Get out in the field now. Start riding areas that you think you'll like and narrow the scope geographically. Get a good agent that can zero in listings for you, you don't need to be riding around all day like a potted plant, nearly everything can be done from the desktop and you should visit only homes carefully reviewed.

While a foreclosure might sound appealing, not many will go end to end in 60-90 days so don't limit yourself. A good agent can work conventional lists just as well.

Let me know if you need help -

Hank Miller, SRA, ABR
Associate Broker & Certified Appraiser
Prudential GA Realty
678-428-8276

Craig,

My colleagues have provided great responses to your question. I'd just like to add that if you are looking to take full advantage of the down payment assistance programs available, particularly the $14,000 to purchase a foreclosure, it would be wise to get registered for an eight-hour home buying class because they are filling up fast. That class is required in order to qualify for most of the down payment assistance that is currently available.

I'll also add that if your lease is up at the end of August, you might want to consider closing on something around July 31st because your first mortgage payment would likely be due on September 1 with a grace period up to September 15. Most lenders who provide the down payment assistance described above will need at least 45 days to close, which means that you should probably try to be in binding agreement by mid June. Therefore, I agree with my colleagues who suggest that now is the probably the best time to start your search.

If you are not currently working with an agent, please call me to find out more about the $14K in down payment assistance and the home buying classes. I also invite you to read the fliers to the left of the screen at the link below to find about the various down payment assistance programs that are currently available.

Solomon Greene
REALTOR® / HUD-Certified Affordable Housing Consultant - Keller Williams Realty Atlanta Partners
(678) 775-2677

If you close on your new home a couple weeks prior to your lease expiring then it gives you time to move your stuff out of your current place into your new home.....Start looking now and then set up the closing date for however long you thing it will take you to move into your new home. Some people like to paint and clean before moving in as well....

Hi Craig, In our market right now, most properties can close in thirty to forty five days be sure that all of the variables such as your lenders ability to comply in a timely fashion as well as the Seller (Bank) in case of foreclosure properties. Each listing is going to be different. Bank owned properties can run closer to 45 on average, allowing for some variance due to the unpredictable nature of R.E.O real estate. The process is actually very easy to navigate through with an experienced R.E.O Buyers agent. As a Buyer, you can request the closing date to coincide with a smooth transition from your current property that suits you best. A well written offer that is accepted, can make the first step to your new home a stress free experience.
I would be glad to assist you. It's a great time to be a Buyer.

I agree with the other answers. You want to start your search now so have plenty of time to look, stress free, and 30 days to close. Sounds like you are already preappproved, which is good. Remember that foreclosures can take longer to negotiate and short sales, even longer, so allow extra time for those. We've gotten some great deals on homes that are not foreclosures too or on relocation homes and they are in much better condition! Don't rule those out. Sometimes foreclosures are foreclosures for a reason. They may have issues that will prevent or delay resale in the future.

We would love to help you in your search. We're one of the top teams in the North Fulton and Forsyth area. We provide exceptional service and help educate you in the area of resale. You will not likely live in this home forever and we can tell you what will sell best when you are ready to move on. Remember the $8k tax credit you will qualify for if you haven't purchased a home in the last 3 years also!

All the best to you in your search. Call us anytime. Maria is the team lead on buyers assitance. She's fantastic, really knows the market well, and cares for her clients. Great negotiator too!

Talk to you soon! Check out our website too-lots of valuable information.

Sherry Ajluni, 678-548-5513
Maria Livingston, 678-548-5513 http://www.sherryandmariateam.com

Craig

Sally is right. And I might add, use a reliable mortgage person. The rules keep changing and you want someone you can count on to give you not only a good rate, but great service.
If you are considering a foreclosure, you will have to be flexible with you time frame when it comes to moving. Although there are alot of benefits to the lower price the foreclosure may offer, the risks are also higher. A good buyer's agent can help you with all of this.
Good luck!

Louise

Hi Craig,

NOW, NOW and NOW!! If you are looking at purchasing a home within the next 3 months you have picked a great time to start looking. It may take some time to find the 'perfect' home especially if you are considering foreclosures so be aware and give yourself as much time as possible. Try to schedule a closing date in a reasonable time before the end of your lease to give you ample time to do changes to the new place and move out of the old place.

I am a Buyer's Foreclosure Specialist so if you need help finding a foreclosure I am the person to call!!

Please call or email me with any questions and feel free to browse my previous posts.

Good Luck,

Lisa Allen, REALTOR
404-925-8261
Prudential Georgia Realty
LisasListings@att.net

http://www.LisasHomeListings.com

Craig,

I would suggest looking now. It'll take a few weeks to find a home, a week or two to negotiate and 30 to 60 days to close.

That puts you right where you want to be. Most of the time a long closing date is accepted by all parties, banks included.

If you are looking at a foreclosure it wouldn't hurt to start looking now. However, the good ones are gone quickly. I listed a foreclosure yesterday and received an offer today. Be prepared to close before your lease is up. If not a foreclosure, it generally takes about a 30 day process to close a loan and a contract. Give yourself a couple weeks to find something so you should start about 2 months out. Are you looking in Alpharetta? Let me know what you are looking for... I may already have it, and if not, I sure can find it! Good luck!

Sincerely,
David Brower, Assistant Manager/Realtor
Crye-Leike Realtors
678-982-9600
david@davidwbrower.com

If you are planning to use a mortgage to purchase the home, now is a good time to begin the loan process. It will give you time to correct any credit items that might show up. A pre approval will also guide you on the right price range. You will get a Good Faith Estiamate so you will have a good idea on the costs to close.

Sally W. Hamby
Pine State Mortgage