FREQUENTLY ASKED FORECLOSURE QUESTIONS
How can I buy a foreclosure property?
You must be prequalified through one of our preferred lenders, even if you already have a preferred lender. The prequalification process does not cost any additional fees. Once we receive your prequalification letter and seller addendums, we are happy to submit an offer to our client for you.
Can we submit a bid on a foreclosure home property?
No, a standard Georgia sale contract must be submitted.
Can I make a cash purchase?
Yes. Please show proof of funds with your offer.
How much earnest money is required?
The earnest money required varies by lender. Earnest money checks should be made payable to Keller Williams Realty. Please include a copy of your check with all offers.
Are there any special documents that must be submitted at the time of offer?
Yes, each financial institution requires addendums to every contract. Please contact us [LINK] to obtain the most current addendums before making your offer.
Can we specify our own closing attorney?
Yes, but the financial institution will require their own closing attorney.
Will seller do any repairs?
No, the properties are available "as is".
Is renovation funding available?
Most approved lenders will have renovation programs available.
Can I have an inspection?
Yes.
Can I get an appraisal on the property?
Most lenders will require an appraisal.
How long does this process take?
The process generally takes 30-60 days to reach the closing table.
