Atlanta Luxury Home Auctions, LLC

Atlanta Luxury Home Auctions, LLC The Future of Home Selling. . . Today! Financed
buyers must agree to bring additional “cash to close” if the
lender appraisal is below the sales price.

ONLINE REAL ESTATE AUCTIONS
Seller Advantages:
1) The sale is contingency-free, allowing only “all-cash”
buyers or financed buyers with good/excellent credit who
are relatively certain of mortgage approval. Proof of funds or
mortgage approval letters are required with all offers.
2) Sellers are encouraged to offer only “move-in ready”
properties for sale. A one-year comprehensive home
warranty, pu

rchased by the seller prior to or at closing, is
included with each sale. Properties are sold “as-is” with no
repairs granted by the seller prior to closing.
3) Properties have an unpublished reserve price, agreed upon
between the seller and auction-company prior to the
auction. If the reserve isn’t met during the auction bid
period, the winning bidder is given the opportunity to
negotiate terms with the seller post-auction.
4) Buyers must close within 30 days of the auction end and
the earnest money amount is 1% of the final sales price. Buyer Advantages:
1) Bidding is open so potential buyers can view all bids in real
time on the auction website. Buyers are assured of full
transparency without threat of a “highest and best” blindbidding
scenario.
2) A comprehensive one-year home warranty is offered with all
properties and closing occurs within 30 days of auction
end.
3) Buyers can still exercise due diligence and conduct home
inspections prior to and during the auction. Selling Broker Advantages:
1) Co-op commission structures are comparable to
“traditional” listings and are specified in the local MLS and
listed in the auction terms.
2) Closings occur within 30 days of auction end, allowing for
“faster” commissions and, given the buyer purchase funding
requirements, a higher percentage of buyers that close. Visit “active” online auctions at: www.atlantaluxuryhomeauctions.com

Auctioneer: Gary Brockhoff
GA Auctioneers License #: AU003905

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DEEDS
SECURITY DEEDS
Security deeds are used by lenders to evidence that a loan was made to the borrower and the real property serves as the collateral for the loan. Security deeds are signed by a borrower. These deeds are used in conjunction with a promissory note and recorded in the real property records. In jurisdictions outside of Georgia, these documents are called mortgages or deeds of trust, among other things.

CONVEYANCING DEEDS
Conveyancing deeds transfer title from the grantor (seller) to the grantee (buyer). These are very important documents that affect ownership and the public record. These are signed only by the grantor.

QUITCLAIM DEED
An instrument merely releasing to the grantee without warranty all the right, title or interest of the grantor in the land described is called a quitclaim deed. If properly drawn and executed, it is fully as effective to pass title as a warranty deed. Quit Claim Deeds can also be used to cancel Security Deeds.

LIMITED WARRANTY DEED / SPECIAL WARRANTY DEED
A limited warranty deed is one in which the extent of liability for defective title is cut down by special recitals. The form in common use limits the warranty to the claims of persons holding by, through, or under the grantor.

GENERAL WARRANTY DEED
A warranty deed is one containing covenants of title, usually a general warranty, which includes in itself covenants of a right to sell, of quiet enjoyment, and of freedom from encumbrances.

EXECUTORS DEED
This is the type of deed that is used when there has been an estate and the will has been probated. Upon petition, the court will issue Letters Testamentary that will appoint an Executor. If the power of sale is granted, this will allow the Executor to transfer title on behalf of the estate.

ADMINISTRATOR'S DEED
This type of deed is used when there has been a death but there is no will. Upon petition, the court will appoint an Administrator granting certain powers. If the power of sale is granted, the Administrator can transfer title using an Administrator's Deed.

TRUSTEE'S DEED
This is the type of deed used when the property has been placed in a trust. The deed will reference the trust pointing out which provision grants the power to sell real property and the name of the trustee. If the power of sale is granted in the trust, the Trustee can transfer title using a Trustee's Deed.

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If you're interested in purchasing a home and have limited funds, Access Zero from Loan Depot may be a great option!
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Address

189 Alcovy Court
Tyrone, GA
30223

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