I don't work in Georgia, but I do have a lot of experience helping buyers with foreclosure sales. and I'll tell you what I tell all of my clients who like you come to me and say they want to buy a foreclosure, "Their rarely (and I do mean rarely) the deal you think. "
I've written about foreclosures sales on several occasions and have attached a link below that I encourage you to read before going out and looking at foreclosures to purchase.
Here is what is available in San Jose up to 300k which they start at 100k which is $500 down and $732PTIT and up.
Click the following URL to see the listings San Jose up to 300k:
Here is a flyer and a needs list to gather together for processing your loan approval. Once I speak with you I will email you a pre-approval letter so you can go out shopping for the home of your choice. I can refer an agent to you as my brother in law and his wife are Brokers in San Jose or you can choose?
CHF Access half percent down flyer, pdf
Sheryl Arndt, standard needs list checked, pdf
Why Rent brochure
CHF Access income limits http://tinyurl.com/8lzf8he
Sheryl Arndt, Broker â€“ Sr. Loan Officer
Once foreclosures are on the MLS, you essentially buy them as you would any other home .
Best of luck.
Many have tried, but few have succeeded in trying to purchase REOs prior to listing. There was a time when "bulk sales" were all the rage and investors were making small fortunes lining up hundreds of properties at a time, but those days are gone now that Wall Street private equity players are looking to buy and rent properties across the nation.
Most lenders place their REOs with an asset management company that preserves the property until the lender is ready to sell. Given that market prices have not only stabilized, but in some cases, have begun increasing, there are certain foreclosures that arent likely to be sold for quite some time, since lenders feel perhaps the market value will increase over time.
Now if you do find an active foreclosure for sale, brace yourself: You're likely going to be competing with at least 10 other bidders, assuming the property is in decent shape and a moderately sought after area. Highly sought after areas could easily attract 20 or more offers.
Its not uncommon to see foreclosures sell for quite a bit more than one would expect. Its a crazy market.
Depending on what your game plan looks like, you might do better on a short sale.
I'll just go with the consensus on this one: consult with a local agent in your area.
Best of luck with your purchase!
B&B Realty Group
Keller Williams Elite Dallas TX