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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 Avoid out of date infomercials on TV. 6.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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Announces the Release of Its Fourth Quarter and Year-End 2025 Financial and Operating Results ACCESS Newswire Mortgage Rates Hold Steady at 6%, Boosting Housing Affordability for Millions National Association of REALTORS® OHFA Provides Real Estate Professionals with Free Trainings - The Ohio Housing Finance Agency (OHFA) OHFA Provides Real Estate Professionals with Free Trainings The Ohio Housing Finance Agency (OHFA) 30 Under 35 | Ryan Graig The Wenatchee World Six Flags Entertainment sells St. Louis, six other theme parks to real estate investment trust Audacy On Time for Mom Time: Abilene mom juggles real estate career and motherhood duties BigCountryHomepage.com Locally owned Teleo Title now serving the Georgetown real estate industry Community Impact | News North Fork house of the week and real estate transfers: March 5, 2026 Riverhead News Review How agentic AI can reshape real estate’s operating model McKinsey & Company ADT Realty Announces Colorado Launch as National Real Estate Brokerage Expands to 26 States The National Law Review MUFG launches first own brand real estate security token for $142 million ledgerinsights.com Real estate developer Chip Norton sued by creditor claiming he owes $1M Worcester Telegram Where Does George Strait Live? 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