Investing In Georgia Foreclosures Can Make You Rich
The number of Georgia foreclosures rate in the top ten among the fifty states in the union
. These statistics are compiled from court records by independent economists and analysts who study the real estate market. It is not difficult to see the effects of the banking crisis. It is a natural liquidation cycle where excess debt must be expelled from the economy. Foreclosure is just one symptom of this national financial illness. Georgia is no exception in experiencing increase unemployment, bankruptcy, and foreclosure.
Despite the economy appearing bad right now, there are many financial opportunities caused by the high foreclosure rate in Georgia. For those willing to spend the time and to do their homework, there are many homes on the market that are selling at very cheap prices. In order to profit from these low prices it is crucial to act quickly. These low prices will not last forever.
One approach to finding foreclosure opportunities is to contact the courts. Court records are public records which mean they are available to anyone. Many courts have their records online. You may be able to do your search on the internet from your home.
If you don't have the time to review court records you may want to use a real estate broker who specializes in foreclosed property. They have already done the research. They also have the experience to help you avoid problems in the complex area of real estate investments. Brokers list their services and available properties on the internet. The world wide web along with an experienced broker can be a great tool to assist you in your real estate investment program.
Properties that have delinquent property taxes are potential excellent investments. County clerk and county treasurers have records regarding delinquent property taxes. Some properties can be obtained simply by paying the back taxes. You can contact the property owners yourself and make a deal to buy the property before it goes into foreclosure. This will save the property owner the costs and humiliation of foreclosure.
Place an ad on the internet or in a local newspaper stating that you are looking for pre-foreclosure properties. Set up a cell phone and an email address to be used exclusively for processing the large number of responses you will receive. Arrange a time to inspect the property. Make sure to check the court and government records on the particular property. When you meet with the property owner you will have all the facts in hand and be in a better bargaining position.
It is important to always have an attorney represent you in real estate transactions. Real estate law is complicated. When there are thousands of dollars at sake you can not afford to make a mistake. Always use a good real estate attorney for your own protection.
Georgia foreclosures present a once in a lifetime money making opportunity. This opportunity will not last forever. Already the economy is showing signs of recovery. The recession is already beginning to end and the labor market is slowly improving. The opportunities will dry up once the foreclosure rates begin to fall. The time to make money from this situation is now.