Foreclosures are a tricky business because they usually draw so many offers very quickly. I've set up MurfreesboroForeclosures.com to help buyers looking for the elusive "deal" find it quickly. You simply fill out a form to receive the current list of Murfreesboro foreclosures, short sales, and HUD homes as well as an updated list every Monday showing only the properties without contracts on them. It's really simple.

You'll want to look at short sales and HUD homes as well, as they are often just as good deals. The bank has to get a minimum sales price in either case (also for foreclosures) and they are typically very similar price wise. They won't entertain a lower offer than that "set" price in any case.

Derek,

My company lists foreclosure properties in Murfreesboro and surrounding cities. When a property is priced below market value it will often generate multiple offers. Some foreclosure homes sell at or above list price. Price however, is not the only reason banks accept offers. Type of loan, closing date and other special stipulations affect the offer. For example, a bank may receive two offers on a property where one is a higher offer price with FHA financing and the other is a cash offer with a lower offer price. The bank may choose the cash offer because that buyer would have the ability to close sooner and the bank will not have to deal with possible lender required repairs using FHA financing, since most foreclosure properties are sold as-is. Feel free to contact me for available properties and more information.

Thanks,
Chris Garrett

Hi Derek,

Scott is right. Foreclosures go pretty fast once they hit the market. It is best to find an agressive agent to help you out. If you need some help, please don't hesitate to call.

Good luck!!

Ginger Garland
Crye-Leike, Realtors
615-300-5573
ggarland@realtracs.com

Your best bet is to get a buyer broker who specializes in foreclosures. You need to be one of the first people to see the house, make your offer and have your pre approval letter in hand. A good agent can inform you as home sthat meet your desires come on the market. If you want to go it alone, you need to check the mls hourly. You may also check and see who the big listing agents of foreclosures are in your area. Ask to get on their list when they get a new listing. Often they will send out the info prior to it hitting mls. When you do find what you are looking for, put in your offer immediately, put forth your best price, dont put in any contincies if there are alot of lookers. terms are just as important as price to the banks. good luck in your search.