Clients have said this over and over. "I only want to see foreclosure properties." And of course, my response is "why?" Clients sometimes have pre-conceived notions that the only way they are going to get a great deal is by buying a foreclosure property. This is not exactly the truest of statements. REO properties can be a great deal if you are careful and get the right one, but it is important to not be short sighted and leave out the many other options available. 

With the overall depressed market we are in, priced of fair market homes are attractive as well. Many good "move in ready" homes in the area are priced very well. And what about the short sale properties. A large number of these have asking prices well below current market conditions with lenders that are ready to get them off their books. Yes, it is true that you need patience for these if the short sale price has not been approved with the lender. 

Getting back to the REO properties, not all are deals. You have to do your homework and get a qualified inspector to check it out for any hidden surprises. So, with that being said, don't immediate narrow down your home search too much as you may find what you are looking for where you least expect it. For more information on Roswell, Marietta or Woodstock homes for sale, contact Phil Karp, The Karp Team at Peachtree Realty Group at 404-419-6244 x 101.

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David Karp

The Karp Team

Peachtree Realty Group, LLC

Woodstock, GA

404-419-6244 x100

www.peachtreerealtygroup.com

 

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Disclaimer: All information in this blog is deemed to be reliable but it is subject to change at any time and is not guaranteed to be accurate nor are there any warrantees either expressed or implied. This blog is not intended to offer any legal, tax or other advice.

 

1 Comments on "I Only Want To Buy A Foreclosure"

JAN
23
2012
405,899 Points 6 Featured Posts Localism Sponsor Outside Blog

I have had clients tell me the same thing. Foreclosures are perceived to be a great value & so cheap! Then they see the foreclosed homes and discover there is no Sellers Disclosure so they don't know anything about the homes history. When they walk into the home and find no appliances, carpet, light fixtures or hardware they are surprised. You have to factor in money to replace all of those things, now this home is not such a bargain AND its going to be a lot of work before its ready to be lived in. Plus Short Sales are generally anything but short time frames. It seems to take a month or two longer than a standard purchase.
10:26am • #1


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David Karp Woodstock, Marietta GA Real Estate

Woodstock, GA

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Peachtree Realty Group, LLC

Address: Marietta, Roswell, Woodstock, Canton, Alpharetta, Kennesaw, Acworth Homes For Sale

Office Phone: (404) 419-6244 x 100

Cell Phone: (404) 538-1639

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