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Foreclosure in 37920 : Real Estate Advice

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  • Home Buying1
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Activity 16
Sat May 12, 2012
Bob Evridge answered:
It would help to know price range, location, and what you would consider "small acreage."
0 votes 8 answers Share Flag
Sun Mar 20, 2011
marty hartsell answered:
It isn't a REO if it hasn't been foreclosed on. Have a local Realtor pull up the court records to see who the owner of date is. If may have had a 2nd loan on it and that bank bought it at the auction. marty ... more
0 votes 1 answer Share Flag
Thu Sep 16, 2010
Karen Wisne answered:
Well, of course your Realtor can tell you. Most foreclosed homes are listed with a Realtor (through the bank), so your Buyers Agent will have access to them on the MLS. But another good place is the government website www.hud.gov. Look for the link on buying homes and you'll find some good information there. ... more
0 votes 7 answers Share Flag
Sun Aug 29, 2010
Julia Odom answered:
It varies (a lot). Could be as little as a month or as much as a year+. There's no easy way to know which agent will eventually get it. Your best bet is to have your own agent set up an automatic search that will notify you when it comes on the market. ... more
0 votes 7 answers Share Flag
Mon Apr 5, 2010
Laura Foster answered:
Forgot to add the last question.....will the bank extend the closing date another few weeks? Thank you.
0 votes 10 answers Share Flag
Fri Mar 19, 2010
Chris Rogers answered:
That is a new thing the banks are offering. They will lease the home back to the original owner, ask my why, I don't know. Why do the banks do the things they do. The waste more money dealing with these Foreclosures than its worth in my opinion. Hope that helps. ... more
0 votes 3 answers Share Flag
Fri Mar 19, 2010
Anna M Brocco answered:
Fri Jul 3, 2009
Fred Griffin answered:
Only an Attorney is qualified to answer your question.

I am sorry to hear of your situation, and wish you well.

--------------------
Best wishes,
Fred
0 votes 6 answers Share Flag
Fri Jun 19, 2009
Larry Story answered:
Joyce it just takes alot of patience and some time. I have a number of short sale listings. I had one closing today and another coming up. Both listings had multiple offers. The problem with short sales is that you have to be flexible since each one is different depending on the banks involved.

For the most part you start with the listing. Begin the communication early and make sure they have all the info including the listing agreement. Most banks will send out a financial packet to fill out (the sellers) that needs to be completed and sent back. Then I advise reducing the price to bring in the offers.

If you are on the buy side patience is key. You need to be patient as the listing agent works their way through the banks red tape and gets the sale approved. It takes some work though.

Hope this helps,
... more
0 votes 5 answers Share Flag
Tue Apr 28, 2009
Bob Evridge answered:
1st Time Buyer,

Since I tend to over explain a discussion of foreclosures would exceed the 5000 characters allotted for answers here. I'd be happy to talk with you if you could give me a call.

Best Wishes,
Bob Evridge
Dream Facilitator

REALTOR®, Broker, e-PRO,GRI
Hop Bailey Co.
310 Forest Park Blvd
Knoxville, TN 37919
"The Extra Mile Is Never Extra"
865-660-0198 DIRECT
865-684-4899 FAX
MailTo:Bob@BobEvridge.com
http://www.BobEvridge.com
... more
0 votes 5 answers Share Flag
Mon Apr 6, 2009
Bob Evridge answered:
The real answer to this is, "It Depends."

You live in the same development so you know what the neighborhood is like. If you were looking for a place to rent would you rent there?


What would the purchase of this place do to your cash reserves? What would happen if you were unable to rent it for a month or two.

Do you really want to be a landlord? There are a lot of duties and responsibilities involved. There is more to it than collecting the rent every month. Are you prepared for the phone calls when the water heater starts to leak or the heat doesn't work? What about when the neighbors complain about the noise?

Financing is different on income producing property. You need to talk with a lender before you go any further. Sometimes interest rates are higher. Depending on the lender, there may not be as much flexibility in putting closing costs into the loan. In addition, with the current climate in the financial world, lenders may want more money up front for a down payment than in the past. I repeat, talk with a lender before going any further.

If you should decide to pursue this I have some tips for you that I learned the hard way which I would be happy to share.

Best Wishes,
Bob Evridge
Dream Facilitator
REALTOR®, Broker, e-PRO,GRI
Hop Bailey Co.
310 Forest Park Blvd
Knoxville, TN 37919
"The Extra Mile Is Never Extra"
865-660-0198 DIRECT
865-684-4899 FAX
MailTo:Bob@BobEvridge.com
http://www.BobEvridge.com
... more
0 votes 1 answer Share Flag
Wed Oct 1, 2008
Brenda Jolly answered:
Hi Dick, I checked on this and nothing shows for sale currently at this address on our MLS website. How long has the sign been up? I can provide you with tax information and lot size, last sale date, price, etc but if it is for sale by a real estate company, they have not yet entered it into the system. Tell me what you need to know and I will be happy to help you out. you may email me directly at brenda@knoxvillefindahome.com. I actually used to live on Pine Grove (for 10years) and am familiar with this address. ... more
0 votes 1 answer Share Flag
Fri Jul 17, 2009
Brenda Jolly answered:
Cheryl, Some rental properties may be seen at point2agent.com or viewhomes.com. If you are interested in buying, have you been pre-qualified for a loan or will it be a cash sale?
0 votes 2 answers Share Flag
Tue Jun 17, 2008
Susannah Dunn answered:
Do you have an address? Or MLS number? If so, I can see if I can more details for you...price should be accurate if displayed.....
0 votes 3 answers Share Flag
Mon Jan 19, 2009
Suzy Trotta answered:
There are several great neighbohoods that meet your criteria. Do you want a house or condo? Are you interested in any particular part of town? Let me know and I'd be happy to narrow it down for you.

thanks!
Suzy
... more
0 votes 7 answers Share Flag
Thu Mar 18, 2010
Toby Boyce answered:
Vickie,
We need to know more to be able to help you out here. Is this a short-sale?

I'm assuming there is some type of distress in the situation, or you wouldn't be asking. Basically, it depends on the type of distress and what the terms of the sale where. In whatever legal documents you were served, there should be an answer to this question. ... more
0 votes 5 answers Share Flag
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