Agent

Best ways to get a bargain fixer-upper

Sellers more likely to negotiate discounts in softening market
Published on Jul 27, 2006

Every community has an abundant supply of fixer-upper houses, and in this column we'll discuss the major sources of these profitable homes: 1. REAL ESTATE AGENTS AND THE LOCAL MULTIPLE LISTING SERVICE (MLS). The most obvious source of "fixers" is the local MLS and the local real estate agents who have houses listed for sale. Over the years, I probably bought at least 50 percent of my fix-up rental houses through this source. Of course, I didn't pay the full asking prices! Purchase Bob Bruss reports online. Fixer houses are the most difficult for realty agents to sell. If they have tenant occupants, they can become almost impossible to sell. Competition from other home buyers for these "fixers" is usually minimal because most prospective buyers want to buy a house in tip-top condition and they won't even consider purchasing a house needing immediate work. As we enter a "normal" home sales market, due to slowing rising mortgage interest rates, I think many motivated sellers of fix-up hou...

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