Frequently Asked Questions

How do I buy a foreclosure home or property?
You must first pre-qualify through one of our preferred lenders, even if you already have a lender. This will come at no additional cost. After you have been pre-qualified, we can write and submit a contract to our client with the pre-qualification letter and seller addendums. Our Buyer Representatives can assist you in doing this.
Can we submit a bid on a foreclosure home property?
No, a standard Georgia contract must be submitted.
Can I make a cash purchase?
Yes, but you must show proof of funds.
How much earnest money is required?
Most banks have a minimum requirement of $1000 upon acceptance. It will need to be certified funds and payable to the listing broker, Bottom Line Home Realty, or the Sellers Attorney. A copy of a check must accompany offers.
Are there any special documents that must be submitted?
Yes. Each bank has specific addendums that must accompany each contract.
Can we use our own closing attorney?
Yes. However, the seller will also have an attorney. It is easier & cheaper if using the seller's closing attorney.
Will the seller do any repairs?
Not usually. The properties are sold as is.
Is renovation funding available?
Yes, renovation loans are available with approved lender.
Can I have an inspection?
In most cases, yes.
Will the utilities be turned on before closing so I can do an inspection?
It depends on the bank. In some cases you will be responsible for turning on the utilities.
Can I get an appraisal on the property?
Values are established based on market analysis and bank requirements. You are free to pay for your own appraisal. In most cases, your lender will require one.
How long does the closing process take?
Normally, it takes 30-45 days to close. However, this does vary due to the fact that some sellers are out of state.
How much will the sellers accept for the homes?
Each home and each bank is different. The only way to find out how much they are willing to take is by writing a contract and submitting it to them. They will not consider any verbal offers.
Are there any special programs for financing available?
Loan programs, grants and tax incentives change regularly. The best way to find out what is available is to contact our office and speak with one of our Buyer Representatives.