Lee Adkins

What type of information are you looking for??
You can reach me direct at lee@leeadkins.net and I can certainly help you get whatever information you need.

Note that this is a RealtyTrac foreclosure listing and the price may not be an accurate representation of an actual "on the market price," but I can certainly help you find that out.

Thanks!!

Lee
404 966 3247 - Thu Jul 9 2009, 08:55

A real estate purchase is really a simple process - done properly that is.

You make an offer at a certain price - the seller, accepts, rejects or counters your offer.
If you reach agreement, then you have a price and a contract - then the loan process/appraisal happens.
Unless you are paying cash, the lender orders the appraisal and you have no obligation to share it with the seller.

The appraisal - especially under current market conditions - is primarily to justify the bank loaning you money to purchase the house. It doesn't reflect what you can sell it for tomorrow or anything other than that.

Similarly, an inspection is done to assess the condition of the home - you make an "offer" on what repairs are deal breakers for you and you and the seller agree or don't agree at which point you can decide to continue the purchase or to terminate it - assuming you are within your due diligence period.

Additionally, you use the word concessions, which implies money changing hands (which is generally illegal), a reduction of purchase price or increase in closing costs paid by the seller. If you are truly having concerns about repairs/condition of the property you should use this to address legitimate concerns (in writing) that would keep you from being comfortable from going through with the purchase.

I have to agree with Lee T, Hank and Jen - address all issues in writing and there is a clear cut path that seems to be working for those of us selling homes on a regular basis.

Good luck to you! - Thu Jul 9 2009, 06:26

Goat -
You have an impressive knowledge of the Atlanta area! From your stats on Trulia, looks like you have some great points and have a very large number of "thumbs up" in all parts of the country - I commend your being an active voice on this website and I'm always up for seeing all sides of a point/issue.

It is true that there is a large disparity within Fulton county - and I don't disagree with your take on the politics of Fulton county for the most part.

That said, real estate is a local market - some aspects are global, but for the most part I think it's safe to say that as a full time professional and resident of the county in discussion, I might have a little insight on what's going on. Additionally, there is (still) a movement to separate the North and South counties by creating Milton county - I'm not holding my breath. Forsyth county will ultimately go through the same changes - granted not within any average buyer's "life span" in a home they were to purchase now - and then it will happen all over again in Dawson county... or somewhere else.

It's probably clear that our political beliefs might be a little different and I think it would be a pretty boring world without open discussion...

As far as your "deceiving your mark" statement, I provide my clients with facts and let them make decisions. SEEING the difference between homes in Forsyth and Fulton, and helping them find homes and factors that are important to them. I think it's safe to say that all of us are answering questions here on Trulia to get new clients, but if you don't believe my sincerity on helping people find homes - not selling them something - I'll buy you dinner next time I'm in Denmark, Iowa.

Thanks!!

Lee - Sat Jun 20 2009, 14:52

Barry -

Thanks for your post here on Trulia!

Deerlake is an excellent community with lake/swim/tennis/playground amenities to name a few. Every time I have shown in the neighborhood, buyers love the community aspect of the homes and the overall look/feel of the neighborhood. There are actually two lakes and a few properties on one of the lakes and a few with lake views, sidewalks on both sides of the street, etc.

Deerlake is in Forsyth county, so the taxes are substantially less than Fulton county. That said, I personally live in Fulton Alpharetta and feel that I get great service, roads, school, parks and more for my tax dollar - I don't mind paying it as long as I am getting something for it! Forsyth schools are also excellent and the county is experiencing tremendous growth - hence what you have heard about traffic.

Deerlake is RIGHT at a bottleneck, where Highway 141 goes from 2 lanes per side down to one - the turn lane into Deerlake is actually where it happens. BUT 141 is being widened all the way up to where it hits Highway 400 at exit 13. Ultimately the DOT will catch up and they will probably have to widen it again by the time they finish - the pains of an ever growing city. Traffic is also only relative to where you are going and when, of course...

Generally, prices in Alpharetta (Forsyth and Fulton) are fairly strong - of course supply and demand have dictated lower prices with a lot of inventory everywhere, but if you plan to hold on to the property for 5 years or more you shouldn't have any major, bottom dropping out type of issues in such a desirable area.

I am happy to get you more information, email you currently active properties in Deerlake - or any other comparable communities - and anything else that would help you if you like.

Best of luck to you!!

Lee Adkins
RE/MAX Greater Atlanta
lee@leeadkins.net
404 966 3247 - Sat Jun 20 2009, 13:39

Joanne -
Thanks for posting here! Hopefully, you have an agent representing you in the transaction and they should really answer this question - with a big disclaimer that they are not an attorney, but can help you understand the pre-printed portions of the purchase and sale agreement.

Generally speaking, the consideration of $10 does not actually change hands. Consideration simply needs to be in place/written in a contract to make it valid and legally enforceable. The buyer would not be expected to actually give you a $10 check or cash for consideration.

Earnest Money is a whole different idea. It is a "good faith" deposit saying that the buyer stands to lose that money IF they are in default - which would generally be AFTER the due diligence/inspection period.

Once all signatures are on the contract, the seller generally has no unilateral (without agreement from both parties) right to terminate, unless there are stipulations or contingencies to the contrary.

I would contact a real estate attorney - who generally don't work on Sundays - immediately or if you do have a listing agent, see what they can do to help you.

No agent here can legally advise you to do anything and while there are many diligent agents on Trulia that would love to help you, we must abide by real estate laws in answering your question.

To try to answer the other part of your question regarding the "as-is." This is generally in reference to that if both parties don't agree on an Amendment to Address Concerns (repair amendment) AND the buyer doesn't exercise their termination, that the buyer is deemed to have purchased the property "as is" and is obligated to complete the purchase as such.

I hope this helps some - I can recommend some good real estate attorneys if you are interested in reaching out to an attorney.

Best of luck to you!

Lee - Sun Jun 14 2009, 09:04

Craig -
There are quite a few options to cross 400 aside from Holcomb Bridge - 2 of which are under construction currently, but should be good routes depending on where you end up. The river being right there of course makes it more complicated...

You can use "Riverside" to get under 400 - it's essentially Old Alabama south/west of Holcomb Bridge - east of 400 of course. It's Dogwood (by the Krystal) on the West side.

You can also cross at Mansell (which is also congested, maybe worse than Holcomb) and at Haynes Bridge. Encore Parkway - once they finish that Old Roswell Road construction - could be an option as well.

I am pretty "sensitive" to traffic myself, but the reality is that it doesn't take all that much time - especially to cross 400 rather than getting on it - and extra 4, maybe 8 minutes. There are just a LOT of cars in that small space and it honestly looks scarier than it is. You should probably just go and drive it one day before you submit any offers on homes.

As a Realtor and resident of the area (east) I drive that all day long - I'm in the RE/MAX Office right there on Holcomb just East of 400 - I would be happy to discuss any of this more with you.

Best of luck to you!

Lee Adkins
RE/MAX Greater Atlanta
lee@leeadkins.net
404 966 3247 - Thu Jun 11 2009, 11:06