Court House Steps Tomorrow!! HELP! - Posted by Emmett Whitten
Posted by Emmett Whitten on May 03, 2004 at 23:22:05:
I need some URGENT help!
I have located a property that is to be auctioned at the county court house steps in the morning (Tuesday)at 10am. I have the tax assessors report, land and home values. I inspected the house this evening.
My first question is this?
I have not gotten to the point in my readings and knowledge to know about property auctions at the county court houses in GA. What is required? Do I need cash, a cashiers check, or are you given time to acquire the funding? What is the process in GA???
Second, this is a description of the property. I would love some advice about bidding at such an auction!!
This is a Foreclosure Sale at the “steps of the court house”
2387 sq ft
1.78 acres, in an established quiet neighborhood and good school zone
Masonry siding is about 1/3, the rest is brick
Master bedroom w/ master bath and two walkin closets
Great room w/ fireplace (woodburning)
Kitchen and oversized breakfast nook area
Game room w/ upright grand piano (enclosed garage-looks good)
1/2 bath downstairs
Two upstairs bedrooms
Upstairs Study/Game room
Another bonus room over the garage area; access through study
Inground pool w/ rock waterfall
Chain link fence in the rear of acerage for dog/animal
No garage or carport, put could easily add one if necessary.
Needs cleanup inside and out, including pool. No structural damage or water damage noted. Definitly new paint and carpet would help. Yard is overgrown, but could be very nice. Would probably use vinyl siding for exposed masonry siding (only about 1/3 of house)
Tax assessor value as of 2003 - $133,100
Checked comparable home sales in area and all range from $127,000 up to $187,000.
Again, subdivision is well established and home to many affluent citizens of the area.
So, any ideas about bidding price? What is too high to pay, figuring in rehab? Initial exit strategy is to rehab and retail or lease with option to buy, unless someone has a better suggestion!!
PLEASE, PLEASE RESPOND A.S.A.P.
I can acquire the funds without any problem, this just came to my attention at about 6pm today!