Outer Banks Foreclosures - Short Sales

Foreclosures, short sales,  distressed property, and bank owned properties - Outer Banks North Carolina MLS Listings.

Residential   >>>>   Browse all Foreclosures and Bank Owned Property     Residential   >>>>   Browse all Short Sales and Distressed Property  def.    Land / Lots    >>>>   Browse Land Foreclosures - Distressed Vacant Lots

IF YOU'RE BEHIND ON MORTGAGE PAYMENTS...Click Here! If you are considering the possibilities buying Outer Banks NC foreclosure properties in are and Currituck County, you better know what your are doing. Just because a property is in a distressed state doesn't mean that the property is a good buy from the bank.  Many properties have been "tapped" of their equity back when the market was still strong. The banks sometimes are looking for more than what properties are currently worth. If you are investigating short sales, make sure you are working with someone that has closed a number of them! Your expectations can be thrown off quickly if you don't know what to expect.   It doesn't cost you anything to use a Realtor to help you negotiate, run CMA's, coordinate your closing, and prepare offers & other paperwork related to foreclosure property on the MLS.   Use Property Alerts & get all the new foreclosures / short sales the minute it hits the MLS!          

3944

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The link above are the Outer Banks (OBX) NC foreclosures in Dare and Currituck Counties on the Outer Banks of North Carolina. Please CONTACT ME for additional information on any of these properties. If you send me an email requesting new foreclosures, pre-foreclosures, or short sale listings, I will send you new listings as they are published.   Short sales available from the MLS.

If you have never bought a foreclosure / short sale before, make sure you understand the basics, before you even entertain the idea.  Making offers on bank owned/ distressed property is drastically different than making an offer on property using standard North Carolina forms.  Many times, the banks do not disclose much of anything about the property, and leave it up the the buyer and buyer's agent to discover any all any facts about the property.

Here's an example of the type of language, one can find in a foreclosure listing. "Pre-approval or Proof of Funds letter MUST be attached to Offer. Earnest Money must be certified funds and held with the listing firm. Sellers Addendums come after an accepted offer. Often Buyers must use sellers attorney for closing and are often required to pay the transfer tax. Home is being sold AS IS - SPECIAL WARRANTY DEED. Pre approval required before making an offer. Buyer may be required to use seller's attorney and pay transfer tax. This is common, and many times the agent has no control over what the bank is willing to disclose.  The lenders have their guidelines in how they sell the properties they take back from their borrowers.  It is very important that the proper path of investigation is taken in discovering all the facts about the property.  Your real estate attorney (required by NC law) will make sure that you understand the position property's title and  if there are any liens/encumbrances on it. Contact Me