[indijones]

I'm a Canadian looking to buy a home now in Atlanta for me and my family to live in when we'll move there in about a year after becoming family sponsored US permanent residents. I wanted to ask a few questions:

1) Can I buy a foreclosed property there as a Canadian?
2) If yes, do I have to show that it will be my primary residence?
3) Will I be allowed to keep the purchased foreclosed property vacant for a year until I move in?
4) Do I have to pay higher property tax than the local residents? If so, how much higher can it be?

Thanks in advance!

[Fr_Chuck]

1) Can I buy a foreclosed property there as a Canadian?

Yes, if you can pay the price they don't care who buys them.
You will want to look outside the city most likely for the better deals. Prices in the Atlanta area are starting to go back up, but there are still good deals.

Depending the price range and the "status" of living. In general the million dollar homes while being foreclosed in Atlanta are not selling cheap, still a lot of high end buyers.

Also there are lots of landlords buying up homes for rentals, so they are not giving them away either.

Many foreclosures may have been empty for a while and will have repair, but will be sold as is.


2) If yes, do I have to show that it will be my primary residence?
What is your visa status ? That will decide if you have to maintain a residence in Canada or not. Most likely this will be a second home

3) Will I be allowed to keep the purchased foreclosed property vacant for a year until I move in?
The only people who will have issues with it remaining empty will be your property insurance company and you will pay a much higher rate if it is empty ( if you can even get it insured)

4) Do I have to pay higher property tax than the local residents? If so, how much higher can it be?
No, you will pay a rate but not get the homestead exmption so your tax rate will be closer to those or rental property or second homes.

The south area is not as nice but has the best property deals.

For example in the West of Atlanta, I purchased a home a couple years ago, it had been selling for 150,000 a few years earlier I got it for slightly less than 50,000. 3 bedroom, with office on 1/2 acre ( brick home) If that gives you idea of pricing

[indijones]

Thanks Chuck!

[AK lawyer]

....
3) Will I be allowed to keep the purchased foreclosed property vacant for a year until I move in?
The only people who will have issues with it remaining empty will be your property insurance company and you will pay a much higher rate if it is empty ( if you can even get it insured)
...

I work for a law firm which specializes in foreclosures. Sometimes local code enforcement agencies get upset if a property is vacant and not maintained properly, and ask our clients to do something about it. Doesn't code enforcement care about vacant properties in Atlanta?