If you have ALL CASH ( in your hands) you can bid at the foreclosure auctions at the courthouse. Most of the properties do not have any equity but some of the lenders will allow properties to sell at auction below the amount owed.
You have to do a lot of homework before bidding because not only will you not be able to inspect for serious issues with the property, but you may also get liens that stay with the mortgage. 2nd mortgages and other lienholders bringing a foreclosure will not extinguish a first mortgage so you need to do a lot of homework before trying this.
Otherwise if you're the typical "retail" buyer that needs to get a mortgage, you will pay close to "retail" prices.
And as mentioned earlier, banks do not sell directly to buyers--unless you're buying 20 properties for ALL CASH, then the asset manager may deal directly with investors. Buying an individual property,, forget it, you have to wait until the asset manager eventually lists the property for sale and bid against the other many bargain hunters looking for a "steal". So if you don't have an ALL CASH offer, find a competent Realtor that can help you make your offer almost as valuable as ALL CASH. There are certain tips and tricks that I personally employ and have been very successful with banks accepting my client's offer over others.
Most are listed. Some do sit in limbo for long periods of time before they are ever listed. On my website, I allow for anyone to look at all the properties listed. So feel free to browse around and if you have any questions, just ask.
Christian Swann, SRES, GREEN, REALTOR
Keller Williams Atl. Partners
Better Homes & Gardens Real Estate Metro Brokers has just added a "foreclosure" tab on their web site for just this reason.
You can search for foreclosures anywhere in the Metro Atlanta area, including Peachtree City, from this site.
There is a new 4BR 3BA foreclosure just listed in my own subdivision, Robinson Woods Estates.
Check it out at: http://www.metrobrokers.com
I can also set up your own personal search site.
I would be happy to assist you in finding a home in Peachtree City.
I'll be happy to work with you when and if you decide to buy a property; meanwhile, you are welcome to use the search engines without any hassle.
The Campbell Team at RE/MAX Results
Most local realtors have access to foreclosed / bank owned properties. I recommend you contact more than one and ask lots of questions. I am an Accredited Buyer Representative and Short Sale Foreclosure Resourse and would be happy to answer any quesitons you may have. Feel free to contact me anytime I can me of assistance. Visit my website for additional information.
Mike Jones, Realtor, ABR, SFR. SRS
Prudential Georgia Realty
770-827-6097 Cell Phone
Whether Buying, Selling, leasing, investing, or just curious to learn more I am here to assist!
Bank owned property can be found just about every where. There are few communities ,unfortunately, that do not or have not had them. I would be glad to help you. Just contact me any time by way of my contact info and we'll start the ball rolling.
RE/MAX Around Atrlanta All Stars
719 W. Lanier Ave. Suite A
Fayetteville, GA 30214
Office: 770-460-3300 x310
Prudential Georgia Realty
Cell- (404) 993-4437
The best question is: Do you want a bank owned property or the best deal? To get the best deal get the best realtor for finding the best deal.
If you just want bank owned homes, our search tool will let you single them out.
An agent is always your best bet. And as a buyer they will look out for your best interest. Don't buy from the listing agent as their client is the bank, not you. They won't give you a better deal, can't disclose anything they know about the property or what the asset manager might have told them.