$80's, 200k, Big House, Brick, buying, Buying A Foreclosed Home, Carpets, Ceiling Fans, Estate, foreclosed, Foreclosure, home, Lot, Mature Trees, money, neighborhood, Real, Real Estate, Remodeling, Shape, State Of Georgia, Toilets, Two Acres, Wood Floors
Real Estate Q???. Buying a foreclosed home ???
I have been watching the homes that come up for sale in a particular area I want to move to. There’s a particular subdivision that has what I am looking for: established neighborhood, homes built in the 70s and 80s, beautifull architechture,lots of land (from one to two acres)lots of mature trees, the homes range from 200k to 500 (state of Georgia)
I found a foreclosure that started at 255 then went to 155 and now its down to 137.K I went to check it out, it looked like it needed a lot of repairs, I went in with a friend that knows about remodeling and construction and he said it looks like I will need about 15 k to get it back in shape thats OK so far.But I am scared to death to run into more problems once I buy it and not be able to afford paying more for unforeseen repairs. Everyone tells me that house and the neighborhood is worth it. I need advise.
ADDING DETAILS: The house has an updated kitchen that probably cost a lot of money to the previous owners. What the house needs mostly is new carpets upstairs (it has wood floors downstairs) The toilets look awful, one is missing!!! it needs four new toilets 8 ceiling fans (its a big house, it needs painting thru the inside, the outside brick needs a good pressure wash.
Related posts for Free Dunwoody Home Search
From → Uncategorized
I’m part owner of Home Source Group of REMAX Greater Atlanta Realtors® specializing in Atlanta Homes in Brookhaven, Chamblee, Dunwoody, and Sandy Springs. Whether you are buying or selling your home we work with resale’s, first-time home buyers, companies relocating people to Atlanta, and most home sellers in northern part of the Greater Atlanta area.
Contact Me today
678-248-3500
wade@wademorris.net
i love these new, smart, different types of questions!
UNLESS I am in error, when I take my
renewal hour courses in AZ, a man, representing a HOME repair insurance
company visits us and touts his company’s
stuff. IT looks legit, I think they are
in most all states.
what it is –you buy at the time you buy
your house, their insurance. They send
an inspector to the home and he
tells you what your home needs and
his firm will insure the condition or
equipment –appliances after the
house has been improved.
IF that service is not readily available
to you, let me know! I will find such
a facility!
Without risk there are no rewards. No two ways about it …it is gambling.
Do you due diligence to find out everything and anything you can about the property.
It’s going down not up! That’s a good thing money wise but 15,000 just in repairs? not remodeling? That’s prob. why it’s going down… BUT if you fix it up, it’s in a nice area imagine what it will be worth in 5 years?
If you don’t have contingency funds available for unexpected items, don’t buy it.
Another way is to have the seller provide a credit for your closing costs and therefore preserve some additional cash.
Don’t buy without reserves. There is a high probability there will be expenses you didn’t expect.
Don’t be a gambler.