Four Places to Find Great Real Estate Deals in Nashville
So what is the problem?
This trend is making it difficult for homeowner and investors to find homes for sale that are priced to their expectations. Multiple offers, quick sales and improving prices have confounded buyers recently and the trend is not expected to dissipate as quickly as it surfaced. As we move into the summer, the busiest time for Real Estate in Nashville, the problem is expected to get worse.
How can a buyer get the best price on a home?
My first suggestion is to work with a great Realtor. Great Realtors are expert negotiators and can help you find great homes and get the best price. For the average home buyer, this is the most important step that you can take.
Warning! The following suggestions are for experienced investors or adventurous home owners only. Most of the homes you will find at the places listed below have a significant amount of repairs to complete prior to being “move-in ready.” These homes may also be limited to those who can pay cash or have a secure method to financing the purchase. The homes may also be occupied, and the new owner will be responsible for obtaining possession of the home after the sale.
Are you ready for this?
The following companies auction homes throughout the country with both online and on-site events. I have bought or sold homes with each of these companies and approve of the way they conduct business. Each one is a little different, so it pays to carefully read the disclosures for each home that is listed for sale.
Four Sites to Find Bargain Homes in Nashville
1. Auction.com – Auction.com claims to be the nation’s leading online real estate marketplace with over $20 billion in sales since 2008. They sold more than 25,000 properties in the United States and Germany in 2012. Property types sold include single family homes, condos, multi-family, land and commercial. Currently, there are more than 130 homes for sale in Tennessee. Auction.com holds both onsite and online auctions.
2. HudsonandMarshall.com – Hudson and Marshall claims to be the nation’s leading real estate auction firm for foreclosure and bank-owned homes. They conduct more than 400 auctions per year and have sold more than 80,000 homes in the last 13 years. Hudson and Marshall has both online only and on-site auctions. The next auction in Nashville is scheduled for June 25th at the Airport Holiday Inn Express.
3. HudHomestore.com – HUD Home Store is the official site for purchasing homes owned by HUD, US Department of Housing and Urban Development. When an FHA home is foreclosed, many times it is sold on this site. With a huge increase in FHA financing over the past few years, many of the future foreclosures will be sold by HUD. Most HUD homes cannot be purchased by investors until homeowners have had the first opportunity to purchase. HUD also offers the Good Neighbor program which provides opportunities for law enforcement officers, firefighters, emergency medical technicians and teachers to purchase homes at a 50% discount off the list price of eligible properties. If you fit into one of these categories and want to live in a neighborhood that is revitalizing, this is a great opportunity for you to save significantly.
4. WilliamsAuction.com – Williams Auction sets themselves apart from the others by using a strategy that includes a simultaneous live, online and studio based auction. Williams sells more than $2 billion in real estate assets each year across the United States. Williams Auction recently won the National Auctioneers Association/USA Today Marketing Competition Award for 2013 and had the wining Auction Marketing Campaign of the year.
It is best to set up alerts or check back often with each of these sites as new homes are available daily.
With each of the homes listed for sale on these auction sites, you need to be extremely careful about your purchase. In addition to your Realtor, you may also need to contact your loan officer and real estate attorney before you bid. Prepare well, put together a good team and you can succeed at finding a bargain in Nashville.
What would stop you from buying a home at auction?