How to Buy a Foreclosure.
Buying foreclosure real estate in Atlanta or any other area is a unique process. You are best served by working with a seasoned foreclosure agent. Steve Collins is an expert at helping you get the best price from the financial institution or trustee who owns the foreclosed property, and he is familiar with the documentation and requirements that are associated with purchasing a foreclosure. Below we have provided the basic steps in locating, evaluating and bidding on foreclosed homes and properties. Please e-mail us if you have any questions.

Step 1: Finding foreclosure properties.

Court House Sales. You can also buy properties on the first Tuesday of each month on the court house steps. These properties are advertised the month prior to the sale in the local newspaper. You may well get a great deal, but there are many pit falls with these sales that you should be aware of. First, these sales required cash in hand. You are not granted any inspection period, or even the right to view the home inside, because the home is occupied by the previous owner until the sale is consummated (at which point you will need to perform your own eviction). Without a chance to inspect the property you don't know if you are buying a lemon. You will be bidding against seasoned investors, not to mention the lending institution generally has a reserve price that is not lower than the outstanding debt, arrears and foreclosure costs.

Auctions. You can often get the jump on the auction by putting your bid in prior to the auction. Call us and we will take you through the process.

FHA and HUD Homes. We can provide you with a list of these foreclosure properties. We have certified HUD specialists on staff waiting to help you with your HUD purchase. Please contact us for more details about buying HUD homes.


Step2:
Pick up the phone and call Steve so he can prepare you a list of suitable properties that match your search criteria and then take you out to view the inside of the properties.

Step3:
We can help you in finding the right mortgage company that specializes in foreclosed home financing.

Step4:
We will assist you with a market analysis of each property enabling you see what other similar properties have sold for so that you will be knowledgeable about the value of the final selected property.

Step5:
After you have selected the right property for you we will commence negotiations and get the property at a price and terms that are acceptable to you.

Step6:
After the contract negotiations the Inspection contingency begins; this is usually a 14 to 21 day period after the contract is accepted. This allows you to have the property inspected to determine its condition while allowing you to withdraw your offer if the property is not in a condition acceptable to you.

Step7:
Steve will accompany you to closing and review closing documents with you, handling the final touches to ensure a smooth closing to your home buying experience.