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Mike Trigona (lic. #260715,#300365)

Erik Pearson (lic. #302016)

Home and Country Realty 4922 Port Royal RD STE B-9 Spring Hill, TN 37174 931-487-9898

Disclaimer: Information believed to be accurate but not guaranteed. Buyers should independently verify all information prior to submitting any offer to purchase.

Posts about Spring Hill Foreclosures

Spring Hill TN Foreclosures

The bad market has brought some great opportunities to purchase spring hill tn foreclosures at a discount, but finding these opportunities isn't always easy. Once a bank forecloses on a home, they typically list it with a local real estate agent, and once the home is on the market, then everyone knows about it.

Foreclosures 101:

Everyone is looking for a great deal, so there aren't any hidden foreclosures in spring hill waiting to be found. It's not as much a matter of finding as it is creating the opportunity. In other words, if you're going to get a big discount on a home, you have to understand why a discount could happen and put yourself in top position to get it.

1) Have better timing than anyone else.

A great deal on a spring hill tn foreclosure can be the result of nothing more than better timing. Banks don't look at houses the same way we do. Many times banks have mortgage insurance to cover their losses on the sale of the house, but it actually has to be sold before they can collect. So, they're trying to sell as quickly as possible.

In other cases, a bank may have 1,000's of foreclosures on the market, and even though it needs repairs, they list it at the fair market value until enough time has passed to make some decision-maker in another state finally lower the price.

Either way, you need to be in the right place at the right time, and the only way to be in the right place at the right time is to be in the right place all of the time. In other words, if you're looking for foreclosures in spring hill, you've got to be like a hawk on the market. If a bank puts a great deal on the market, it will probably get multiple offers on the same day; conversely, a bank may wait six months to lower the price to a reasonable amount. If you've been following up on that house, you may have the inside track once the bank is ready to deal.

2) Have more resources than anyone else.

If you have more time (mentioned-above), money, or skill, than other buyers you could get a good discount. Consider this scenario, ff you can buy a spring hill foreclosure for $30,000 below market value but it needs $5,000 in repairs, most buyers won't have an extra five grand laying around. If you do, then you can jump on a deal others might miss. Likewise, if you have some handyman skills (or know someone), then your costs will be lower than everyone else.

3) Have more knowledge than anyone else.

In the world of spring hill tn foreclosures, this one is the most important. Having more knowledge will probably make the difference, and the most important thing to have knowledge about is the cost of repairs. Believe it or not, buyers almost always overestimate the cost of repairs and get scared-off. Please see my post on spring hill tn repossessed homes for a list of average repair costs.

It's like the deal above. If a foreclosure needs $5,000 in repairs, it might look pretty nasty on the inside. Would you be able to see past the $5,000 in repairs to get the $25,000 in equity?