A Gwinnett foreclosure listing is a home that has been through the foreclosure process and is now being marketed for sale through a bank’s agent. These homes are also known as banked owned or real estate owned (REOs). The benefit to searching for a foreclosure is that these homes are typically deeply discounted and can be a great bargain. Often times however, they also need additional work or repairs.
The difference between a listing that’s a Gwinnett foreclosure and other listings is that the seller is typically a bank or investor. When negotiating with a bank or investor, there is a specific number that the bank/investor needs to net in order to proceed with the sale. Unlike a traditional seller, the bank can take weeks to accept or reject an offer. So, if you are in a hurry, you might want to consider other options.
A Gwinnett foreclosure listing can be found in all price ranges and areas. This can be great if you have the time and patience to wait for bank approval. Something else to consider as well is how you want to deal with repairs. Banks will not typically repair the home, so unlike a traditional seller, you will not be able to negotiate for any defects or cosmetic items.
So, if you are interested in learning more about a particular Gwinnett foreclosure listing, 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!