Realty Trac is a Pain for many buyers.
Realty Trac is a website that tracks properties headed to foreclosure through the legal notices filed in the local paper.
Many buyers searching for homes online call me about the homes they see listed on Realty Trac. They are very excited about the bargains they find listed on Realty Trac. Unfortunately, many of the homes they find on Realty Trac have already sold. It seems that the info is not updated very often.
Other homes on the site are just headed to the foreclosure auction at the courthouse. Unless a buyer has cash available, and is very savvy, buying at the courthouse auction has its own set of problems. A large cash deposit is required if you win the courthouse auction, closing is required in less than 30 days, all problems, liens, etc, attached to the home come with the home, there is no opportunity for a complete inspection, and if the home is a good deal, then other bidders will probably be there bidding against you.
If you are a homebuyer, looking for a good foreclosure deal, find a buyers agent who agrees to find bargains for you. Make sure your financing is in order, and be ready to act quickly when your agent finds the bargain. Good deals go under contract fast.
Realty Trac can be a pain for homebuyers looking online, but a good buyers agent can be your key to a foreclosure bargain.
If I can be of service in West GA or East AL, give me a call.
Karen Steed, Haralson Realty 678-521-3585 or 770-574-9221 (office)