boz1911 Posted January 7, 2010 Share Posted January 7, 2010 Back in September I discovered a house with 3 and 1/2 acres had been foreclosed on. This property was cut out out of the 13 acres(approx 17 total) I have owned for 25 years before I bought mine. I have wanted to join the two properties back together for a long time, but it was never feasible financially. Yesterday after 4 months of discussion we finally closed on it. To give you an idea of markets here in Georgia, this property sold for 182k in 2006 and I bought it for 86,700 with the seller paying all the closing costs. I had to put a chunk down but it was worth it. Link to comment Share on other sites More sharing options...
TruStreet Posted January 7, 2010 Share Posted January 7, 2010 So Boz, how many bays to you plan to build? Link to comment Share on other sites More sharing options...
OpenShooterGirl Posted January 7, 2010 Share Posted January 7, 2010 YAY! Guess you finally got the bank to cooperate, though I'm SURE it wasn't the one we talked about at the Mexican restaurant after EAGC a couple months ago. So, when's your Open House party?!? Link to comment Share on other sites More sharing options...
Jadeslade Posted January 7, 2010 Share Posted January 7, 2010 Nice work! Link to comment Share on other sites More sharing options...
XD Niner Posted January 7, 2010 Share Posted January 7, 2010 Congrats!! How painful was it to go through the purchase process for a foreclosed property? Link to comment Share on other sites More sharing options...
boz1911 Posted January 7, 2010 Author Share Posted January 7, 2010 Congrats!! How painful was it to go through the purchase process for a foreclosed property? It was foreclosed on in June. I kinda thought it was so I called a friend who does title work and she faxed me all the details in 5 minutes. It took me two weeks to finally contact the person in charge. After that it has been slow and frustrating. It was with a major bank and I was dealing directly with a VP. Every phone call took a week, or so it seems, to get a response. Still after wanting this property for so long it was well worth the trouble. Some of the big banks have their foreclosed properties on their websites. Some really great deals out there right now. Of course if you need to sell first, that can be an issue. I was fortunate that wasn't the issue for me. Link to comment Share on other sites More sharing options...
boz1911 Posted January 7, 2010 Author Share Posted January 7, 2010 So Boz, how many bays to you plan to build? I already had a practice area, but this does open more possibilties. YAY! Guess you finally got the bank to cooperate, though I'm SURE it wasn't the one we talked about at the Mexican restaurant after EAGC a couple months ago.So, when's your Open House party?!? Th closing attorney did explain some of the delays, but overall, prompt return phone calls would have been a lot nicer...... Link to comment Share on other sites More sharing options...
High Lord Gomer Posted January 7, 2010 Share Posted January 7, 2010 So, when's your Open House party?!? He's not actually going to move in. He's going to retain his current residence and maintain the new place so that travelling BE'ers that find themselves in the Hotlanta area can have a place to stay. Oh yeah, I'll be in Atlanta this weekend...clean sheets, extra towels, and the "special" sauce, please! Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now