Bargain Basement Sale: Are you grabbing items from the sale rack at a deep discount?

Bargain Basement Sale: Are you grabbing items from the sale rack at a deep discount?

English Team clients have been loading their shopping carts this week with deeply discounted houses from the national bargain basement sale.  Foreclosures, estate sales and fire sales have been on the “buy” list for buyers represented by The English Team this week.

Bargain Basement Sale: Are you grabbing items from the sale rack at a deep discount?

If you have ever shopped bargain basement sales at Fellinis, Macys or Richs, you know the excitement of finding a bargain priced sales item in a pile of junk on the sale table.  I have been busy this week writing offers for buyer clients who have found houses they want to buy among the hundreds of foreclosed and REO homes on the market in Atlanta.  Some of these offers will work out, and some will not.  Banks are still not seeing the wisdom in unloading this troublesome inventory.  They continue to sit on houses that depreciate every day as they sit vacant and un wanted in the neighborhood.

Savvy buyers are making bargain basement priced offers on the homes and some of them will walk away with the steal of a lifetime.  Others will walk away empty handed.  It is a property by property decsion for the banks and they have no consistent method in their madness.

Are you thinking about buying bank owned property?  You need to get your finances in order (pre approval letters from reputable lenders are a must) and get in the game. Cash offers are golden if you are looking for somewhere to put the CD money earning about one percent interest. 

Call Sally English and The English Team at 770-939-3174 to find out more about buying foreclosed properties.