Buying a Short Sale or Foreclosure here in Metro Atlanta? A couple of things I have noticed here during the last weeks. The housing inventory of distressed properties has decreased by about 50% from this time last year. And? Be prepared for rejection. The distressed properties are being snapped up at quick rate and the buyers are offering more money for them, plus many are paying cash. Many times the buyers offer more than the properties are listed for. If you plan to make a purchase do it now and do it quickly. Good distressed properties do not linger on the market. Have your funding in place before you begin your search and be ready to pounce on the one you pick immediately. Procrastination leads to offer rejection.
Secondly, pick your insurance carrier early and verify you can secure homeowner’s insurance quickly. Only today a buyer I work with could not find an insurance carrier to cover a cash transaction. She had to scramble to secure coverage after the closing. A CLUE report for the property would be the order of the day.
Need a distressed property? Drop me a note at: EARL@EARLPARK.NET or Ph:770-377-5797
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