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Foreclosure in Tennessee : Real Estate Advice

  • All204
  • Local Info23
  • Home Buying110
  • Home Selling17
  • Market Conditions5

Activity 175
Mon Apr 15, 2013
Andrew Fox answered:
No maam i wouldnt worry about finding an agent that specializes in them. As long as your agent is familiar with the process involved you should be ok. More important is finding an agent that you like and get along with since the process can sometimes be a long. I enjoy foreclosures when it is a cash or conventional buyer.

Andrew Fox
Coldwell Banker
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0 votes 8 answers Share Flag
Tue Apr 8, 2014
James Pinson answered:
Not sure I understand your question. Multiple offer situation where you're second highest offer so must they now accept your offer?

If that's the question....the answer is no. All offers are different.'re the highest offer but you want the seller to pay some closing costs, you want an inspection, need to obtain a loan, can't close for at least 45 days, etc. Another offer is 5,000 less, buying with cash, can close in a week, do not want an inspection. If you were the seller might you not want to go with the cash offer, even though it less money?

Let me know if I didn't get the question correct.
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0 votes 5 answers Share Flag
Sun Mar 24, 2013
Amy Shrader answered:
Both of the properties that are foreclosures in The Bluffs are currently under contract.
0 votes 1 answer Share Flag
Thu Mar 21, 2013
Tina Lam answered:
Honestly, when dealing with a bank, there are no expectations. You can easily get totally different responses from the same asset manager at the same bank on two similar deals. Just have your agent stay on top of the situation and hope for the best. ... more
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Fri Jul 17, 2015
Rob McLean answered:
One thing you may do is go to each office and leave cards and tell them what you do and leave a price list
0 votes 2 answers Share Flag
Sat Feb 9, 2013
Buffyhall27 asked:
My house was foreclosed on and the still have a insurance check! Where does the insurance check go
0 votes 0 Answers Share Flag
Tue Aug 18, 2015
Raphael Smith answered:
Hello Jordan:

Would need some more specifics but couple of reasons it may not on the market yet.

Fannie may may be working on it. I have sold a couple of Fannies this year and find them with new carpet and fresh paint some not all.

There could adminstrative issues title etc.

Freddies, Fannies, and HUD's are all listed on their respective web sites and the MLS. I am not aware of way to purchase prior to a formal listing. If you looking at this as inventment property you could be enjoined from purchase for a period of time even after it hits the market.

Please feel free to contact me via my website.
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0 votes 6 answers Share Flag
Fri Dec 21, 2012
Suzanne MacDowell answered:
I am sorry to say I don't think a legitimate investor CAN help you. Do you have equity in the home? In short sale situations the banks require everyone to sign sworn affidavits that it is an 'arms length' transaction, meaning there is no relationship between the buyer and seller including a promise to rent the home or whatever, after the sale is complete. If you sign the affidavit and continue to live there it could be considered bank fraud. They used to make people sign that the owners would never live there again. It's a shame but that's just how it is. ... more
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Wed Nov 14, 2012
Brenda Jolly answered:
Not very likely. Your question is not linked to a particular property but lowball offers are not generally looked upon as serious. In fact many times if countered at all the counter will come back at full price or very near full price. Unfortunately we see a lot of foreclosed homes that have been vandalized and all but destroyed by previous owners. Many banks have realized this and now go in and make substantial repairs on some of these homes before they are put on the ,market for sale. Some still do not. If you feel it is worth $120-$150K at best, why would you even think about offering $50K or less? As agents we do have to present all offers, but if you make a lowball offer, be prepared that you may not get a response back at all from the seller. If you really are interested in the property, get yourself a good buyers agent, have them do comps for you and make an offer based on those comps. Good luck. Have a wonderful week!

Brenda Jolly
Slyman Real Estate
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0 votes 12 answers Share Flag
Sun Nov 11, 2012
LaTonya Martin answered:
Absolutely, you can earn equity from purchasing a foreclosed home. I work with several investors & first time home buyers, who have gotten some great deals in the last view months and moved in with 30K or so in equity. It all depends on the value of the property. They are not giving foreclosures away, but it is a great time to buy! Call me @ 615-582-1156 and I can personally answer your questions for you. Thanks LaTonya ... more
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Thu Oct 25, 2012
River Rock answered:
Hi. What you can do is contact a local real estate agent in your area. Also, you should be able to find out this information by contacting your local title company. They should have information on the status of the trustee auction. ... more
0 votes 1 answer Share Flag
Mon May 13, 2013
Bob Brown answered:
I will have to know the address - please send that to me.

A cash offer might make your offer more attractive usually because you can closed the sale must faster than if you needed a loan.

In most cases when a home has been on the markert for this long you can assume it is over priced or in very poor condition.

Frequently foreclosed home are trashed or not well taken care of by the past owner.

I need the address and I will go to work for you.

It's your turn now for action - send that informaton to me and we will work out an offer.
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0 votes 4 answers Share Flag
Wed Sep 12, 2012
Cynthia Nolen answered:
We have some developers that we work with here in our office, Nolen Realty. They are developing Bethlehem Estates, Park Rd, and Walnut Heights.
0 votes 2 answers Share Flag
Mon Sep 10, 2012
Serena Weiny answered:
Good afternoon!

The house is not currently active on the market.

However, to help you with the lawn issues you can call the codes department at 773-6247.
In Mount Juliet, grass can be no taller than 10".

I do hope this helps!

Serena Weiny
Benchmark Realty
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0 votes 5 answers Share Flag
Tue Aug 14, 2012
Sharon Wayman answered:
Have you spoken with Wells Fargo yet? You will need to provide a hardship letter, income tax returns, etc. Do you have it listed yet? Call or email and I'll be glad to assist you.
Sharon Wayman 615-289-6502 Crye-Leike Real Estate 615-383-2050 ... more
0 votes 3 answers Share Flag
Tue Aug 14, 2012
Ron Thomas answered:
Appraciating the position you are in,

This question will no good!

The thought that a potential Buyer will actually see this note, are phenominal!

Put a large poster on the front door; "DO NOT DISTURB OCCUPANT"

You might also call the Listing Agent and alert him.

Good luck and may God bless
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Thu Dec 27, 2012
Anneke Wilkey answered:
A42netlady, do you know the address of the property or the MLS. If you do and it is still on the market I would love to help you out. My cell is 423-580-7794.
0 votes 1 answer Share Flag
Fri Jun 22, 2012
Ron Thomas answered:
I seems to me that you would be giving away the advantage and the profit of buying at a discount:
Where's the advantage to you?
Do you think that you will be buying at 40 cents on the dollar and the Investor would be so altruistic that they would help you out for another 10%?

If you have, say 50% of the money, why don't you just look for an REO, put the 50% down for a very favorable Interest Rate, and have a nice home.

The other pitfalls may make this decision easy for you;
With Trustee Sales, you often do not get to do Inspections and you may not get to do a Title Search.
Think about these things.

Trying to squeeze a little extra discount out of the deal, may cost you a lot.

Good luck and may God bless
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0 votes 1 answer Share Flag
Fri Jun 22, 2012
Ron Thomas answered:
I think I've heard that they will give you 24 hours to come up with the full amount:
You should check with the Auction first.

Good luck and may God bless
0 votes 2 answers Share Flag
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