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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 Avoid out of date infomercials on TV. 6.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: Mapped: Global Real Estate Bubble Risk in 2025 Visual Capitalist Hamptons $115 million home sale smashes real estate records — billionaire behind the secret deal revealed New York Post Taiwan’s real estate problem The Economist Ford government to take control of Ontario’s real estate regulator Monday, assumes all powers of board Toronto Star Real estate news: Vanguard University selling off-campus housing site Orange County Register Local real estate broker analyzes how a proposed 50-year mortgage plan would impact in the mountains WYMT Real Estate Partners Dollar Tree 8z Real Estate Annual Deck the Door Contest Ark Valley Voice Sold in Sonoma for week of Nov. 17 Sonoma Index-Tribune Check out these Muskingum County real estate transfers Zanesville Times Recorder Needham Advances Two Major Housing Projects Under New MBTA Zoning Law Boston Real Estate Times Check out the New England Real Estate Journal's 2025 Ones to Watch Industry Leaders Spotlight! NEREJ Benutech debuts lead gen tool; Zillow helps renters build credit RealEstateNews.com Real Estate Transactions: Friday, November 28, 2025 Boulder Daily Camera ARE Investors Have Opportunity to Lead Alexandria Real Estate Equities, Inc. Securities Fraud Lawsuit PR Newswire Mexican nationals arrested in real estate fraud scheme targeting San Diego properties fox5sandiego.com Welcome to Real Estate Friday! The Berkshire Edge Richland County property transfers Nov. 17-21 Mansfield News Journal Berkshire region real estate sales – November 28, 2025 The Berkshire Edge Lower mortgage rates lift U.S. home sales in October IslanderNews.com See photos of French-style Palm Beach house listed at $26.5 million on Wells Road Palm Beach Daily News The Greek real estate market continues to show resilience and steady growth - World Business Outlook The Greek real estate market continues to show resilience and steady growth World Business Outlook Real estate sales in Jefferson, Bullitt and Oldham counties for May 12-18, 2025 The Courier-Journal Licking County real estate transfers for Nov. 10-14, 2025, reach $3 million The Newark Advocate LV Collective and Kayne Anderson Real Estate Acquire The Heights at College Station in Texas Yield PRO $2 Million Homes in São Paulo, Brazil The New York Times LOCAL REAL ESTATE TODAY 11.28.25 KQEN News Radio Real Estate Lowenstein Sandler LLP My Chemical Romance add Sunny Day Real Estate, Echo & the Bunnymen, Interpol & more to UK/EU shows BrooklynVegan Insights from new CEOs: Kim Follett, CBRE The Business Journals Stark industrial property sales top $1M | Property transfers Canton Repository NYC renters with pets get slapped with over $800 in mandatory fees — but this neighboring city pays even more New York Post Hits and Misses for the Real Estate Week of Nov. 24-28 Weekly Real Estate News Trump’s Childhood Home Is on the Market for $2.3 Million The New York Times The New Architecture of Real Estate: How AI Is Redefining Value Mexico Business News $42M real estate commissions class action settlement Class Action Lawsuits Real Estate Transfers Rocky Mount Telegram WATCH: Space Coast Real Estate Market Report Shows Strong Buyer Momentum, Rising Cash Sales Space Coast Daily Morguard Real Estate Investment Trust Declares December 2025 Distribution Of 2 Cents Per Unit TradingView Updated Bath home near Ken Stewart's Lodge sells for $1M. See inside Akron Beacon Journal Interest Rate Predictions for 2026 by Goldman Sachs: Intriguing Insights Norada Real Estate Investments Real estate developer Genevieve Hanson to acquire construction company The Business Journals Manitowoc County property sells for $885K in real estate transfers Herald Times Reporter Top Real Estate Investment Hotspots in 2025 Norada Real Estate Investments How Real Estate Expert Andrea Vukovich Peters of Littleton Explains What Realtors Do After the Sale Ends for HelloNation The Manila Times Marin house prices remain nearly level in latest data Marin Independent Journal Sarasota Condo Project Advances, SRQ Airport Hotel Stalled Sarasota Herald-Tribune Developer buys prime lot zoned for 40 stories in downtown Raleigh. What’s next? Raleigh News & Observer CTP N : announces entering the Italian real estate market facilitiesmanagement-now.com Real Estate’s Last Black Box Is About to Break Open observer.com Honolulu attorney sees sea-level rise and tariffs reshaping real estate deals The Business Journals How Midway Rising plans to breach 30-foot height limit San Diego Union-Tribune MIMA Living: A New Era for Lisbon’s Tourism and Real Estate Sectors, Get the Details Here Travel And Tour World Today's Mortgage Rates, Nov 28: 30-Year FRM Drops to 6% as Lenders Roll Out Lowest Offers Norada Real Estate Investments Real estate transfers in Pike County from Oct. 16-31, 2025 Muddy River News Ray Dalio Just Called Real Estate The 'Easiest Asset to Tax'—And Says It's A Terrible Hedge Against Currency Devaluation Yahoo Finance Bahrain lowers minimum real estate investment for Golden Residency to USD 345,000 Travel Daily News International 30-Year Fixed Mortgage Rate Hits Multi-Month Lows, Offering a ‘Buy Now’ Incentive Norada Real Estate Investments |
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