Thank you for visiting Sevierville Foreclosures. My name is Kenny Gays; I am a foreclosure property specialist. REO bank owned Real Estate in Sevierville (Sevier County) is my primary business. You can be sure that I will do everything I can to find the right Sevierville Foreclosure property for you. I am a Real Estate Broker and I am a S.F.R. certified REALTOR helping buyers of foreclosure property in there search for great deals on foreclosures and short sales in Sevierville, Gatlinburg and Pigeon Forge Tennessee. Click the link for a Free Foreclosure List of Sevierville bank foreclosures with updates.
Every Sevierville foreclosure is different. Even two of the same cabins next door to each other can be priced completely different. Some of the factors in pricing are when was the home or cabin purchased, what was the down payment, are there any issues with the cabin, is there a second mortgage on the property, which bank has it and what is there strategy to liquidate there foreclosed properties? As you can see the price is affected in many ways.
You can see two of the same cabins come out for sale in the same resort, one will come out for $189K and the cabin next door from a different bank comes out for $149K. I know it looks like the bank should take $149K for there property that is listed for $189K but they won't, not until it has been on the market for some time and there are no offers and they have lowered the price 4 times. The bank may have 40k more in the mortgage into the property they own and need to try to recover it.