The seller has properties heading to foreclosure.

Free Atlanta Foreclosure List1. 2858 Browns Mill Rd SE, Atlanta, Ga. 30354.2 or 3 BR/ 1 BA / house + 2 lots / ARV: house:$120k + lots 2x $50ea = $220k Purchase $140 / fixup house $30k.

Foreclosures are up all over the nation and I believe that people will own so much money on these homes/multi familys etc.. that when they go up for auction, they won't be a deal because they simply won't be worth it because of the huge loans on them.

So after doing my homework, placing ads,etc, I finally got a call from a lady in foreclosure.

We called for a walk thru to see the inside of the house, and the price they were asking was too much and for our first house we werent trying to take the foreclosure route, at least not with that many repairs to be done.

M/H loan is Assumable w/ Qualifying or a Transfer of Equity deal.M/H owner prefers to sell but will do a L/O or whatever it'll take to get out of this foreclosure.

You can try to contact the owner once foreclosure process is started and buy him out before it gets to the steps but in most cases you need to be looking for property owners who's note that are foreclosing are atleast 5 years old to have any hope of them having enough equity to make a deal profitable.

Market to investors - GA has a huge foreclosure rate as well and our investors are living it up....The market will turn around - market to investors find tenants for those homes.

Because of this, the property is likely to go into foreclosure.- If the property goes into forclosure, the new buyer of the property must pay off the total of the lien, including any accrued interest and fees.

For those of you who get into rehabs, how often do you buy properties at foreclosure auctions?