Your Home with Joan
Joan Clark 11400 Parkside Drive
Suite 120
Knoxville, TN 37934
Phone: 865-966-5005 Mobile: 865-776-6805 Fax: 865-223-5513

Foreclosures


For the right buyer, foreclosures are an excellent opportunity to buy a house at a lower than market-value price. Buyers can shave anywhere between 10% and 30% off the market value of a house, but you may have to put in a bit of "sweat equity," as these homes can come in need of repair. Right now, you can actually buy a solid home for less than tax value.

Needless to say, buying foreclosure properties is more complicated — and entails more risk — than going the regular home-buying route.  Work with an agent experienced in foreclosures to help avoid making and unwise or costly choice.  An experienced agent can help you navigate bank forms and secure the best price possible.

I have many years experience working in the foreclosure market and would be glad to be of assistance if you are considering purchasing a foreclosure.


How to Not Pay Too Much for Your Home


Whether you are buying your first home, or your fifth, the process of buying a home is a detailed, time-consuming venture. At the same time, it’s an emotional period laden with difficult choices. You want to ensure that the home you purchase meets your family’s needs now, and in the future.

AgentShow01.jpgEach of these decisions often involves money. When you consider all that money represents, you’ll want to ensure that you don’t pay too much. This article helps you become a savvy buyer, by pointing out some of the pitfalls inherent in the home-buying process. These include such things as knowing what you want before you begin shopping, taking your time to shop, choosing the right realtor, and remaining objective while viewing potential homes. With this information, you’ll be closer to finding your ideal home.

1. Before you shop, develop a needs vs. wants list
Everyone has a picture of an ideal home. This would include all the features you not only need, but have long desired. However, when it comes time to buying a home, the desires cost more. While it’s nice to think about having a beautifully landscaped backyard, or a solarium, perhaps even some built-in appliances, these are usually considered luxury items, which can add considerably to the price of your home.

That’s why it’s a good idea to develop a needs and wants lists. With this list, begin with items you really need like adequate space, garage and number of bedrooms. For most people, basic needs should be considered first. After that, you could consider additional desires, if you can manage these benefits financially.

With such a list in your hands, you’re less likely to be caught up in the excitement of the pursuit. You’ll have a good idea of what you want, within you price range, and if you can afford those additional items.

2, Get pre-approved prior to shopping
Visit your financial or lending institution prior to home buying. Quickly, you’ll know the amount of mortgage you’ll receive. Be sure to get a mortgage commitment in writing. Most importantly, you’ll tell sellers that you are a serious prospect. Depending upon market conditions, a seller may lean towards an unconditional offer. You’ll have less negotiating power if you have to wait for mortgage approval.

Banks and financial institutions have developed many programs especially for home buyers, be that first-time buyers or those with equity in their homes. When you review your needs and objectives with a lending officer, you’ll be one step closer to purchasing your home.

These are just 2 of the things to keep in mind when purchasing a home. Instantly have 20 additional tips to be aware of emailed to you:

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This article helps you become a savvy buyer, by pointing out some of the pitfalls inherent in the home-buying process.
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