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Real Estate Information |
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18 Easy Steps to Buy a Bargain House
What is a "distressed" property? What is "bargain" real estate? A distressed property is one with a distressed seller. Job loss or transfer, divorce, death, pending foreclosure, and lack of money cause sellers to sell fast for less. Discovering the seller's problem and finding a solution is the key to buying a bargain property. A distressed property may also be a "doghouse," a dump, or a fixer. Owners of "doghouses" are not always distressed sellers. 18 Easy Steps to Buy a Bargain House 1. Get good advice from successful investors. Ask friends and real estate agents for referrals to investors. 2. Create your personal "Investment Journal," like Doghouse to Dollars Workbook: Turn Yucks into Bucks Investor's Guide. 3. Define investment goals: Do you want to buy a home to live in, to fix and sell, or to hold for your future? 4. Get credit reports & scores. Create a file for each credit reporting agency. Take care of any credit issues. 5. Read Real Estate investing books and articles. Attend workshops and seminars. Avoid out of date infomercials on TV. 6. Get good advice from lenders. Choose a lender with great service, good closing record, and fair costs. Arrange financing. 7. Define your target locations: Is your desired property near home or job, vacation or second home? 8. Learn your target market. Study real estate newspaper sections. Pick up homes for sale flyers. Watch sales and note prices, amenities, and conditions. Follow HUD sales in your area. 9. Interview Real Estate agents and learn from them. Do not sign any agreements with agents limiting your search for bargain property. (These contracts make you pay the agent a commission even if you purchase by owner.) 10. Use agents who know local market customs and guarantee to make many offers for you. 11. Find a good escrow officer for buying "for sale by owners." 12. Study home remodeling, design magazines and books. Learn the costs of materials, supplies, and trades. Visit home improvement warehouses. Note costs of building materials. 13. Be ready to know a bargain property when you see it. 14. Make many offers. Bid on HUD repos. 15. Buy only bargain property. Get great terms or concessions from seller. 16. Plan house transformation during escrow. This speeds your work time -- saving you money in holding expenses. 17. Monitor real estate escrow closing. Do not jeopardize your financing by charging up credit cards or making unnecessary purchases. 18. Celebrate buying your "doghouse" with an open house! (c) Copyright 2004, Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
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Now it's backfiring. Business Insider Real Estate Newsletter Articles this Week: Calculated Risk McColly Real Estate Holiday Open House 2025 GreatNews.Life Agent Spotlight: Renee Morrison The Grand Junction Daily Sentinel Bank Regulations and Commercial Real Estate | US Cushman & Wakefield Alexandria Real Estate dividend cut spooks investors, but these other REITs are likely safe Seeking Alpha Alexandria Real Estate Equities (ARE) Is Down 15.3% After Sharp Dividend Cut And Impairment Charge - What's Changed simplywall.st Before the ball drops: Key real estate strategies for 2026 Whittier Daily News What will ‘never go away’ as AI spreads through real estate RealEstateNews.com Commercial Real Estate Is Getting Too Cheap to Ignore The Wall Street Journal GTA Online: A Safehouse in the Hills Coming December 10 Rockstar Games Dodge County Real Estate Transfers Fremont Tribune Markets Cool In November: Real Estate Takes The Lead Seeking Alpha Alexandria Real Estate Equities: It's Not The Dividend Cut, It's The Debt Load (ARE) - Seeking Alpha Westmoreland County Real Estate Transfers The Latrobe Bulletin Should sellers stay home during showings? 'Absolutely not,' agents say Detroit Free Press News | Bellevue-based Sterling Realty hires real estate executive to fill new leadership role CoStar Well-Earned Mean-Reversion Continues In Real Estate Seeking Alpha Weather risk data taken off popular real-estate website Dakota News Now Washington real estate agent to appear on HGTV’s House Hunters Observer-Reporter Housing Market Predictions for 2026: Affordability, Prices, and Demand Norada Real Estate Investments Real Estate Lowenstein Sandler LLP Top Real Estate Agents in Michigan for 2025 gritdaily.com Today’s Mortgage Rates, December 6: 30-Year Fixed Rate Rises to 6.10% Norada Real Estate Investments Real estate agent showing a property finds skeletal remains, sheriff says - San Antonio Express-News Real estate agent showing a property finds skeletal remains, sheriff says San Antonio Express-News Northwest property features workshop, RV parking and mountain vistas The Grand Junction Daily Sentinel What's the most expensive property sold in Rhode Island? Dec. 5 real estate transactions. The Providence Journal Property Transfers Nov. 17-21 Westport Journal Maimonides Medical Center sells for $151.9 million. The Real Deal Investor Intentions: IPERS looks for new real estate managers in 2026 Private Equity Real Estate | PERE New condos face myriad lawsuits from leaks to fake wood wallpaper The Palm Beach Post Reality TV and real estate: Ryan Serhant is building an empire Greenville Online See how much homes prices held steady in Polk County recently Lakeland Ledger REAL ESTATE | Is Target eyeing West Bend, Wi… again? | Photo courtesy Greg Lofy Washington County Insider REAL ESTATE | Live overlooking the 18th hole: A rare opportunity at Scenic View Golf Course | By Emmer Real Estate Group Washington County Insider Joe Morris, big-box developer and giant of New Jersey commercial real estate, dies at age 81 - RE-NJ NYC effect: Fairfield County could join hottest housing markets in US in 2026, experts say CT Insider Reassessing Empire State Realty Trust (ESRT) Valuation After $386 Million Scholastic Building Acquisition in SoHo simplywall.st |
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