Due to the rough economy, Atlanta has an abundance of foreclosed homes for sale, and homes being offered as short sales. Although these conditions usually mean a great deal for a buyer, there are some foreclosed homes or short sales which may cause buyers remorse. Cindy can help you to find the foreclosed homes for sale or short sales that truly are a buyer’s dream.
Problems buyers often miss are the result of focusing on the aesthetics and low price of the home for sale. A buyer of a foreclosed property, especially if it has been vacant for a while, is to carefully look at the condition of the home’s vital systems. Winter and summer months can be especially harmful to a home that has not been properly prepared for extreme weather or well maintained by the title holder. Problems such as cracked pipes, cracked foundations and pest infestations are real possibilities. Some foreclosed homes have been poorly maintained simply because the former owners could not afford to fix roof leaks, service their HVAC systems, repair electrical problems or handle any number of important tasks.
Tips For Buying Good Foreclosure Properties
The essential concerns for anyone who wants to buy a foreclosed home are as follows:
- Know your market including what may make this home attractive or unattractive to future buyers.
- Know how much you can spend. Try to get pre-qualified for a loan so that you know what you can afford, and what you can realistically consider buying.
- Know what you’re buying. Make a list of things to check and confirm which includes market factors, property condition, comparison sales prices, etc. Consider hiring a home inspector and/or a real estate consultant before you make an offer.
- Identify and value the costs for post-purchase repairs, maintenance and generally sprucing-up the property. Whether you intend to move-in, rent or resell the property there will be thngs that need to be done.
- Don’t make an emotional purchase. The home may be your childhood neighborhood, have the color you always wanted or have some other feature that can cause you to be distracted from this being a financial move. Pay attention to the money and make a better purchase.
- Call Cindy Shaft. A professional realtor has the market knowledge, transactional expereince and negotiating skills to get you the best possible deal on a good foreclosed property. Do not underestimate the value of hiring a competent real estate agent.