The TOP 5 Mistakes Buyers Make When Searching For Buckhead Foreclosures!!!!!!

Morris Brandon, Warren T. Jackson, Sarah Rawson Smith, Oh My! Just one of the many reasons why people flock to the very-well-know section of Atlanta known as Buckhead.

In a time of discount prices, distressed sellers and shorted mortgages, many are searching for their "deal of a lifetime" through acquiring a Buckhead Foreclosure or Buckhead Short Sale...As with any area in Atlanta, there ARE good deals in Buckhead, so let's clarify the most common mistakes people making when searching for a Buckhead Home.

MISTAKE 1: ONLY FOCUSING ON BUCKHEAD FORECLOSURES OR BUCKHEAD SHORT SALES.
While getting a deal from these parties is possible, you need to keep in mind there are many other VULTURES out there looking for properties labeled with the Scarlett "F." Because there is such a large pool looking in this area, banks sometimes receive up to 15 offers on those properties...

In addition, Buckhead Short Sales CAN be rewarding, but they come with their fare share of challenges.... Typical issues you will encounter are primarily time for acceptance and lack of firm pricing decisions.  Quite often, lenders can take 30 days or more to respond to an offer due to the approval process they must go through once an offer is received.  I've seen short sales in Atlanta take up to 6 months before there is a response. This lengthy and exhausting approval process can very frequently result in even "full price" offers being rejected.  Sellers and lenders are under no legal obligation to accept even a full price offer.  They can change their mind at any time and they often do.

MISTAKE 2: FORGETTING ABOUT MR. & MRS. SELLER
Oh yeah...the people that have probably lived there for a long time and bought their home before peak prices and probably have a little mortgage or may even own their home outright...Those guys, who actually HAVE the opportunity to decide what their home will sell for unlike the multitude of asset managers and bank officials...Don't forget about this market segment. I have made MANY great deals come together by going after the sellers that DON'T have an offer on the table and are wiling to play ball!

MISTAKE 3: NOT BEING PRE APPROVED
Yeah, yeah, yeah...HOW MANY TIMES HAVE YOU HEARD THIS?? We don't say this to bug you; we say this because your time is valuable. No need looking at things out of your budget or WORSE, finding out you can afford more than you thought. Furthermore, once you find that deal, ALL offers will require a letter of approval to accompany them. ESPECIALLY on bank-owned and short sales...Once you find that deal, you will need to move FAST...which brings me to my next point.

MISTAKE 4: NOT MOVING FAST AND "THINKING" ABOUT IT BEFORE ACTING ON IT...
Now, I know what you're going to say....and my response is simple DUE DILIGENCE. You have between 10-14 days to decide if you want to keep it or not without putting yourself in harms way whatsoever. SO, if that good deal pops up TIE IT UP FIRST and then think about it later...You'll thank me for it!!

MISTAKE 5: NOT HIRING A FREE BUYERS AGENT THAT SPECIALIZES IN GOOD DEALS TO HELP YOU WITH THE INS & OUTS....
All day, EVERYDAY, I'm on the lookout, scouting, towering, just like a VULTURE, waiting to go in for the kill. Do you REALLY think you'll find that GOOD DEAL before me?? I make it my job to know more about good deals in Buckhead than anyone, so make sure that you work with someone who is DEDICATED to capitalizing on today's market place...

Point in case...This STUNNING 1941 Buckhead Beauty that sits on over an acre of land on one of the FINEST streets in Buckhead came on the market...within 12 hours, my buyer and I had our offer in....there were four offers put in that day, but because I speak the banks language, and specialize in getting my clients good deals, our offer won! This home appraises at $1.4 million in its current condition (yes, it does need some work) and although I can't disclose what we paid, let's just say it was WELL under that price....

You do have choices when finding your Buckhead good deal:

• Do it yourself...how is THAT working out for you?
• Call on every sign you see in the yard....how is THAT working for you?
• Drive around endlessly hoping to find the one...how is THAT working for you??
• Hiring a FREE buyer's agent who specializes in good deals....have you let THAT work for you yet??

It doesn't cost you a thing to have a buyer represent you in the buying process, but it could end up saving you a FORTUNE!