Buying Foreclosed Homes in Arkansas

As the number of foreclosed homes in Arkansas increases, you may feel drawn to jump into real estate as part of your investment strategy. Make sure you educate yourself about the foreclosure process, understand the real estate market and be patient about finding good deals.

What is a Good Deal?

In real estate, money is made when you buy. You can consider it a good deal if you can get the property for 80% of market value minus the cost of repairs.

For example, let’s say you find a listing for $100,000 and you and your agent agree this is a fair market value for the house in pristine condition, and your contractor estimates the repairs at $10,000. Now for the math — 80% of $100,000 is $80,000, minus the repairs of $10,000 comes out to $70,000. There’s your offer, you always have room to negotiate, but you want to strive not to get overzealous and lose out on your profit.

Another option is to buy a property from the owners before the foreclosure actually happens. The owners have the right to sell at any point before the actual auction and they are highly motivated, meaning you can get a great deal and help them prevent a foreclosure.

Real estate investments can be profitable, but success requires a lot of education and preparation. If you’re ready to find some foreclosed homes in Arkansas, connect with us here at Blue Rose Property Solutions and we will guide you through the process and work hard on your behalf to find you exactly what you’re looking for!