A Gwinnett foreclosure auction is a good way to find a home in today’s market. Typically the prices for homes that are sold at auction are a tremendous value. However, this process of buying at auction can be complicated and can have a not so happy ending if you are not careful.
The difference between buying at an auction of a Gwinnett foreclosure and other listings is that the seller is typically a bank who is trying to sell a bunch of their inventory at one time through the auction process. Like any other auction, there is a bidding process with an opening bid. The home is then sold to the buyer at the highest price.
A Gwinnett foreclosure auction can be an easy way to purchase a home. Yet, we have seen several occasions where the buyer has gotten burned, so we advise only experienced home buyers or buyers represented by an agent go through this process. There have been instances where buyers have purchased a home and because there are no disclosures, found that they had bought a home that had defects that were not evident (mold issues, survey problems, and structural defects for example). Once you purchase the home, there is little recourse in most auctions as all sales are typically final.
So, if you are interested in learning more about Gwinnett foreclosure auction homes, contact us today and we will be happy to speak with you about that home and how we can get you into your dream home.
Call 404-886-8789, Today!