Buying foreclosed Georgia homes that are currently occupied: rules and procedures

Get help from professionals when buying foreclosed Georgia homes that are currently occupied

If you are looking for a bargain on a new home or property investment, foreclosed properties are often a good choice. Buying foreclosed property is relatively easy, but buying Georgia foreclosed homes occupied by the former owner or a tenant requires a few more steps.

Working with a real estate agent who specializes in foreclosed homes is a good way to avoid hassles. These agents know the process and are an excellent resource for other professionals you may need, like a lawyer.

These professionals can help you buy both vacant and occupied foreclosed Georgia homes. You shouldn't ignore occupied homes just because you think they're harder to buy. Truthfully, you may have less competition when buying occupied foreclosed Georgia homes.

If the occupants of your house are the former owners, most will be reasonable and move out. Treat the owners with courtesy and respect if you want them to move out without any drama. If the owner refuses to leave, you'll have to start eviction proceedings. However, if you are buying a rental property and the tenants pay rent on time and are good caretakers, you may want to keep them.

Buying foreclosed Georgia homes occupied by squatters is another matter, so you'll need to be aware of squatters' rights. It's best to hire a lawyer who can explain laws regarding squatters to protect your rights. In some cases, you can call the police or change all the locks to get rid of them. In other situations, you'll need to evict the squatters as you would tenants. There are laws about how to legally evict someone, so you'll need to hire a real estate attorney that specializes in evictions. The lawyer can help you get an order from a magistrate to get the occupants to leave.

You real estate agent or a lawyer should be able to tell you the expenses involved with breaking leases or evicting people from your property. You’ll want to factor those expenses into your purchasing price before you bid on a home or put in an offer.

If you’re looking for a less expensive way to own a house or invest in real estate, buying foreclosed Georgia homes occupied by renters is a good option. Buying a property occupied by other people may not be as great a deal. To look at foreclosed homes and multi-family properties in your area, go to RealtyNow.