I would highly recommend that you have representation when working with builders as guidance is needed more in this market than previous markets. Make the wrong move and your deal will turn into a nightmare.
Most builders can no longer build a spec home so we are going to a pre-sale market once the standing inventory is bought. Since the best deals are spec homes it would lead one to think that pre-sales will be higher priced with less negotiations.
The deals are there for you to grab. If you need a great agent in McDonough, I have a fabulous referral for you.... and best of all represenation will cost you nothing but will save you thousands not to mention all the hassle.
Solid builders may stay solid by getting rid of stale inventory before it impacts their financial solvency.
Shop any and all builders for attractive buys. Buyer agents can give you good insight into which builders are flexible with options, upgrades and pricing.
Remember the term "As is." In a normal transaction, there are seller's disclosures. Sellers are liable for fraud if they lie, but that due diligence doesn't exist in foreclosures because there is no contract with the seller. Title issues may arise. You get a title search in a normal purchase after your offer is accepted. In foreclosures, you are responsible for your own title search before your bid is accepted. If you don't have a title search, you may prevail at the auction but be subject to superior liens like tax liens or contractor liens that will stay attached to the property.
Auctions are designed to get you excited. Some people are not mentally prepared to an auction in the right way and get caught in a bidding war. The auction could take place on the courthouse steps or in a courtroom, but the pace of the bidding matters. If it's fast-paced, don't get caught up in the excitement or you could overbid.
You always have minor hick ups when you move in and it's nice to be able to call someone and get it done.
I also live in the McDonough area and can definatly tell you that the foreclosures has slowed down here, there are not that many coming on the market new as it did last year. If you need help,. I be happy to show you some that have incredible deals as well as some that are being sold by banks now.
Visit my web-site or e-mail me with any specifics you are looking for like # of bed and baths, size yard, etc, no obligations. Good luck, it is a great place to stay, Pauline
If they are facing foreclosure enough for them to have received the letter, then that's public information.
Otherwise, this information is private and you'll want an Realtor who knows the area well and can give you the inside "scoop."
There's not really a list of distressed builders.. They are all distressed! Most any builder will entertain offers right now if you are well qualified and can close quickly.