$483,764 EMV

Single-Family
Get the Preforeclosure Address

Monte Carlo Way
Joliet, IL 60436

Overview

This Single-Family is located at Monte Carlo Way, Joliet, IL 60436. This listing is NOT an active listing. Updates to this listing have stopped. This listing may be off the market. No further information is available at this time.
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Status: Inactive
Listing ID: 61628328
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Learn about Monte Carlo Way in Joliet, IL

This single-family property is available as a preforeclosure at Monte Carlo Way. Based on our analysis of the current market conditions in Joliet for Monte Carlo Way and comparable listings, the estimated market value is $483,764. If purchased for rental purposes, the monthly rental rate could range between $1,191 and $1,610. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at Monte Carlo Way are updated daily along with others in Joliet, Illinois.


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Property Information

  • Day(s) On Site: 55
  • Subdivision: IN THE ESTATES
  • Property Type: Single Family Dwelling
  • Case Number: 14 CH 2329-0
  • Plaintiff: U.S. BANK TRUST NATIONAL ASSOCIATION, NOT IN ITS INDIVIDUAL CAPACITY BUT SOLELY AS OWNER TRUSTEE FOR RFC 2 TRUST,
  • Defendant Name: BENNIE G. COBLE; VICKIE SUE COBLE; ESTATES AT CEDAR CREEK HOMEOWNERS ASSOCIATION; COAL CITY REDI-MIX COMPANY A/K/A COAL CITY REDI-MIX, INC.;
  • Deed Category: NFS
  •  

Public Records

  • APN: 10-11-04-301-017-0000
  • Property Type: Single Family Residence
  • Township: JACKSON TWP
  • Subdivision: IN THE ESTATES

Community & Neighborhood

This property in Joliet, IL is located in the In The Estates Subdivision.


Preforeclosure

The property located at Monte Carlo Way in Joliet, IL is listed as a Preforeclosure

This listing located at Monte Carlo Way in Joliet, IL could be available as a Rent-to-Own listing as well, additional diligence will be required from the buyer to determine if this listing can be approved as a RTO.

Please take note that this property in Joliet, Illinois is not listed as a Rent-to-Own (RTO) opportunity. It is currently in an initial default stage in Joliet, IL, commonly referred to as Pre-Foreclosure, indicating that the homeowner has missed at least one payment and is considered delinquent. However, instead of going through a potentially lengthy foreclosure process, which could take up to 18 months, the homeowner may be open to considering a Rent-to-Own option that covers their mortgage.

Since Pre-Foreclosure properties are not formally listed for sale, there is no asking price available. Instead, you’ll find either the original loan balance or an Estimated Market Value (EMV) provided. To make a reasonable offer for this home, it’s advisable to use either the loan balance or EMV amount in conjunction with local sale price comparables to determine an appropriate offer. Alternatively, the homeowner might be willing to work with you on a monthly amount that can help them avoid the foreclosure process.

You may also want to check with a real estate attorney or other legal authority to discuss the potential risks of executing a Rent-to-Own agreement with the current Pre-foreclosure owner. If the current owner in Joliet, Illinois doesn't make their mortgage payments, they could lose the property which would directly affect you and your Rent-to-Own agreement.

For this reason, many buyers find a real estate investor or investment company to buy a Pre-Foreclosure property from the current owner. The investor/investment company could then offer you a Rent-to-Own agreement on that property that you worked out with them in advance, which could stabilize the investment and prevent complications.

First Steps to Buying a Preforeclosure

Preforeclosure status means the owner of the property has defaulted on his mortgage obligation and the lender is taking steps to foreclose on the loan and take possession of the property. This situation places the property owner and the lender in a disadvantaged position. But it may not be too late for the property owner to work things out with his lender.  At the same time the lender may be interested in allowing a short sale (sale of the property for less than the amount owed) just to avoid the costly process of foreclosure on the loan, and then the expense of marketing the property. That leaves open the opportunity for a real estate investor to come in and solve the problem for both parties.

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Auction Information

  • Auction Date: 04-18-2024
  • Auction Time: 12 Noon
  • Auction Location: Courtroom 201, Will County Court Annex, 57 N Ottawa St, Joliet, IL 60432

Legal Information

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County Information

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Rental Value

The estimated rental value for Monte Carlo Way located in Joliet, IL is $1,400/month. Comparable homes around Monte Carlo Way that are rentals have monthly ranges starting as low as $1,191 per month and as high as $1,610 per month. An owner looking to use this property as an investment could bring a return in the area of $1,191 - $1,610 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.

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Monte Carlo Way
Joliet, IL 60436

Single-Family

$483,764 EMV

Status: Inactive Listing ID: 61628328

Property Information

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Public Records

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Property Description

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Listing URL

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