Question Details

Elisha Stiga…, Home Buyer in Atlanta, GA

If I want to buy a house in Foreclosure, is an auction the only way to buy it or is there another way?

Asked by Elisha Stigall, Atlanta, GA Thu Feb 19, 2009

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Foreclosures can and usually are listed with a realtor if not purchased at a courthouse auction.

They should be able to search the local system with that keyword and pull up homes under that category.
0 votes Thank Flag Link Thu Feb 19, 2009
Other options:

Contact a local realtor who forwards properties in foreclosure, short sale, or have equity based on your specifications and lender approval.

Many auctions may not have the opp. to preview the home, no the value, and etc. vs. with realtor represents you. Submitting a bid for foreclosure via a realtor REO is an indirect auction other buyers represented by real estate agents place offers on home.

Banks are difficult work with not due to agents, many have slow response, however if you have time there are good buys. We instruct our clients although we placed on offer on a foreclosure best keep looking.

Interest rates are low, you receive annual tax benefits.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Thu Feb 19, 2009
Elisha, Reading through some of the information here may help you...http://www.trulia.com/foreclosure/

http://www.biggerpockets.com/foreclosure-process.html

Good luck, Dunes
0 votes Thank Flag Link Thu Feb 19, 2009
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