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Saving Money with Foreclosed Property

Purchasing distressed property (a home or property that has been foreclosed, a property that is at short sale, or REO property) is a great way to save money on the purchase of your next home--or even your next money-making investment cabin. We've been working with foreclosures for a very long time, and we're more than happy to help you find the best home for your dollars.

What Are Foreclosures, Short Sales, and REO Properties?

  • Foreclosed property:  Foreclosed property is property that is at public auction because payments have not been met, and the lender has exercised the right to possess the property.
  • Short sale property: Short sale property is property that is in foreclosure but before the property goes to public auction.  Under a short sale, a lender may agree to accept less than the amount that is owed on the property.
  • Real Estate Owned (REO) property: In the real estate industry, this term means that the mortgage company or lender owns the property.  Purchasing an REO property is similar to buying a short sale property, except the property is already owned by the lender.

Search for Lots, Land, Acreage in and near the Great Smoky Mountains

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Foreclosed Homes and Cabins in and near the Great Smoky Mountain

502 Old Dandridge Pike, Strawberry Plains image
502 Old Dandridge Pike, Strawberry Plains $410,000 ▼

Beautiful Home, Recently renovated and ready to move in condition. Offers wrap around porch with beautiful steps in front of the house. new LVP, carpet, roof, HVAC, Gran...

  • 3 Beds
  • 2 Baths
  • 2,434 SqFt.
  • 1240692 MLS
  • ACTIVE Status

Equal Housing Opportunity. All information contained herein deemed reliable but not guaranteed. Buyers should personally verify all information. All content Copyright 1998-2023 Great Smoky Mountains Association of Realtors. All rights reserved. Last updated .

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209 East Main Street Sevierville, Tennessee 37862

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 CENTURY 21® and the CENTURY 21 Logo are registered service marks owned by Century 21 Real Estate LLC. CENTURY 21 MVP fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Any services or products provided by independently owned and operated franchisees are not provided by, affiliated with or related to Century 21 Real Estate LLC nor any of its affiliated companies

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