Steals and Deals in Atlanta Real Estate Foreclosures
December 2, 2008
The Real Deals Don’t Last Long
The best deals are being snatched up only days after going on the market.
If you don’t act within a day or two, another investor will steal the deal instead of you. Or a competing offer will sneak in and beat your price.
Buying a foreclosure by yourself can be tough. A pre-foreclosure, or short sale, is tougher. It seems banks go out of their way to make buying a foreclosure difficult and frustrating.
Tired of running around chasing the best deals?
Tired of being a day late and a dollar short?
Get a Never Ending Stream of Foreclosure Opportunities
- Deals offered by real estate wholesalers in your area. Because these deals are already deeply discounted, you don’t need to negotiate on them. You can buy them today!
- Hundreds of motivated sellers, with bargain-priced properties, have contacted us wanting to get an offer from our members. All you have to do is send them your offer today. They are waiting on you.
- Many homeowners who are losing their home to foreclosure, will file bankruptcy as an attempt to delay the process. These properties are real bargains. We are always on the lookout for these properties and when we find them, they are sold–fast!
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- Gain access to the latest foreclosure listings with Steals and Deals™ live property updates.
- Review the tax records. Obtain the sales and mortgage history, learn the tax assessment value, discover the recorded square footage and lot size.
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- Work with Steals and Deals™ partners to submit an offer within an hour of deciding to purchase.
Only four things are necessary to turn a Steals and Deals™ property into a successfully closed foreclosure bargain:
- Up to the minute property foreclosure data and related information
- Rapid access to view foreclosed and pre-foreclosure properties
- Quick submission of offer with earnest money and certification of funds or lender pre-approval
- Registration in our Steals and Deals™ membership program.
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5 Responses to “Steals and Deals in Atlanta Real Estate Foreclosures”
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the only problem i have with REALTORS today is that all they want to do is to talk SHORT SALES and not about saving their homes and credit. i am taking a pro active stand . i am working to do a loan modification. we negotiate directly with thier lender to reduce their payments by up to 40% or more , and their interest rates, and if need be reduce their mort. bal. all without a credit report,appraisal or closing costs. this is not a re-fi but a modification. when we are done they not only keep their homes but they get a new mort. it is the best thing i have ever done. screw the damn banks for putting all these people in the problems they are in now. what a heart warming feeling when they call and say how greatful they are. all REALTORS want to do is short sales and they lose their homes and credit and the agents make a commission. what kind of animals have they turned into. it’s the worst i have ever seen
dick
Let’s shine a little light on this shall we?
Loan mods are wonderful **if** you have the option. See, not everyone qualifies for a loan mod. As a Realtor, I explain all of the possible options for my potential customers. All of those options have their pro’s and con’s. I also suggest that they seek professional advise from a financial planner.
Short sales do salvage the Seller’s credit to some degree. Foreclosure is much more damaging to credit rating than a short sale.
Banks did not screw people. Greedy and/or ill-informed people screwed themselves in most cases. It shouldn’t take a rocket scientist to figure out that if you are earning $35k a year, you cannot afford a $350k mortgage.
“Proactive” would have been knowing what you were getting into in the first place and never signing on to a mortgage you could not handle. Loan-mod, short sale, foreclosure- all “reactive” and unfortunate.
There is much more than commissions to a meaningful career in real estate- but thanks just the same for your opinion Dick.
Dick, I understand how great it must be to help these people through the restructuring process.
As an experienced real estate broker who has been through all the up and down markets, I can assure you that I would much rather have people keep their homes. I don’t seek out short sale listings, in fact I try to discourage the sellers from having to do them. I don’t list short sale properties. There are way too many legal hassles you get into as a real estate professional when trying to negotiate with the 1st party, second party and 3rd in line. However, if someone has to sell their home and move on, I assist them in finding a short sale specialist or get them to positive thinking mortgage specialists who can get them into a better position to sell.
When you say we are making commissons on these short sales, believe me – those commissions (that I prefer to call a paycheck) are hard earned and most of the time heavily discounted. By the time it is completed I’ve been paid a very low dollar per hour to get them through the crisis.
When I have worked with buyers interested in short sales, full disclosure is necessary to guide them through the process. Most buyers will withdraw from the process because of the time involved in negotiating through the weeds. I’ve seen short sale closings fail at the closing table – so all parties have to be fully disclosed as to the downfalls of short sales.
My emphasis is on consulting and guiding, no smoke and mirrors and referring to experts.
I am a Realtor who agrees to some extent with Dick (commenting above). There are two classifications of buyers, families and folks with the goal of home ownership, and investors. They are worlds apart on motivation, emotion and purchasing methods.
Although I deal with both, when dealing with a home-owner/buyer I will most certainly protect at all costs the investment made in a property. Many folks come to me after falling victim to predatory lending practices or who in some cases, have simply overextended themselves, and lastly in some instances where there are life altering circumstances causing them to be in a position of possibly losing their homes and investments. My JOB is to HELP people. It is not necessarily a quick solution. Working through the quagmire, being in the trenches with lenders, with creditors, with highly emotional people is where I often find myself these days. Understanding how to negotiate on behalf of these folks, what works and what does not, is my business. Not always is a loan modification or re-finance possible, but when it is, I sleep a little better at night. I do not doubt that these people will remember me when the time comes to sell their home or purchase the next.
As for working with sellers on short sales, this is emotional, it is often a reality check and an embarassment. Fully involving yourself as a professional means working to simply lessen the blow. Rarely is it a win-win situation, but again, the efforts do not go unnoticed, and these seller customers are appreciative and will most likely remain loyal. I ask them for that up front. It may not put gas in the car right now.. but if you are in the business for the long haul, there are rewards down the road.
In all fairness to those who deal with investors on properties as are described above, most often it is not a stalking of the prey, but a consideration of property that is no longer owned by home-owners, but now lies with corporate lending insitutions. There are no emotions involved in these transactions. It is simply a numbers game, and one must remove all emotion from the transaction. In those instances, I am a single agent for the buyer, I am not a representative for a corporate entity.
Being a Realtor is a full time, multi faceted career and people should be able to turn to you for advice, for professional solutions and for business and personal ethics. There will always be those who specialize in the “dark side”, who wait for opportunities that arise from the loss of others. If more lenders would work WITH those who are in jeaopardy, we would not be having this discussion anyway. Why does it take the government stepping in and mandating cooperation,.. that is the real question. That should be a business “no brainer”,.. but until the powers that be pass that onto the worker bees and get to the business of running their companies..we will not see this happen in this decade. Presently, while those of us with consiousness and work ethics are trying to stabilize this market and restore consumer confidence, the “powers that be” are enjoying their bailout money and probably on vacation because it’s just to stressful to think about it.
Debbie Kirkland
Thank you, Dick, for taking the time to comment. I trust the move into your new real estate, financial planning, mortgage arena has been productive.
…interesting you choose to point the finger at real estate agents and banks as the root of the foreclosure problem. And, on a post directed to investors.
My practice echoes the professional standards shared by Mike, Linda, and Debbie. It seems we take a consultative approach based on the needs of our clients. Thanks to each of you for taking time to share your approach to a very complex situation.