North Dekalb GA Real Estate Blog

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Real Estate Agent - Keller Williams Realty - Atlanta Partners - GARE#173400
The purpose of my blog is address and express my thoughts and ideas on topics that impact the real estate industry. Please feel free to comment on my post and let know your thoughts.
RECENT BLOG POSTS
The Obama administration laid out final guidelines on Monday that should make it easier for some financially troubled borrowers to sell their homes. The guidelines are designed to encourage the use of short sales, transactions in which the borrower with lender approval sells the home for less tha...
12/03/2009
More often than not, when a Buyer decides to make an offer on a bank foreclosure, they feel they should discount the list price by the amount of money the Buyer thinks it will take to restore the property to "live-in" condition. First, each Buyer defines "live-in" condition differently.  Granite ...
07/30/2009
Over the past few weeks I have been posting my thoughts, opinions and information on the "system" of purchasing a foreclosed property.  I listed 10 Things You Need to Know, but I am going to share #0.  Don't buy a foreclosed property without a REALTOR®. Purchasing a foreclosed property is a long ...
07/29/2009
10. The Foreclosure System is Currently Overworked With the onslaught of foreclosed properties in housing markets around the county, Real Estate Professionals are experiencing problems they've never seen before. The increased volume and never ending Seller demands has stretched listing agents bey...
07/22/2009
9. Penalties There are stiff penalties for every day the closing is delayed, beyond the date specified in the contract, by the Buyer or the Buyer's Lender. A typical penalty is $100 per day, and there can be a minimum fee if you request an extension.  It is imperative that you as the Buyer cooper...
07/21/2009
8. Banks Select the Closing Attorney In most transactions, banks have their own attorneys and will require you use them. Although there have been plenty of successful negotiations to select an attorney you or your real estate agent may have a relationship with, this allows the bank to control the...
07/20/2009
7. All Properties are Sold "AS IS" The bank has already lost a significant amount of their investment in these properties and are not willing to negotiate repairs. There are usually no allowances for carpet, lighting, paint or other issues with the home. All buyers are advised to have a home and ...
07/17/2009
6. Time is of the Essence Once, the contract is "binding" meaning both sides have agreed to the terms and signed all documents, time is of the essence. The bank will typically allow 7 days for the buyer to inspect the property.  This is called the "due diligence" period. If the buyer wishes to te...
07/16/2009
5. The Bank Sets the Rules Making an offer on a bank owned property requires that you submit "proof of funds" for cash offers, or a "pre qualification" letter from either the bank specified lender or your lender of choice. Additionally, the bank can require that you be pre-qualified by their spec...
07/15/2009
4. Banks Have Their Own Contracts Your offer to purchase the property will be written on a Georgia Association of Realtors (GAR) Purchase and Sale Agreement, which is the common form used in real estate transactions in Georgia. However, once all terms of the offer have been accepted by the bank, ...
07/14/2009
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Andre L. Allen

REALTOR, CDPE, e-PRO
smartphone(404) 939-3731
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