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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 Avoid out of date infomercials on TV. 6.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
MORE RESOURCES: Real estate transactions — April 10-16 SteamboatToday.com Real estate is facing the worst fair housing crisis since the ‘60s Real Estate News by RealEstateNews.com Norwalk's 2024 grand list drops to $16.2B, led by $1.3B decline in real estate values - Norwalk Hour Real Estate Transfers ~ April 3, 2025 The Bedford Citizen Trump Official Scrutinizes N.Y.’s Attorney General Over Real Estate The New York Times Prince Harry and Meghan Markle Have Made Some WILD Real Estate Moves in the Past 8 Years House Beautiful Real Estate Investing: 5 Ways to Get Started NerdWallet Former executive sues Pat Connaughton's real estate company Milwaukee Journal Sentinel Real Estate Market Report (Feb./March) highlandscurrent.org Agent Spotlight: Jim Smyth The Grand Junction Daily Sentinel The Michael Houck Real Estate Guide for April 20 Oil City News How the Pandemic Changed New York City Real Estate Behind The Hedges Beyond the Boardroom: LIVE Real Estate Group's Dionne Clifton The News-Gazette Real estate options slim for Grove City dispensaries The Columbus Dispatch Mandatory NAR membership facing a new legal challenge Real Estate News by RealEstateNews.com Brokerage Beat: News from Compass, eXp, The Agency, more Real Estate News by RealEstateNews.com Real estate sales in Peoria, Tazewell and Woodford counties for April 19, 2025 - Peoria Journal Star Real estate sales in Peoria, Tazewell and Woodford counties for April 19, 2025 Peoria Journal Star Many first-time homebuyers are pushing 40 as millennials wait in vain for a better market - NBC News Sandwich house on market in 'awesome location' for $680,000 Cape Cod Times Zillow just started an all-out war over real estate listings Business Insider Houston real estate lawsuit: Harris County suing couple in forgery case and theft of 35 properties ABC13 Houston Housing Market Crash Alert? Zillow Turns Negative on Home Prices Norada Real Estate Investments The Hollywood Reporter Celebrates the Big Apple’s Top Real Estate Agents at New York Power Broker Awards The Hollywood Reporter Accused Houston real estate fraudster connected to dozens of stolen properties caught attempting new deed filing Click2Houston Portland homebuyers rush into combative spring market OregonLive.com Who’s Buying What in the Big Apple? Ask NYC’s Top Realtors The Hollywood Reporter Dodge County Real Estate Transfers Fremont Tribune Page C13 Post and Courier Mumbai’s Rush to Rebuild Comes With a Warning Bloomberg.com Real estate Sales include business buildings in Westfield, Jamestown observertoday.com Historic flooding locally impacts commercial real estate market The News-Enterprise Phoenix land on Camelback Mountain with Frank Lloyd Wright-inspired home for sale for $30M The Arizona Republic Trump’s latest crypto venture will be a video game, and sources say it will be like Monopoly Fortune House of Week: With its indoor heated pool, this Marcellus property is ‘like a vacation’ Syracuse.com Q1 Estin Report for Aspen Snowmass real estate shows growth AspenTimes.com Westmoreland County Real Estate Transfers The Latrobe Bulletin News | Real estate pros look for signs of federal offices heading to suburbs under new directive CoStar Battle Of The Listing Sites. Zillow Bans Pocket Listings, While Homes.com Welcomes Them Yahoo Finance Main Line home with 3 golf holes on former Penshurt Estate asks $2.3M The Business Journals People on the Move at NAR, Christie’s, Realfinity and more Real Estate News by RealEstateNews.com The Mountain city where thousands are selling their million-dollar homes amid 'cloud of uncertainty' Daily Mail $20M Coldwell Banker real estate calls class action settlement Class Action Lawsuits Real Estate Notes: Rutledge Hill hotel to open July 1 Nashville Post Berkshire County Real Estate Transactions for March 31-April 4 The Berkshire Eagle Check out the number of homes sold, listed for sale in March across Flower Mound, Highland Village, Argyle Community Impact | News MLS that quit enforcing Clear Cooperation gets back on board Real Estate News by RealEstateNews.com Post-hurricane real estate market hard to pin down Your Observer Stafford County supervisors vote to increase real-estate tax rate by 3 cents Fredericksburg Free Press Imran Chaudhary, leading the real estate project in East Plano, says his planned Islamic Center is misrepresented by politicians IslanderNews.com How Eliminating Property Taxes Could Impact Florida Homeowners U.S. News Real Estate Kohl’s real estate head joins CBRE’s retail group Chain Store Age CoStar CEO takes on Zillow in letter to agents Real Estate News by RealEstateNews.com Real estate news: 2-tower office campus in Newport Beach sells at a loss for $33M Orange County Register Housing Market Predictions for 2025 Ramsey Solutions Real Estate Transactions for April 19-20 nashuatelegraph.com Penn owns over $3 billion in University City real estate, DP analysis finds The Daily Pennsylvanian Mr. Zuckerberg Goes to Washington and Buys a Mansion The New York Times $2.1 Million Homes in Muskoka, Ontario The New York Times Real Estate 101: A Tenant Landlord Relationship The Rome News-Tribune News of public record: Muskingum County real estate transfers Zanesville Times Recorder |
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