Tennessee foreclosures represent opportunity to investors who can capitalize on a good property deal and take it to the next level—a profitable level. Foreclosed properties in Tennessee can be found by searching through a number of property databases available online.

In foreclosure listings, Tennessee ranks 13th in the nation for those with the highest foreclosure rates, providing plenty of opportunity for those who wish to invest in real estate. On average, an investor can purchase foreclosure properties in Tennessee for about 20% or more below market value.

The foreclosure process includes 3 different stages and can be handled both non-judicially and judicially:

1. Pre-foreclosure: The homeowner has a set period of time to pay the delinquent amount. If not paid on time, the court will then order the Tennessee foreclosure properties to be sold.

2. Auction: Notice of sale for TN foreclosure properties must be published according to law and the homeowner must be informed 20 days prior. The sheriff sets a minimum acceptable price which must be equal to or greater than 50% of fair market value.

3. Bank-owned Tennessee foreclosure property: The lender takes possession and the sale is handled through an agent or broker.

Action Steps
The best contacts and resources to help you get it done

Search Tennessee foreclosure listings

Knowing where to look is the first step in researching potential foreclosure property to invest in. A number of websites provide basic listings of available properties.

I recommend: Foreclosure Listings Corp. updates Tennessee foreclosure properties daily. Search for Housing and Urban Develpment (HUD) foreclosed homes in Tennessee. Gain access for only $1 for detailed listings of properties. You must be qualified to purchased HUD homes.

Study the Tennessee real estate foreclosures process

If you're new to real estate investment and foreclosures in particular it may be best to learn more about the process before jumping in head first. Many materials exist to help you educate yourself.

I recommend: From e-books to worksheets and forms, The Real Estate Library offers a variety of informative resources. If a webinar or CD training course is more your style, Foreclosures.com offers many options.

Use online resources to make sense out of TN foreclosure listings

Employ all the tools available to help you evaluate foreclosure listings. Use those tools to your advantage as you weigh the pros and cons of purchasing a particular foreclosure property.

I recommend: Try the Home Value Analysis feature and other tools from RealtyTrac. Or use the variety of financial calculators available at ForeclosureData.com.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Although auctions offer excellent discounts, sales are frequently postponed and generally it is not possible to inspect the property beforehand. It may be wise to get a title search done even though it can be costly. Certified checks for 10% of the purchase amount may be required with the balance due in weeks, days or even hours after winning these Tennessee foreclosures.