Phone: (478) 960-8055    |    Office: (478) 953-8595 x227    |    Email: anita@cbssk.com    |    Address: 470 S Houston Lake Rd • Warner Robins • GA 31088

Foreclosures for Sale in Warner Robins

Foreclosure Homes are those in which the bank has repossessed the property because the homeowner was defaulting on his/her mortgage payments. Foreclosures for sale in Warner Robins will not be placed for sale and listed on the market until the entire foreclosure process has been completed. At this point, the individual bank will list the home in what is called a Multiple Listing Service (MLS). However, some Realtors® may already be aware of several of these types of properties in advance of them being listed in the MLS simply because the entire foreclosure process consists of five different stages.

Missed Mortgage Payments

The foreclosure process starts with missed mortgage payments by the homeowner. Many times there is a hardship (death, loss of job, divorce, surgery, etc.) and other times the homeowner decides to “let the home go” because they owe more than the property is worth. In any case, the homeowner is failing to meet the loan terms.

Public Notice

After 3-6 missed payments, the lender will record a Notice of Default (public notice) with the County Recorders Office. The notice states that the borrower has defaulted on his/her mortgage and it is typically placed on the front door (or in a window) of the home. The public notice lets the homeowner know they are in danger of losing the property and could face eviction.

Pre-Foreclosure

This occurs after the bank has already notified the homeowners that they are in default of the mortgage loan agreement. The lending institution will allow the owners a period of about 60 to 90 days in order to either catch up on the payments, acquire a refinancing of the loan, or attempt to sell these potential foreclosure homes as a “short sale”.

Foreclosure Auctions

If the homeowner is unable to remedy the situation in the predetermined amount of time, then the bank will schedule an auction in an attempt to sell the house “as-is”. This means that these foreclosures for sale in Warner Robins can be sold to the highest bidder regardless of the current state of the home. Even then, should the homeowner be able to come up with the money in order to settle the debt, the bank will likely cancel the auction process altogether.

Bank-Owned Homes

When all of the previous options have failed, and the foreclosure homes have not been successfully sold at auction, then the bank will pay off the lienholders of these residences through their own privately funded mortgage insurance. At this point, the bank becomes the owner of the home and takes a financial loss on the investment property. A bank-owned property can also be called by another name, an REO, which means “real estate owned”. At this point, the bank may hire a real estate agent to list the foreclosures for sale in Warner Robins in a local MLS.

Foreclosure Advantages and Disadvantages

If you are a veteran who is hoping to use the VA Loan Program to purchase one of these foreclosure homes, there are a few factors to take into consideration first. Many of these types of properties have very often seen better days. The homeowners have left them in a state of disrepair, perhaps even vandalizing the property or taking kitchen appliances and bathroom fixtures with them in the process of relocating. This may make the appraisal process rather difficult. For this reason, it is highly recommended for you to invest in a professional home inspector to thoroughly review the structure and integrity of the home. The cost of this inspection typically costs between $250-$400.

Foreclosures for sale in Warner Robins can also be a great way to get a valuable property at a much reduced price. Once these homes have become bank-owned, you will be surprised to learn that the banks have no desire to be in the real estate business. They simply want to unload the property as quickly as possible in order to get it off their books. The purchasing of foreclosure homes can often be a great way to get more for your money and a larger or more spacious dream home in the process.

For more information about Foreclosures for Sale in Warner Robins or REO properties anywhere in Houston County GA, call me at (478) 960-8055.

Additional Foreclosure Resources




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Anita Clark Realtor

470 S Houston Lake Rd
Warner Robins, GA 31088

(478) 960-8055

Coldwell Banker SSK Realtors

(478) 953-8595

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