Should You Buy an Atlanta Foreclosure? Here’s What You Need to Know

Atlanta foreclosure home purchase

Buying a foreclosure can have many benefits, but it is very important that you understand the full process before you make the decision that a foreclosure is right for you. The process to buy a home that is in foreclosure takes a little more time and there are a few extra steps that need to happen before the home is yours.

What is a Foreclosure?

A foreclosed home is one that is owned by a bank, because the property was turned back over to the mortgage holder when the homeowner was unable to make payments on their home. Foreclosures became much more common during the economic uncertainty that has occurred in the past, opening many opportunities for people who are interested in purchasing a home at a discounted price. If you are interested in buying an Atlanta foreclosure, then you need to make sure that you are working with a trusted real estate agent in Atlanta who is familiar with the area and can help you with the buying process.

Quality of Foreclosed Homes

When you are buying a foreclosure, it is important to understand that it might take some time to find the right deal. Additionally, there is a higher possibility that you might need to do some renovations or repair work because the home wasn’t left in a good condition. Sometimes, homeowners are upset because they are being evicted, so they don’t take the time to clean the house when they leave. There is also the possibility of vandalism or damage. The advantage of buying a foreclosed home from the bank, instead of directly from the home owner, is that you have the opportunity to inspect the home before the purchase. You can see the quality of the exterior and interior to estimate how much you will need to pay for repairs.

Are Home Auctions a Good Idea?

Some people are interested in the process of buying foreclosed homes through real estate auctions. But, the truth is that these auctions are much more risky, because there are certain problems that you might be facing. For example, you don’t have the opportunity to inspect the home before making the purchase, so you don’t know how much damage will need to be repaired. Another problem with auction purchases is the potential of senior liens that will need to be paid, such as outstanding taxes on the property. If these liens are present, then you will be stuck with the bill which might increase your out-of-pocket expenses significantly.

Good Opportunities, But Proceed with Caution

There are many good opportunities available if you are interested in buying foreclosed properties, but it is important that you don’t rush the process. Make sure to use caution before you choose the home that you would like to buy, and be sure that you have an experienced real estate agent by your side every step of the way. At Duffy Realty of Atlanta, we have experience with all types of home purchases, including foreclosures in Atlanta. Contact us for more information about how we can help: (678) 318-1700

Not Enough Space for Great Review

Not Enough Space for Great Review

I was attracted to Duffy when examining different agencies online because of their buyer education program. While this is not my first house, I already had an idea of what I wanted but definitely was low on my price range. All homes I looked at were foreclosures and learned very quickly that Masonite siding is everywhere and most in need of repair. I decided on a home based on location in a very nice neighborhood. Paid $25k more than I had anticipated in the beginning (Alpharetta is an expensive community) and an additional $15k in repairs. But it feels homey and is just the right size. Robert was always reachable, on time, and followed through on everything he promised. He also taught me a lot about how to examine a house in great detail.

The only downside to Duffy is the tiny box they provide for this review.

Richard Spencer


Metro Atlanta has spoken and Duffy Realty is 92% referred to friends and family for our $500.00 flat fee listing to sell a home that lasts until SOLD, now 8 years in a row. Over 1 Billion Dollars saved in Listing Fees and Over 14,000 listings has reigned Rhonda Duffy, top agent in Atlanta and the #1 Agent in Georgia and #6 in the U.S. for 6 years in a row! Browse the site and you will see many success stories of loyal Duffy clients and how they sold their home and saved a lot of money in the process. Visit or call 678-366-7846

Atlanta Short Sales Seeing Success

Atlanta Short Sales Seeing Success – There is No Reason to Foreclose

Atlanta, Georgia / / January 30, 2012 — Atlanta based Short Sale Real Estate Expert, Rhonda Duffy is seeing huge success with short sales and lenders saying “Yes, Sell It”! This means that there is absolutely no reason for anyone to foreclose on their property and take a 7-year beating on their credit! If a homeowner has a hardship there is a good chance that their lender wants to help the homeowner who is in mortgage default if the homeowner is willing to stay put and find a buyer for the home. It appears that lenders do not want foreclosures on their books.

“There is a real sense of urgency now with these lenders” says Rhonda Duffy, owner and broker of Duffy Realty of Atlanta and now ranked #1 Short Sale Specialist in Georgia according the MLS. “No one wins with a foreclosure, and certainly not the homeowner. They get penalized with their credit score, potential harm with future and current employers pulling their credit, insurance carriers pulling their credit for insurance purposes, and everyone knows that all creditors charge more in interest to someone with bad credit. And worst, homeowners report that the collection agencies make life almost unbearable at time as they attempt to collect the deficiency judgement.

If a homeowner is behind in their mortgage and facing foreclosure due to a circumstance that has happened to them, the lenders are prepared to help. That is the good news. The bad news is that they won’t wait long for a homeowner to take the help. There is a short window for success with a short sale and the more time that a homeowner has to do a short sale, the better the outcome. Again, there is simply no reason, especially in a fast moving market like Atlanta Georgia to risk a foreclosure.

For more information on how to do a Short Sale, visit Duffy Realty of Atlanta’s short sale and mortgage default page.


Metro Atlanta has spoken and Duffy Realty is 92% referred to friends and family for our $500.00 flat fee listing to sell a home that lasts until SOLD, now 8 years in a row. Over 1 Billion Dollars saved in Listing Fees and Over 14,000 listings has reigned Rhonda Duffy, top agent in Atlanta and the #1 Agent in Georgia and #6 in the U.S. for 6 years in a row! Browse the site and you will see many success stories of loyal Duffy clients and how they sold their home and saved a lot of money in the process. Visit or call 678-366-7846

Warning Signs That You Need To Do A Short Sale

If you are experiencing a period of time where you can’t pay your mortgage payment or you are short but are sending in your payments, you may need to do a short sale. After a couple of months of non-payment or short pay, you will find that the penalties accumulate to a point of no return as expressed by many homeowners in your same situation.

Other signs include that you regret the purchase of the property and feel that the property will never be the same value that you paid for it. Some homeowners state that they feel the need to sell when their neighbors start doing short sales and they see foreclosures. Some neighborhoods have been 90% short sale and foreclosures leaving the few homeowners that don’t want to short sale or foreclose feeling no relief.

Some homeowners can forecast that they will have to short sale or foreclose when they loose their job, get a divorce or experience a loss of an immediate family member. Others have renters move out after months of non-payment and they just can’t recover. Some homeowners are not even behind in their mortgage payment when they decide to pursue a short sale and some banks are okay with that and appreciate that the anticipation will save the bank and the homeowner headaches and unnecessary costs.

The solution is to actively find a buyer for the property and present both the buyer and your situation to your lender. An active short sale agent that is a short sale expert can help you greatly when the goal is to remove the property and the debt from your name. The key to a short sale is to act quickly, precisely and keep your eye on the prize as you patiently wait for everything to fall into place.

For more information on short sales, visit Rhonda Duffy is the ONLY Elite CDRS Short Sale Specialist in Georgia and she works on short sales and short sale problems everyday with her team.

Duffy Realty Provided Valuable Home-Buying Education

Thank you for your assistance in the search and purchase of our new home. We thought the foreclosure market would make home buying easy. But we were very wrong. Other realtors we used before calling Duffy were not knowledgable of the different types of sales out there right now. As we made offers on several houses and learned of the hurdles with short sales, foreclosures etc. we became very frustrated. Upon calling Duffy Realty, it was apparent from the start that their agents are trained to guide their buyers in the current market of non traditional buying with great knowledge. You did just that. You were very fast to respond to my requests and inquiries. You didn’t hesitate to get the necessary info for the houses we looked at. With that mindset, you were able to make the sale. Thank you again and it was a pleasure working with you.

Ferron Green and Maribeth Matthews

Eeek. My Home Is Going to Auction Next Week. What Can I Do?

Via Melissa Zavala Realtor® North San Diego County Homes

The question about what a borrower can do in order to avoid foreclosure is one that people ask me all the time—maybe even twice daily. Lucky for many of us, tomorrow, (New Year’s Eve), there are no foreclosures as city and county public offices in many areas are closed. Many borrowers contact me when they are just a day or two away from foreclosure. And, before you read any further, please be aware that if you want to avoid foreclosure, it is very risky to wait until the foreclosure date is looming to address your options.

The most common type of call that I have received in the last few weeks is from borrowers who just learned that they were declined for a loan modification. It seems that certain lending institutions are setting foreclosure dates in the very near future for individuals who have been formally declined for a loan modification. Borrowers are frustrated because they have left ‘short sale’ as an option, but with a foreclosure just around the corner, a short sale is tough to manage when they learn that the loan modification has been denied at the last minute.

In order for a mortgage lender to possibly consider a short sale, a full short sale package (with an offer and a listing agreement) must be at the bank and in process. Generally, it takes a little while to pull all this information together. First, a borrower would need to list his or her home for sale. Then, an offer would need to be obtained and executed. Then, this stuff (and the rest of the short sale package) needs to be sent to the bank.

For most of the major lending institutions, the package is faxed to the bank. These faxes take a few days to process. So, if a short sale package were to be sent to the bank today, it may not even get where it needs to go until Wednesday of next week (or later).

The good news is that if you hire a qualified Realtor® who is experienced with short sales, there is a good chance that this individual can help you to get your short sale approved. But, to make it easier on all parties, try your best not to avoid waiting until it’s too late.

Buyers – Want to Get Paid For Searching Online?

We know what buyers want! We have listed to thousands of buyers and thousands of buyers have told us that they search online and want to be paid for their time with a reduced commission paid to the agent by the seller. Sellers can’t pay the buyer but we can! Calling all buyers!

One of the most unique features of using Duffy Realty as your buyer’s agent when you buy a Metro Atlanta home is that we pay our clients for searching online – cash at closing!

We find that you are doing the work anyway so this eliminates us having to do it for you. Our buyers report that they search the MLS online to find homes, foreclosures, HUD properties, VA properties and for sale by owner properties. Then, after they find something that they like, they search for tax records and mortgage information for the property.

When you do some of the work that we used to do, we can work with more clients and thus we feel that we should pay you for your time.

So, please take a few minutes to learn about how we pay you for searching for homes that you want to see.

Learn more about getting CASH AT CLOSING >>


Hire Rhonda Now to Support You In The Process of Buying at No Charge To You

List and Buy Your Home With The Most Powerful* Real Estate Agent in Georgia – Rhonda Duffy
*Powerful equals number of listings, sales, experience, years of consistency, consumer advocacy, and common sense. Rhonda Duffy is a full time + real estate agent, weekly radio personality, T.V. real estate expert and published author. She has sold and bought over 11,000 homes for her clients in the last 8 years alone and has been ranked the #1 agent in Georgia – 6 years in a row, #6 in the U.S. Rhonda and her team expect to successfully help thousands of clients every year and they have a proven process to do just that.

Homebuyers: The “Perfect Storm” is upon you!!

Whether you’re an aspiring homeowner, or a current homeowner thinking of purchasing a different home, January 2010 is giving a whole new meaning to the term “perfect storm”.
Here are some great reasons to find a new home after the new year:
Continue reading

You can’t retire by scanning Google.

Only recently have personal savings levels risen, where just a short while ago they were the lowest since the Great Depression when unemployment was more than 25%. (USA Today) Why is this happening?

I have a theory, and it boils down to the fact that people in the X and Y generation just don’t read anymore. Remember when you were a kid and had to take those tests where you read a short story, and then had to answer a bunch of multiple choice questions around the story? I didn’t fare so well on those tests, but if people had to take them today based upon what they think they learned on the internet . . . surely we would be a failing class.

Continue reading

Banks Yanking Homeowners Last Hope-Short Sales

(Newser) – As banks get healthier, they’re getting stingier with one of the few remaining lifelines for underwater homeowners—short sales. To keep home sales moving in leaner times—and to get bad loans off their ledgers—lenders would forgive the difference between the outstanding mortgage balance and the purchase price. Such deals are harder to come by these days, a development that could spell trouble for the nascent housing recovery, writes Christopher Palmeri in BusinessWeek.

“With profits improving and access to capital loosening, lenders can afford to play hardball,” writes Palmeri. But the strategy may hurt. Short sales have been pivotal, accounting for about 15% of home sales in the nation this year and twice that figure in hard-hit cities. Meanwhile, a record one-third of homeowners owe more than their home is worth, a figure expected to rise because values are still dropping. Without short sales, expect more foreclosures, which in turn feed the cycle of depressed prices.

—John Johnson