Some important information regarding foreclosures: the good ones go fast!
Richard Weisser posted the excellent blog on purchasing foreclosures and the importance of being ready to make a strong offer when "a good one" comes on the market. This includes researching the market ahead of time and working with a real estate agent experienced in foreclosure sales.
Thank you for sharing Richard.
Seventy-fiver percent or more of the calls I field each week are from buyers seeking a great deal on a foreclosed property.
And don’t get me wrong … there are plenty of them out there. The Coweta County Georgia area gets more than its share of bank-owned houses. And many of these REO properties languish on the market for a long time due to a variety of salability issues.
However, the houses that are in good condition that are priced aggressively move VERY quickly. The majority of buyers are seeking the move-in ready foreclosure in the best location.
So it is extremely important to have financing already in place and to be prepared to move quickly. There better-than-usual foreclosures can generate multiple offers the FIRST day that they’re on the market, so a buyer must be alert, diligent, and totally prepared to take the plunge and write an offer.
If there are multiple offers, the institutional owner may choose to deal with the best one. Never assume that the owner will call for “highest and best,” so make certain that your initial offer is the most that you are willing to pay
A real estate agent that is experienced in foreclosure sales can be very helpful and can provide guidance and advice based on experience, and that can lead to a successful transaction!
There are plenty of foreclosures on the market, but only a few of them are “keepers!”
So it is essential to be correctly poised and ready to take the leap!
All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate Better Homes and Gardens Metro Brokers, Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser REOS, E-Pro. licensed Auctioneer. 770-827-6225.
Learn more about Coweta County and Fayette County Georgia Real Estate, and to search the entire Georgia MLS for free with no registration required visit CowetaFayetteRealEstate.com! Photos of the Great Smoky Mountains National Park.Get the latest GA Foreclosure List Updated Daily! We Do HUD bids in Georgia! 770-827-6225
Comments (1)Subscribe to CommentsComment