Foreclosures & bank owned homes for sale in East Tennessee
Bank owned (REO), HUD and foreclosure homes on the market now, from an office that specializes in them. We list REO homes for lenders and help buyers through the as-is process from Knoxville to the Tri-Cities.
Bank owned, HUD & foreclosure listings now
Homes whose listing describes them as bank owned, REO, HUD or a foreclosure, newest first. Status and terms change quickly, so call to confirm before you go look.
Active1 day on market$220,000
13700 Lakeshore Drive
Rutledge, TN 37861
MLS# 713122 · Single Family Residence
Listing courtesy of Spring Mountain Realty, PLLC
Active6 days on market$39,900
337 Marble Hall Road
Rogersville, TN 37857
MLS# 713071 · Single Family Residence
Listing courtesy of Castle & Associates Real Estate
Active36 days on market$1,050
2816 Broad Street
Bristol, TN 37620
MLS# 9999337 · Residential Lease
Listing courtesy of Tony Boyd Associates
Active42 days on market$379,000
445 Bay Hill Drive
Piney Flats, TN 37686
MLS# 9999567 · Single Family Residence
Listing courtesy of KW Johnson City
Active66 days on market$555,000
Address withheld at seller's request
Sevierville, TN
MLS# 312356 · Cabin
Listing courtesy of Weichert, REALTORS - Tiger Rea
Active78 days on market$285,500
733 Blakley Drive
Kingsport, TN 37664
MLS# 9998025 · Single Family Residence
Listing courtesy of Park Hill Realty Group, LLC
Active101 days on market$199,900
3305 West Old Kentucky Road
Mosheim, TN 37818
MLS# 9994313 · Single Family Residence
Listing courtesy of New Nest Realty
How buying a bank owned home works
- Step 1
Get pre-approved
Banks want proof you can close. A lender letter or proof of funds goes with every offer.
- Step 2
Tour and inspect
Homes are sold as is. Plan an inspection, and know that utilities may need to be turned on first.
- Step 3
Offer on the bank's terms
The bank uses its own forms and deadlines, and HUD offers are placed online by a registered agent.
- Step 4
Close
Expect bank addenda and sometimes a slower reply. We keep the deal moving to the closing table.
Foreclosure questions buyers ask
What is an REO or bank owned home?
REO means real estate owned. It is a home a lender took back through foreclosure and now sells itself, usually through a local listing agent. The bank is the seller, so it sets its own offer forms, deadlines and rules.
How do I buy a HUD home in Tennessee?
HUD homes are listed on HUDHomestore.gov and offers are placed online by a HUD-registered agent on your behalf. Owner-occupant buyers usually get the first chance to bid before investors. Many HUD homes can be bought with FHA financing.
Are foreclosed homes sold as is?
Almost always. The bank or agency makes no repairs and gives few or no disclosures, so a home inspection matters more than usual. You can still inspect during your option period, and utilities may need to be turned on first.
Can I get a regular mortgage on a bank owned home?
Often, yes. Conventional, FHA, VA and USDA loans can all work if the home meets the loan's condition rules. Homes needing major repairs may call for a renovation loan or cash. Getting pre-approved first lets your offer move fast.
Are foreclosures always a bargain?
Not always. Many are priced close to market value, and repair costs can erase a discount. A local comparison of recent sales tells you whether the price is really a deal.
An REO listing broker covering all of East Tennessee
Spring Mountain Realty PLLC handles REO and bank owned property from first inspection to closing, across every East Tennessee county, including rural and hard-to-reach properties.
BPOs & valuations
Broker price opinions and market reports built from local closed sales.
Property care
Occupancy checks, rekeys, photos, and coordination with your preservation vendors.
Marketing & closing
Listed across the local MLS feeds and our site, with steady status updates until the deed records.
Homes for sale by town
Equal Housing Opportunity & Fair Housing Notice
Spring Mountain Realty PLLC complies with the federal Fair Housing Act and the Tennessee Human Rights Act. The guidance on this page is general information, not legal, tax or lending advice. Bank owned and HUD homes are generally sold as is; terms, availability and financing eligibility are set by each seller and lender and should be confirmed before you make an offer.
Listing data courtesy of Great Smoky Mountains Association of REALTORS®, Lakeway Area Association of REALTORS®, and Tennessee/Virginia Regional MLS
Listing content is provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Spring Mountain Realty PLLC. All measurements, acreage, room counts, and permitted uses are approximate and should be independently verified by the buyer.
Properties marketed by brokerages other than Spring Mountain Realty PLLC are identified with the listing office name. Listings that a seller has excluded from internet display are not shown, and addresses are withheld where the seller has requested it.
Spring Mountain Realty PLLC is an Equal Housing Opportunity brokerage. We do not provide guidance on schools, demographics, or the composition of any area. Buyers are encouraged to research those subjects using independent public sources.