This article is about Cheapest Atlanta Real Estate. You can buy a lot more real estate in Atlanta right now due to the cheaper prices. This is pretty much common knowledge at this stage of the game, but what is not commonly known is how to find the cheapest real estate That Atlanta has to offer. There are a few methods for locating these properties and once you learn them you will be able to locate outrageous deals almost any day of the week.
Auctions are probably the most commonly talked about method for finding great deals on Atlanta real estate. The question is how do you find out about these auctions and more importantly what are the rules of the auction? Every state, county, and city property auction has its own unique set of rules to play by. The answer is, check with your own county auditor. They should be able to direct you to the person in charge of that department. Before going to see this person, make sure that you have a list of questions in hand in case they only offer vague information.
Do some research on how many of these auctions work and learn what the different methods are. Next ask your contact person about which of those rules apply to your region or district. Never simply rely on information posted online because anyone can write anything they want on a blog. The last thing you want when purchasing Atlanta real estate is to discover that you did something wrong and end up paying more than you could have.
For example, some places hold real estate auctions that only allow you to obtain the right to interest payments on the property and others allow you to bid on the actual deed to the property. Another thing to ask is whether the auctions are being held online or at a physical location requiring your attendance. Online auctions are slowly becoming the mainstream for a lot of places because of the convenience of allowing a professional auction company handle all of the details. Just make sure you check because there are still some that hold their real estate auctions right on the courthouse steps.
Many banks are now holding huge surpluses of foreclosed Atlanta real estate. There are a couple of ways to find these properties. You can go directly to the bank and ask if they have a person in that branch that handles them. Often, you will find someone who can help, especially if it is a smaller community bank or credit union. In larger financial institutions, you will often discover that the people who handle this are located in a specific branch.
Some only list them online and you can find the list of these REO properties by going directly to the bank’s website and looking navigating your way through their website until you locate them. When using this method for locating properties, you will need to find out if this real estate can be purchased directly from the bank or if they use real estate agents to sell it for them.
Most of the larger banks are getting away from doing in-house real estate sales, especially since there is such an abundance of Atlanta real estate available. It just makes sense and saves labor costs to let someone else handle it for them.