The million government foreclosures that have taken the real estate sector by storm in the whole of US haven’t left Atlanta untouched either. Atlanta, in Fulton County, is the capital and the largest city of Georgia state. Relocation to Atlanta would represent a brilliant choice, because this 33rd largest US city has world-class facilities in every sphere that you might wish for. Besides, Atlanta Metropolitan Area is pivotal to the emerging PAM {Piedmont Atlantic Mega Region}. The neighboring cities and towns of Atlanta include Fairburn, Hapeville, Sandy Springs, Alpharetta, Roswell, Milton, Palmetto, Mountain Park, Johns Creek and College Park.
Factors Making Government Foreclosures Irresistible
Government foreclosures represent an unconventional form of real estate. The foreclosed houses are on sale only owing to their previous owners’ defaults in payments of their home mortgage loans. Since the moneylender still requires to collect the balance loan debt, it chooses to sell the seized homes at property auctions. Moreover, since the lender only needs to recover a part of his loan amount, it can afford to sell the houses at listed prices way {10% to 50%} below the current market tags. Thus, the seller doesn’t lose a dime, and the buyer gets an elegant house at drastically lowered prices. The only losers in this scenario are the defaulting ex-owners.
Prudence mandates that you do not leap at the first attractive home that you find for sale. The market abounds with sale offers, and you must consider several options first, before making a reasoned pick. Realistically assess your financial straits first. You must seek to purchase a home, and take a mortgage loan for the buy, only after you have ascertained that you will be able to render its repayment installments timely in the long run. Any other approach may eventually prove self-defeatist.
While making all your efforts, you should remain clear about your choice of home, and astutely engage in the sundry fluid negotiations that will determine the extent of profit that you get to make on your transaction. Embarking upon your quest for a new home won at the foreclosure auctions without specialized help from professional real estate agents would be foolhardy for the lay person. You could contact John Hunsinger, J. Carl Schultz Jr, John Webster or any of the other agents active in Atlanta.
Foreclosure Auctions: A Dual-headed Dragon
The foreclosure auctions are at least a dual-headed dragon. On the one hand, it feeds on the seized properties of the defaulting owners, while on the other, it offers the same homes as fresh alluring buys to other prospective buyers. Hence, you must manage to always keep on this dragon’s right side. You can seek to profit from real estate investments, but ensuring that you do not undertake any new recurring financial liability on a mortgage loan that you may find difficult to continuously render over the years. That might prove suicidal to your own longterm interests. Adequate care will reward you with a worthwhile asset and an asset bound to appreciate in value with time.
