How To Buy A Foreclosure
It happens daily. We will get a call regarding a home and the home buyer will ask us how they can buy a foreclosure. I have to ask, "what do you mean?" There's many different definitions of "foreclosure" floating around out there. Especially as it relates to Georgia Real Estate.
Foreclosure - technically is the term for what happens at the court house. The home is "foreclosed." This legal process in Georgia transfers ownership from the current owner or holder of the warranty deed to the entity that holds the security deed.
At the court house, you can bid on homes that are going through the foreclosure process. You must pay that day and with cash and it only happens the first Tuesday of the month.