The DeKalb County Commissioners recently approved a foreclosed home registry for the county in July of 2010 and is set to take effect on October 27th. What does this mean for real estate agents in DeKalb County that list and sell foreclosures? There are several provisions of this new ordinance.
1) The first of which is ALL homes and commercial buildings in unincorporated DeKalb County that are foreclosed after October 27th must be registered with the county at a cost of $175 that is nonrefundable within 30 calendar days following the sale.
2) If the mortgagees or creditors are located outside of Clayton, DeKalb, Fulton, Gwinnett, Henry and Rockdale counties al local property agent is REQUIRED to be named on the registration. This agent must have the ability to authorize access to law enforcement, provide security and ensure the home meets DeKalb County codes (i.e. maintained lawns, secure, ect)
If these things are not done the mortgagor can be fined $1000 per day, per real property, up to $100,000 in a calendar year. And let’s be honest, the county will come after the low hanging fruit, that means you as the real estate agent whose name is on the registration!
I have found the best resources for this is the below links especially the county’s FAQs. There are addresses you will need, links to download the actual forms, links to determine if the property is in fact in unincorporated DeKalb County. Please make yourselves aware of these issues.
This is to “protect neighborhoods from becoming blighted through the lack of adequate maintenance and security as s result of properties that are foreclosed” according to the county. To be perfectly honest it would seem to be more about revenue for cash strapped municipalities using code violations to generate revenue. While I cannot deny that there are some homes out there that have been neglected and those should be fined. The vast majorities of qualified agents inspect their inventory on a regular basis, have the lawns maintained and ensure that the properties are secure. If you as an agent can continue to do these things there should not be any issues other than registering with the county.
For printable PDF of the Ordinance click the link below: http://www.co.dekalb.ga.us/conniestokes/pdf/2010_07_27_ForeclosureRegistryOrdinance.pdf
For the DeKalb County Web site synapses:http://www.co.dekalb.ga.us/foreclosureregistry/index.html
Follow us on Twitter @1reobroker
