Everyday we hear something about the housing market and foreclosures from the news, newspaper and internet. Metro-Nashville area, Sumner County, Wilson, Davidson Williamson County have not been hit as hard as many areas of the country.
But what if you are NOT one of those people in trouble? This could be a great opportunity for you.
Before you go out and start buying or bidding, do your homework, or make sure you are working with an experienced REALTOR and one that has an ABR designation. WHY? Even though these properties present you with an opportunity, you need to know all the ins and outs of these type properties.
You need to find the property, (MLS, REO Inventorys and several other sites you can go to to find these.) You need to know that negoiationing with a lender is very different than working with a seller and normally takes much longer with uncertain results.
Your agent will need to do an indepth market analysis, you need to know that many foreclosed properties in this market are NOT worth what the lender is asking for them.
Most are sold "AS IS". Lean all you can about the property BEFORE, you make your offer.
Be sure to have a pre-approval letter from a lender (PRE-APPROVAL NOT PRE-QUALIFIED), that's information for a future post. If you do not have a lender we will be glad to refer you to a local lender.
Even though there are many things to be concerned with, there are OPPORTUNITIES for buyers.
Make "TEAM MOTHER DAUGHTER" your partner in your Real Estate Transaction and you'll find a friend for life with the experience needed to have a smooth transaction.
DORIS M. FREEMAN (615) 438-3221 - SHERRI SMITH (615) 557-2070
"TEAM MOTHER DAUGHTER" OF RELIANT REALTY