Foreclosures...continued
The financial profile of borrowers who experience Foreclosure is changing. While Foreclosure rates are historically higher for sub-prime mortgages than for traditional mortgage products, rates of mortgage default are increasing among the most credit worthy individuals.
When a bank take possession of a property, it is referred to as an REO or Real Estate Owned property. You may have seen that term.
Considering purchasing a REO (Bank Owned)/Foreclosure property?...Keep the following considerations in mind:
1) The opportunity for the potential buyer to conduct property inspections can be negligible or extremely limited. Potential buyers usually have limited or no access to properties offered at a Foreclosure sale becasue they are often still occupied by the owners or tenants.
2) After completion of the sale and court approvals, if required, it may be necessary for the Buyer to initiate legal action to evict tenants.
3) Buyer is responsible for paying any ouutstanding liens. Some preliminary investigating can reveal if any additional liens exist.
4) In some cases, the Buyer may not receive clear title.
5) A "Redemption Period" may exist. A redemption period allows the originally foreclosed borrower to recover the property after the foreclosure sale. If the borrower makes good on past due payments within a specified period of time defined by the Redemption Period, he/she can recover the property. The Redemption Period may have been signed away by the original borrower in the Deed of Trust at the time he/she purchased the property. Consult a reputable real estate attorney for advice.
There are many items to consider when purchasing REO/Foreclosure properties. Fill out the "CONTACT US" form for additional information and CLICK HERE to search area REO/Foreclosure properties in Middle Tennessee.
Prime Development Property For Retail & Commercial....
- Price:
- $40,000,000
- City:
- Smyrna
- Beds:
- Baths:
- 0
- Type:
- Commercial
- MLS® #:
- 1305658
- Provider:
-
Prime Development Property For Retail & Commercial. Acreage Location @ New Smyrna Exit Off I-24. Zoning...
Prime Development Property For Retail & Commercial....
- Price:
- $40,000,000
- City:
- Smyrna
- Beds:
- 0
- Baths:
- 0
- Type:
- Land
- MLS® #:
- 1305596
- Provider:
-
Prime Development Property For Retail & Commercial. Acreage Located @ New Smyrna Exit Off I-24. Zoning...
Exceptional One Of A Kind Estate, Designed By Mark...
- Price:
- $19,500,000
- City:
- Nashville
- Beds:
- 6
- Baths:
- 9½
- Type:
- Residential
- MLS® #:
- 1295376
- Provider:
-
Exceptional One Of A Kind Estate, Designed By Mark Harrison Of Adkisson/harrison Built By Will Andrews,...
This Property Is Owned And Operated By The Tennessee...
- Price:
- $19,500,000
- City:
- Spring Hill
- Beds:
- 0
- Baths:
- 0
- Type:
- Land
- MLS® #:
- 1237900
- Provider:
-
This Property Is Owned And Operated By The Tennessee Children's Home. They Will Need Some Time To Move...
This Property Has So Much More To Offer Than Is Possible...
- Price:
- $19,500,000
- City:
- Spring Hill
- Beds:
- Baths:
- 0
- Type:
- Commercial
- MLS® #:
- 1237747
- Provider:
-
This Property Has So Much More To Offer Than Is Possible To Put In The Mls System. This Listing Consists...
Agent Must Be Present For Showings, No Walking The...
- Price:
- $18,000,000
- City:
- Brentwood
- Beds:
- 0
- Baths:
- 0
- Type:
- Land
- MLS® #:
- 1317212
- Provider:
-
Agent Must Be Present For Showings, No Walking The Land Allowed Without Agent. Much Work On The Roads...
1/2 Farm Zoned High Intensity, The Other 1/2 Is Zoned...
- Price:
- $16,000,000
- City:
- Thompsons Station
- Beds:
- Baths:
- 0
- Type:
- Commercial
- MLS® #:
- 1277776
- Provider:
-
1/2 Farm Zoned High Intensity, The Other 1/2 Is Zoned Low Intensity. High Intensity: Ex.retail, Office...
1/2 Farm Zoned High Intensity, The Other 1/2 Is Zoned...
- Price:
- $16,000,000
- City:
- Thompsons Station
- Beds:
- 0
- Baths:
- 0
- Type:
- Land
- MLS® #:
- 1277480
- Provider:
-
1/2 Farm Zoned High Intensity, The Other 1/2 Is Zoned Low Intensity. High Intensity: Ex.retail, Office...
Mulit-phase Project 38+- Acres Commercial Land Zoned...
- Price:
- $15,200,000
- City:
- Clarksville
- Beds:
- Baths:
- 0
- Type:
- Commercial
- MLS® #:
- 1300920
- Provider:
-
Mulit-phase Project 38+- Acres Commercial Land Zoned C4, Approx.1300 Ft Frontage On Hwy 76. Suitable...
This Is The Graves Family Farm, Which Is North Of The...
- Price:
- $12,900,000
- City:
- Nashville
- Beds:
- 0
- Baths:
- 0
- Type:
- Land
- MLS® #:
- 1189667
- Provider:
-
This Is The Graves Family Farm, Which Is North Of The Land Sometimes Know As The May Property. This...
Estate Of George & Nancy Jones;78 Park-like Acres;...
- Price:
- $12,500,000
- City:
- Franklin
- Beds:
- 0
- Baths:
- 0
- Type:
- Land
- MLS® #:
- 1261986
- Provider:
-
Estate Of George & Nancy Jones;78 Park-like Acres; 9 Stall Barn; 5 Lg Outbuildings; 2 Lakes; Outdoor...
Estate Of George & Nancy Jones. Acres; 5 Lg Outbuildings;...
- Price:
- $12,500,000
- City:
- Franklin
- Beds:
- 4
- Baths:
- 6½
- Type:
- Residential
- MLS® #:
- 1261603
- Provider:
-
Estate Of George & Nancy Jones. Acres; 5 Lg Outbuildings; 2 Lakes; Barn;outdoor Entertainment Area W/kitchen;...
