repaired by an approved contractor with the assurance of a warranty

• have the flexibility of adding upgrades that fit your needs and taste

• use a government program to finance both the purchase and repairs (in one loan)

A team of professionals have combined their respective expertise to create a comprehensive system that allows you to purchase a foreclosed house without a lot of cash and without the headaches of fixing it. Please note that the system itself is FREE. This is your chance to even out the playing field with the investors.

Here is what you get:

• "Short Sales" means that the mortgage lender allows the current owner to sell the property for less than the amount owed. In a nutshell, the lender is willing to take a loss for the difference between the amount owed and the sale amount (which is "short" of the amount owed). Short sales take months to process and very few actually close because there are so many legal interests involved with the property. In most cases, short sale properties end up in foreclosure. Few buyers are willing to endure the pain short sale transactions bring. It is likely that those horror stories you have heard were in fact short sale transactions. I personally do not recommend buyers to consider short sale properties when hunting for a house.

• "Foreclosure" means that the mortgage payment was overdue and the bank exercised their right to repossess the property to satisfy the debt. When this happens, the bank takes ownership of the property. Purchasing a foreclosed property is simple because, you are dealing with one entity (the bank) just like purchasing a regular home from a home seller.

$$Save Thousands with Foreclosed Homes$$

Yes, you can save thousands of dollars when buying foreclosed properties! Unfortunately, most purchases are done by investors. But now you can also take advantage of the same tools investors use when buying these types of properties.

Why should you consider buying a foreclosed home? Because you would be paying substantially less! Foreclosed homes are bank-owned properties that have been placed for sale at unbelievable prices. In some cases, buyers can purchase these properties at 50% of the market value. These are fantastic deals!!

Why would banks sell these properties at such a low price? Because banks are not in the business of reselling real estate, therefore, they try to get rid of them as quickly as possible. Furthermore, every property that they hold in their books, costs the bank a lot of money in legal fees, permits, maintenance, property taxes, etc. Banks call these homes REO (Real Estate Owned) properties.

If you thought that by purchasing a foreclosed property you would be forcing a family out of their home, please understand this - YOU ARE NOT. When a foreclosed home is placed on the market, the family is long gone (the property is vacant) and the new owner is the bank.

If you could buy your future home at rock-bottom prices, would you pass up the opportunity?

"Well..., I would consider it but I have heard that foreclosed properties have been trashed by the previous owner and are not worth it."

Even though it is true that some of these properties have been trashed, there are homes that are in pristine condition. Here is where investors and consumers differ. Investors have some tools to determine if a particular property is a good buy or not. In other words, they determine if the cost of clean up (or repair) would make it unattractive to buy.

But now you have access to the same tools investors use to evaluate foreclosed properties.

So, if you are on the market for a home, don't limit yourself to regular listings. You could be losing the opportunity to save thousands in your next home purchase.

"Okay, that sounds reasonable but I have heard so many horror stories about "short sales" that I don't want to be caught in that mess myself."

I am glad that you brought the "short sale" situation. Foreclosures and "short sales" are two very different things and the terms should not be used interchangeably. Let's clarify the terms: