Atlanta Foreclosured Homes
The Atlanta market has seen an influx of foreclosure properties on the market ranging from midtown condos to single-family suburbia homes. While there are so many properties on the market, navigating through the masses to find properties that will meet your expectations or investment needs is quite a challenge. Working with an experienced real estate agent from Jason Lapene Realty will ensure that you are guided through this process with your best interests covered.
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Foreclosures in Atlanta
Before beginning a search, it is important to understand exactly what constitutes a foreclosure property. When a property owner reaches a point where they are significantly deficient in their mortgage payments, the lender on the property will seek a court order to terminate the property owner's legal right to the property. The lender will then seize the property and proceed to sell it as a means of recovering some of the funds lost on their investment in the property through their loan to the property owner.
As you consider purchasing a foreclosure property, consider these suggestions from your Jason Lapene Realty agents and contact us for further assistance at (404) 895-9618 or by email.
Jason Lapene Realty's Foreclosure Search Checklist:
Foreclosure properties are popular among investors as they can sometimes be purchased at an extremely discounted rate. However, the real cost might come after the purchase when you have extensive repairs and improvements, taxes, and insurance fees. Your Dwell Atlanta agent will be able to assist you in locating the home that will fit within your budget.
Often foreclosure properties are sold “as-is” without an inspection or report on the condition of the home/condo/townhome. You and your Jason Lapene Realty agent will visit the property and inspect the outside as well as the inside of the property should it be available for viewing. Sometimes you can get a good feel for the condition of the property just by seeing the exterior upkeep of the home.
Your real estate agent will be able to gather research on comparable properties in the area—reviewing the selling prices of other homes, average household incomes in the area, etc. will help you estimate a value for the home and potential value for the home in the future with care and upkeep.
Buying a foreclosure property is not as simple as some might like to make it seem—there are pitfalls and challenges that await those who are inexperienced in the process. If you are looking to purchase a foreclosure property, make sure you are working with the best and most experienced foreclosure real estate agents—work with Jason Lapene Realty.
Question about these listings? Call 404-895-9618
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