Home Buying in Atlanta>Question Details

Kira, Home Buyer in Atlanta, GA

Paying cash for a Atlanta, GA home.

Asked by Kira, Atlanta, GA Fri Jan 4, 2013

I am currently interested in Atlanta, GA real estate. I've noticed a lot of homes that are listed for $35,000 and less that I'm considering investing in. If I were to pay cash for a home that is $25,000-$35,000 would it be possible to buy the home for even less than the asking selling price?

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Answers

7
Mike Hammond is spot on. Preparation and presentation is key. If people are in price wars over certain properties, then find another property. Do you know how many there are?!! Thousands and thousands and thousands. And when you finish in Atlanta, go to Stone Mountain where you'll find thousands more.
And when you run out of money, contact me and I'll help you buy property with no money down or use some of your money now and buy 3 or 4 at a time.
0 votes Thank Flag Link Sat Jan 5, 2013
Presently, there is a decrease in inventory of homes under $50,000. There are buyers looking at the same properties and normally that leaves everyone competing against one another to get the property. This usually causes a request for highest and best by the Seller and whomever offers the higher price usually gets the property. So if you are interested in purchasing properties in this price range be prepared to offer your highest and best offer from the start.
0 votes Thank Flag Link Fri Jan 4, 2013
I'd say no. 2 of my clients are looking for the same deal you do. homes under 60k get sold for the listing price or higher + cash offers of course + get under contract in a week.
the market for the properties under 60-70k is very competitive. A lot of investors put their offers without even seeing the property.

Katya Cooper
Keller Williams Realty Atlanta Perimeter
Realtor ®
Cell: 256-565-6082
Email: katya@kw.com
0 votes Thank Flag Link Fri Jan 4, 2013
Maybe you can pay less and maybe you will have to pay more, Kira.

If you are serious, I suggest that you get in touch with an experienced Realtor in the area in which you are interested. The agents here on Trulia.com are a good place to start.

You need to get educated on the Atlanta market by an Atlanta agent. The condition of the market, comps, pricing, multiple-offer-situations, over-bidding, low-ball offers are just some of the subjects that you should discuss with your Atlanta Realtor.

Real estate is and will continue to be a good investment. Good luck!
0 votes Thank Flag Link Fri Jan 4, 2013
Both of the prior agents have answered your question completely.

Have a Happy New Year,

Rick Payne
Keller Williams Realty
0 votes Thank Flag Link Fri Jan 4, 2013
Keep in mind pricing is always negotiable, however in this current Atlanta real estate market, we are experiencing low housing inventory and homes for sale are getting into bidding wars with some even selling over asking price.

Laquita Baez
Licensed Realtor in GA and NJ
Better Homes and Gardens Real Estate Metrobrokers
404.843.2500 office
770.901.0956 cell
http://www.LaquitaBaez.com
0 votes Thank Flag Link Fri Jan 4, 2013
You can always offer less than asking price, Kira, whether cash or mortgage, but why would you offer $1 more than you have to in order to receive an accepted deal? Getting the comps and writing a great contract is key here. Please call, text or email if we can provide further assistance. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com

http://www.SellsRealty.org

http://www.city-data.com/

http://www.greatschools.org/
0 votes Thank Flag Link Fri Jan 4, 2013
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