Buying foreclosure real estate in Atlanta or any other area is a unique process. You are best served by working with a seasoned foreclosure agent. Such an agent can be found at Century 21 Intown. These types of agents are experts at helping you get the best price from the financial institution or trustee who owns the foreclosed property, and are familiar with the documentation and requirements that are associated with purchasing a foreclosure. Below I have provided the basic steps in locating, evaluating and bidding on foreclosed homes and properties. Please contact me if you have any questions.
Step 1
Finding foreclosure properties.
Court House Sales:
You can also buy properties on the first Tuesday of each month on the court house steps. These properties are advertised the month prior to the sale in the local news paper. You might get a great deal, but there are many pit falls with these sales that you should be aware of. First, these sales require cash in hand. A person purchasing one of these properties is not granted any inspection period, or even the right to view the home inside, because many times the home is occupied by mortgagee until the sale is consummated (at which point you will need to perform your own eviction). Without a chance to inspect the property you don't know the full condition of what you are buying. You will be bidding against seasoned investors, not to mention the lending institution generally has a reserve price that is not lower than the outstanding debt, arrears and foreclosure costs.
Auctions:
You can often get the jump on the auction by putting your bid in prior to the auction. Contact me for more information on the action process.
FHA and HUD Homes:
I can provide you with a list of these foreclosure properties. I am a certified HUD specialist who can help you with your HUD purchase. Please contact me for more details about buying HUD homes.
Finding foreclosure properties can be as easy as using the search here on this dedicated foreclosure listing website.
Step 2:
Pick up the phone and call me so we can prepare you a list of suitable properties that match your search criteria and then take you out to view the inside of the properties.
Step 3:
I can assist you in finding the right mortgage company that specializes in foreclosed home financing.
Step 4:
when selection is down to the short list I will assist you with a market analysis of each property enabling you see what other similar properties have sold for so that you will be knowledgeable about the value of the final selected property.
Step 5:
After you have selected the right property for you I will commence negotiations and get the property at a price and terms acceptable to you.
Step 6:
After the contract negotiations the Inspection contingency begins, (I can provide you with a list of qualified building inspectors) this is usually a 5 to 10 day period after the contract is accepted. This allows you to have the property inspected to determine its condition while allowing you to withdraw your offer if the property is not in a condition acceptable to you.
Step7:
I will accompany you to closing and walk you through the mountain of paperwork, handling the final touches to ensure a smooth finale to your home buying experience.
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Atlanta Homes For Sale
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