Investor · Decatur Atlanta, GA · Member since 2011 · 610 posts · 232 votes
There is a property that is in my target area that may be going for sale 1st Tuesday in July in DeKalb County, Georgia.
I'm sure there are some on BP that have went through the process.
I know who the attorneys are on the home and have gone twice just to see the process and know that you must find the the law firm at the courthouse steps that is performing the auction.
My question is how much of the total cost must I bring? Does it need to be a cashier check or can I write a check?
I've seen the house and if I can get it at my target price it'll be a good buy. From what I've seen the investment funds aren't targeting this area.
San Luis Obispo, CA · Member since 2012 · 94 posts · 23 votes
12y
I'm not sure the specifics in Dekalb but generally there are two different ways these are handled. The first is you'll have to bring a cashier's check for the full amount you're willing to pay on the property.
The second scenario is you'll have to put down a non refundable deposit of X% (normally around 5-10%) and then you have a period of time (generally 5 business days) to gather the rest of the funds or do any necessary due diligence.
Investor · Decatur Atlanta, GA · Member since 2011 · 610 posts · 232 votes
12y
@David Mitchell General warranty, which is fine. However, just got a call from the seller today saying if I put in an offer for a short sale that they could postpone the sale. She said they have a valuation and it fits my criteria.