PenFed Realty Foreclosure Finder Service - Clarksville, TN

You could save thousands buying foreclosure and Short Sales.

Foreclosure Finder Service for Clarksville, TN; Ft. Campbell; and Montgomery County bank-owned properties.

We can help you set up an automatic email list of all the foreclosures and REOs in Clarksville TN and Montgomery County. Then, at your request, our system will sift and sort through all of the information, automatically finding and matching the foreclosed properties that meet your exact specifications. The information is then e-mailed to you on a daily or weekly basis as new properties become available.

Our Foreclosure Finder Service gives you access to inside information normally available only to real estate agents and industry insiders. You can study, compare, and drive by the properties. When you find a bank-owned home you like just pick up the phone, give us a call, and we'll make the arrangements to get you inside at your convenience.

Don't pay subscription fees to get lists of foreclosure homes in Clarksville, TN or Ft Campbell, KY. Our list is available to you free.

Lately there has been a lot of buzz in our area of Clarksville, TN about foreclosure properties. If you've been wondering whether investing in a foreclosure home is right for you or not, here are a few things to consider.

The Price of Foreclosed Homes

If you are looking for homes in pre-foreclosure, which is when the homeowner hasn't paid their mortgage for ninety days and the bank that owns the mortgage has filed a "lis pendens" or "suit pending", then investing will be very competitive. When the bank files the "lis pendens" the notice is made public, often listed in the classified ad legal section of the newspaper. However, if the home is in pre-foreclosure you are still negotiating and buying directly from the homeowner, which is why it can be so competitive. Often homeowners are overwhelmed with offers. If you are considering buying from a foreclosure auction then the banks are usually prepared to let the foreclosure property go for eighty to ninety percent of its market value. If you bid on a home at a foreclosure auction you typically need to register the day before and you are expected to pay the full amount with a cashier's check within twenty four hours.

REO, or Real Estate Owned properties, are owned by the bank. Usually bank owned homes are sold at competitive prices for a quick sale. REOs are cash only deals meaning that you will need to be pre-qualified and need to show a "proof of funds" such as a bank statement. Buying bank owned properties is not as competitive as pre-foreclosure but it is more competitive than buying at a foreclosure auction. This is because all REO properties are listed on the MLS, or Multiple Listing Service, so anybody can access the property information through our home search. Since banks need to liquidate these properties quickly, you will get the best deal by making a cash offer.

The Quality of Foreclosed Homes

Similar to the price, the quality of foreclosure homes depends on what stage of the process a home is in.

If you are looking at pre-foreclosure homes then the condition of the property is dependent on the homeowner, since you will be buying directly from them.

Homes at a foreclosure auction are a little riskier than homes in pre-foreclosure. When you buy a property at a foreclosure auction you get the property "as-is", which means if there are liens, judgments or code violations recorded they stay with the property. You also face the risk of having to evict "squatters" or unwanted tenants. It is important to do your homework thoroughly on every foreclosure home you wish to bid on.

Bank-owned properties are often cleaned out and cleaned up to increase salability. However, they are often sold "as-is", meaning the banks won't be willing to make repairs to the foreclosure property.

Minimizing the Risks of Foreclosure Properties

The profits from buying foreclosure properties in Clarksville TN can be big, especially for long-term investors. These attractive profits can make you want to jump head first into investing, but there are a few things you need to do first.

Start by enlisting the help and advice of one of our Realtors who is experienced in Clarksville TN foreclosures. They can help you learn where to start, help you negotiate with banks and homeowners, and provide moral support. You can also study up on properties in your area - learn which neighborhoods have bad soil, which subdivisions are poorly constructed, etc. You should study up on foreclosure laws for Tennessee. It is best not to start buying foreclosures until you fully understand them, or until you are working with a Realtor® who does.