I need to get rid of this property....help!

I received a call recently from a man who was cited for building code violations by the City of Chicago.  There were 15 violations in total.  He told me that he could no longer afford the property anymore.  He was losing money every month and now he had to deal with all of these violations.

After a free phone consultation, we decided it was best if he sold the property.  He owed approx. $125,000 on his mortgage but the property was only worth about $100,000.  He did not have the money to make up the difference.  We decided the best option was to do a short sale.  A short sale will allow him to sell the home with the bank taking the loss.

The Buyer will take the property subject to the building code violations.

If you are in a similar situation, call our office for a free consultation.

Posted by Bradford Miller Law, P.C.

Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning

134 N. LaSalle, Suite 1040

Chicago, IL 60602

312-238-9298

http://www.bradfordmillerlaw.com

Offering free legal representation to homeowners seeking a short sale

Key words: Chicago short sale attorney, Chicago landlord tenant law attorney, Chicago estate planning attorney, Chicago real estate attorney, Chicago real estate lawyer, Chicago real estate closings, Chicago building code violations, short sale attorney Chicago. This is intended to be advertising.  Please consult with an attorney before acting on any information given here.