Many have asked about foreclosures in our area.
I will first start off by saying we don’t have massive amounts of foreclosures, but we do have some very interesting ones. Are you interested in Sevier County, Knox County or the surrounding areas? Are you looking for a residence for yourself, or a residence that you could rent or flip or are you perhaps looking for an second home in the Smoky Mountains or an investment cabin to put on a rental program? We have all of these!
Right now I am helping someone buy a log home for $115,000 and it will appraise for about $200,000. It has a very small list of items that will cost about $3,000 to repair. So we are excited!
The way to get started is to give me a phone call or write me an email describing what your dream property is and all the particulars that you think are important. There is no charge to have me as your guide and real estate coach as the sellers, the bank, pays my commission, so it is a win – win.
While you are waiting for just the right property to come on the market, we go ahead and help you get pre-approved with a lender; unless you are planning to pay cash. If you are planning to pay cash; prepare to have a proof of funds, so that when the property presents itself you are ready. All foreclosure offers require that you submit the offer with proof of how you are going to pay for it. We have found that there is still a lot of money available for loans to buy property; you just have to be persistent and know who to ask. We help you with this. A cash offer does gives you a negotiating advantage.
After I receive your communication concerning your perfect property, I will
begin to send you specific foreclosures that meet your criteria. Properties are coming on the market, as illustrated here with the picture of a Great Smokies cabin. I will also watch for the ones that are up and coming, so that the moment they come on the market we are positioned to take advantage of something amazing. If you are in town, we will go out immediately and make an assessment. If you are out of town, I will go and photograph it for you, so we can decide whether it is worth your while to make a trip. If you are coming in for a visit, I will arrange a tour of your top picks.
Once we find our property, then we write the offer. We make the offer contingent upon you getting the financing that you want, and we make it contingent upon a professional inspection. This way you are not taking a risk losing your earnest money should the inspection of the property turn up something we are uncomfortable with. This gives you a safety net, ties the property up, so no one can offer a higher price while you are pursuing the details. It takes about 4-6 weeks to actually complete the purchase once the bank accepts your offer. Sometimes the bank will counter you and sometimes there will be multiple offers on the same property. This can be complicated, but that is why we are here. We use our experience to help you navigate and procure the property at the best price possible. It’s a great adventure and we just love it!
Basically that is an overview. Hope all this has been helpful. Look forward to hearing from you.
Deborah & Mike Korlin,
Principal Broker/Owners of
Century 21 MVP
865-765-6157 Deborah’s cell
865-286-1862 Assistant, Rasa Karvelyte
P.S. If you are in our area we show foreclosures on our big screen in our training conference room every week on Sat. at 10:30. Call me and I can give you more details. I will send you a list of foreclosures in a moment…