Properties at The Element at Atlantic Station were auctioned by the developer this weekend, and Atlanta condo buyers got some very attractive deals.

One of the best things about any real estate auction is that you get to determine the true market price. But you have to be registered – and ready – to bid on Atlanta condos at any auction. Just like with an Atlanta foreclosure, you need to be ready to seal the deal.

One buyer got a three bedroom townhouse at Element for $257,000. The developer’s original asking price was $400,000.

When you buy a property at auction, you need to have your financing already lined up. You may not get much of an opportunity to inspect the property, and sales are final. However, with a new development, where attractive Atlanta condos are sitting empty because of the market and not because of any problem, your risk is minimal – and your rewards as a buyer are many.

This is not the first time that a developer has resorted to auctions to sell available Atlanta condos. Last year Tribute Lofts auctioned more than 50 condos.

I’ll keep you informed about the latest news on Atlanta condos that benefits buyers. Contact me today to learn more about terrific opportunities with purchasing condos at auction and Atlanta foreclosures.