If you are looking for a home in Cobb County, GA then short sales and foreclosures are typically what offer buyers the best home for their money. So when looking for homes in Cobb County, it is important to understand the differences between homes listed as a short sale and a foreclosure. Many buyers want to know what the advantage and disadvantage is to each and what should they pursue. The answer lays specifically with each buyer circumstances but I explain the differences between Cobb County short sales and foreclosures.You can then decide 
which type of home is best fit for you. Let's start with short sales.
Short sales are when the seller has fallen behind on payments, upside down in their home and want to sell. This process involves the lender reviewing several factors and approving a reduced payoff on the underlying mortgage balance. Short sales can present buyers with an excellent opportunity to buy at a discount. The drawback is the process can take months sometimes, so if you are not willing to wait 3-6 months for a closing- don't pursue a short sale home. Now, if the home is listed as short sale pre-approved, that means the lender has already approved a price to sell the home at but this could still mean you'll be waiting 45+ days until closing.
Another benefit to Cobb County homes listed as short sales are the homes are usually in good condition because they are occupied or vacant for very little time. This is the opposite for foreclosures which could be sitting unoccupied for 6+ months and sold with no seller disclosure. When most people think of buying a well-priced home, they think of buying a foreclosure. I will admit that foreclosures offer buyers in Cobb County a great opportunity to buy below market. The disadvantages to foreclosures are they are sold as-is and have usually been vacant for several months. This can leave many buyers uncertain of the problems that may be looming.
The fortunate thing though is that this can all be solved with a simple inspection to protect yourself. The few hundred dollars you spend on an inspection can pay dividends in the long run. So as a buyer looking for Cobb County short sales and foreclosures, you now know what short sales and foreclosures offer. If you live in Cobb County or thinking of moving to Cobb County, I'd be happy to assist you in your home search. Buying a home should be a fun and exciting process, so utilizing a buyer’s agent to help negotiate and find you the best deal is highly recommended. Please give me a call directly at 770-688-5448 or contact me through the link below.
Eric Wanck is a short sale investor/real estate agent located in Atlanta, GA. He works with Nextage Peachtree Realty and specializes in helping buyers find their perfect home. You can reach him at 770-688-5448 or contact him at http://activerain.com/atlshortsalepro/contact.
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