Jennifer Bryant has made more than 30 offers on houses, mostly from her cellphone, in many cases without viewing the property. Buyers have the unique opportunity to pay below-market value for homes which wouldn’t be available to them under normal circumstances. Prospective buyers of foreclosed homes may be wise to submit bids on several properties at once, because it is possible for competing buyers to secure a property with a higher bid or an all-cash offer.
The inventory of existing homes for sale fell more than 20 percent in the year through April. Find Properties that match your search criteria and receive notifications when new homes hit the market. The idea is to stabilize neighborhoods – and markets – that were badly hit by the housing crisis, which in Atlanta resulted in an estimated quarter-million homes going through foreclosure in just a few years.
In the wake of the 2008 housing crisis, opportunistic investors swooped in with hopes of profiting on tens of thousands of blighted homes across the country. If you must permanently give up your pets, you will obviously want to find permanent, loving homes for them.
A property is in pre-foreclosure after the mortgage lender has notified the borrowers that they are in default , but before the property is offered for sale at auction. The bank also agreed to develop a fair housing training program for its employees and the real estate agents who sell foreclosed properties.
This process is generally much faster and cheaper than foreclosure by judicial sale. If it’s a short sale situation, the owner’s lender has to approve the deal and that can take a while, as mentioned earlier. Notice of the sale is advertised in The News & Observer and posted on the bulletin board inside the Salisbury Street entrance of the Wake County Courthouse 20 days prior to the auction date.