I get calls all of the time from people that are looking for a great deal… I can’t blame them… we ALL want a great deal.  And there is something that the vast majority of these calls share in common.  They are positive that the best deals HAVE to be foreclosures and short sales.

That is often not the case, though.  There are a variety of reasons, but it comes down to two facts… the first is that the banks don’t want to lose a single dollar more than they have to while selling the property.  The second reason is that when homes get to the point there are being foreclosed, there is a good chance that there is missed maintenance.

Are there foreclosure deals?  Absolutely.  Are there deals that aren’t foreclosures?  Absolutely.

The “BESTEST” Deals are Foreclosures (or short sales) is a post I wrote last year about this very thing…  Since then I have been in lots of foreclosures.  One thing almost every single one of them shared is that all of the carpets needed to be replaced and all of the walls and ceilings needed to be repainted.  You can almost assume that flooring and paint will need to be done… probably right away.  Some have needed WAY more work than that.

One exception to the deferred maintenance rule may be brand new homes that the builder has defaulted on.  These homes may be incomplete… and my loan guy, Ken Cook, has a new program to get the previously difficult to buy properties.

If you are looking for a deal in Gwinnett County, give me a call… let’s see what we can find.