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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

    Click this link to display all listings of land.

    Don't see what you're looking for? Give us a call and we can help you find it!

     

    Foreclosed Homes and Cabins in and near the Great Smoky Mountain

    4070 Barb Hollow Rd, Walland image
    4070 Barb Hollow Rd, Walland $320,000

    This country home is waiting for you! Circle driveway, out building, extra parking and deck are just a few perks that this home has. Come make it your own. Welcome Hom...

    • 3 Beds
    • 2 Baths
    • 1,248 SqFt.
    • 1211219 MLS
    • ACTIVE Status
    2260 Mentor Rd, Louisville image
    2260 Mentor Rd, Louisville $1

    The list price is not indicative of seller's final reserve amount. This property is part of an online bidding event; please visit Auction.com to place bids. Inspections o...

    • 2 Beds
    • 1 Baths
    • 675 SqFt.
    • 1214007 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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