After months of looking at homes in the Alpharetta and Johns Creek areas, our clients looked at a Fannie Mae foreclosure in Kimball Bridge Crossing off of Kimball Bridge Road in Alpharetta, and fell in love with the floor plan. The problem was that it needed a lot of work.
This Fannie Mae property had been under contract previously, but was terminated due to the buyer becoming aware of the amount of worked required after going under contract. Once it returned to the market there were multiple offers received, and my client elected to make an offer above list price and was awarded a contract on the property.
As we entered the Due Diligence period it became extremely important to estimate the cost of the improvements and the affect the