About Fulton County, GA

Everyone wants a foreclosure, whether they can ultimately rent it or rehab it for profit -- or not.

Because I get a lot of calls from the curious, I can explain some of the procedures.

You'll have to either download from the internet a set of stipulations and/or requirements from a bank and each bank with have similar requirements to follow. Some may have thirty pages of information that you must comply with, much of it repetitive.

The bank will announce that their foreclosures are competitively priced at fair market value or below, based on subject property's condition. In the event there are multiple offers on one property, you will be notified and will than have specific multiple offer instructions. You might think they want you to give it your best shot at price, but it can also be that they will then not pay closing costs for example. In other words, now that there's several people interested in the property because price is excellent, you may have to give up the closing costs you've asked for (if this bank has even allowed you to ask for closing costs).

When you submit your offer, you will have no choice whatsoever but to call a designated loan officer and have the offer be accompanied by a pre-qualification letter from said loan officer indicating the type of financing and terms (you want to close in 2 weeks with the bank paying closing costs). You will be given a name, phone number, and a website to make application. Can you use your own bank ultimately? Sometimes and by that I mean if there are two offers that are the same but Offeror A will use the bank's person and you want to use your banker, Offeror A is getting the property. Don't bother making offers if you need to sell your home first; foreclosures are non-contingent sales. You won't be able to go to closing in the morning on your house and then close on the foreclosure across town in the afternoon. I've put my entire house in storage and lived in temporary housing to get a good deal. While it's a drag with three kids, goldfish, a cat and a dog, if you save $100,000, isn't it worth it?

You'll also have to add certain language to the contract to the effect that "Purchaser understands further addenda may follow verbal acceptance." This means that you've signed twenty pages of addenda, now twenty more pages may or may not follow. You will also be signing a paper stating that you understand you are using the bank's affiliates to close - loan officer, attorney, title company. If there is anything in the house such as a washer or dryer and it was intended to be left for the purchaser, it is not warranted to be in working condition, nor will it be replaced with an appliance that is working. Any disclosures required by the government, such as mold disclosures or lead paint disclosures will be signed and submitted. Foreclosures are sold in "AS IS" conditions, no disclosures, no warranties, no repairs, nothing. Can you ask the bank for a repair once you have your inspection? Everyone wants to ask for repairs despite the fact they were already told not to ask, you will not receive funds or repairs and you may receive your earnest money back. The exception may be safety or structural defects making the house unsound. I've had people claim they understand the meaning of "as is," they promise me they would never ask for repairs and as soon as they have an inspection with a laundry list of several repairs, they get overwhelmed and want their money back and want the bank to reimburse them for the inspection. If this is your personality - don't ever buy a foreclosure. You're getting the house based upon condition and your offer reflects that.

Earnest money will be in Certified Funds and once the bank signs the contract, the money is deposited. Most banks will set guidelines of acceptable earnest money up front. It's generally from $1,000 to $5,000 (more if million dollar property and above) and all cash offers are 10% of listing price, not agreed upon price. The bank pays commissions based on their net. A copy of the check is sent along with the contract, bank's loan officer letter, and addenda.

Give yourself plenty of time to close. If you want to close in thirty days, be prepared that the loan officer MUST have all lenders packages to the closing attorney at least three days before closing. If there is a delay, the buyer pays a daily charge and it will be unpleasant, it won't be a mere $100.00.

Once you have received verbal acceptance, you'll have to sign at least one clean purchase agreement, any addenda or counteroffers for blue ink signatures within two or three days of acceptance. You can then have an inspection if you wish and you will have to pay up to $400 to have the house water lines de-winterized and then re-winterized before and after inspection. If the utilities are not connected, you will have to call the utility companies to have service put on in your name and also to meet the gas man at the property to light the pilot light. Utilities will need to be on during the inspection period, and have it arranged with the inspector that once you verify everything is working, then he can come and inspect. Otherwise, you'll be paying for a trip to the house by the inspector, then a return visit. If closing is delayed, you will have to pay to have utilities put in your name on what was your original closing date.

No bank will allow their agent to forward your contract if even one page is missing initials.

Lastly, you will have to pay to have to doors to your foreclosure home re-keyed. The bank will put on a new set of locks once the former seller has vacated and they will not supply you with any keys at closing and in writing, you will agree to that term as well.

Rental property can have very stable, respectful and reliable tenants. Atlanta, GA

Lots of furnished rooms for rent are not clean and contain old, thread bear chairs, sofas, and soiled mattresses. Would you want to stay any longer than you had to in a place that does not support a good sense of self-esteem? Nicely furnished rooms engender good paying tenants, who stay for long periods.

Our favored tenant populations generally do not have their own transportation so proximity to public transportation is necessity.

Key to this equation within our program is good tenant screening, which oddly enough doesn’t include credit or traditional background checks. Our tenants are referred to us, so we learn about them and their history though direct questioning of people who are familiar with each potential tenant individually. We discover personal background information and work experience. This type of screening done methodically will produce good paying tenants who stay for extended periods creating a stable house.

To learn more about setting up transitional housing, please download our free Ebook from the side bar on our main blog site.

Don't hesitate to contact us with questions. Learn about us. Learn our system. Learn what others have to say about us and our system.

Looking for an upscale home at foreclosure prices? Sandy Springs Village subdivision maybe just the place for you!

Located on Glenmanor Court near Glenridge Road and Johnson Ferry close to the heart of Sandy Springs, the Marta Train, and GA 400, Sandy Springs Village will allow you to easily get around Metro Atlanta. Beyond the convenient location of the Sandy Springs Village real estate, you will love the lavish custom features. From the over-sized master suites with spacious sitting rooms, fireplace, spa-styled bath and balcony to the gourmet kitchen with granite countertops, Sandy Springs Village is a must see for its deeply discounted prices. These stunning brick homes also feature 4 - 6 bedrooms, terrace/basement levels, balconies, stacked stone fireplaces, hardwood floors throughout main floor, stereo surround sound pre-wiring, and many other treats for any homeowner.

Want more details about Sandy Springs Village? Contact places2love@gmail.com or 404.444.5777. Happy House Hunting!

Roswell, Georgia sits in the Northern Atlanta metro area, just south of the city of Alpharetta. Roswell is a history rich city filled with many historic southern artifacts. The town square in Roswell is surrounded by century old buildings. Summer festivals are very common in Historic Downtown Roswell. With it's vast array boutiques and restaurants, Downtown Roswell is always a popular tourist destination. This city definitely has a classic character to it, the kind that is hard to find these days in the common suburban landscape. Roswell High School is one of the many top schools in the Fulton County school system. It doesn't matter what type of home you are looking for, there is a good chance of finding it in Roswell. Roswell GA Real Estate consists of up-scale luxury homes and a good variety of every type of housing. Residents love the fact that at off-peak times, Roswell is only a 30 minute drive to Downtown Atlanta. There are also some foreclosures and short-sales currently available in Roswell at this current time. It would be my pleasure to be your Roswell Real Estate Agent and show you all of the great Roswell homes available.

Jennifer K Giraldi, REALTOR

Solid Source Realty

678-469-9519

Free Bank with Toaster! Well that certainly caught my eye when I got it in an e-mail today. My father had been to a "moneyshow" financial seminar that he attends annually in Orlando, FL last week. He shared some general notes of what they were sharing, mostly random notes he'd taken.

i have attended the last five annual shows...and will write at random from my notes..........the 90s was the worst decade ever for stock market return....minus 9% worse than the 30s...if oil drops under 60 bucks means the economy is very weak.....headwinds ahead...CONSUMER DEBT.....average household has 15% equity today in the house down from 50% 4 years ago....and less than 100,000 in total equity....no interest rate increase from the fed this year....DEFLATION...the federal reserve is 96 years old....the value of our dollar is $.04 versus 96 years ago....new technology is deflationary...faster cheaper....see another 10% decline in home prices in 2010...on average......3.3% gdp needed to stabilize the economy....and keep employment from getting worse...from 1968 to 1982 the s&p declined .4% 67% of that was due to inflation during those years.......$50 Trillion was lost world wide the last three years....15 trillion in the USA...the current stock market has only recovered 3 trillion of that to date.......3 banks that are worthless....citi,wells fargo and capital one....April 10th the dollar will rally up....housing problems in Rust and Sun belts....no jobs in the rust belt.....san diego housing was 14times household income...house prices are 2.4 annual income today...from a peak of 3.4 times 3 years ago...we need to build at least 1.5 million new homes a year...but are building 500,000....plusses...rising corp profits,no inflation......minusses....government involvement in everything,,,,government changing the rules,,,and very slow growth ahead...........new slogan....FREE BANK WITH TOASTER....

Now, I realize this isn't organized and I didn't want to mess with it, as you get the point. One of the things I just love about my dad is his thirst for data and information. He is ALWAYS asking questions and learning. What a great trait. Also there is a lot of wonderful analytical information, which I just enjoy trying to figure out how to move forward from here.

I'm not sure whether we should be laughing or crying with the new slogan: Free Bank with Toaster!

We certainly do have some big challenges today all over the world. I just hope they are not handing out banks at your retail stores when you buy a toaster and do you really want one if they are?