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Outer Banks Foreclosures

Corolla, Duck, Southern Shores Foreclosures  |    |  Kill Devil Hills, Kitty Hawk, Nags Head Foreclosures  |  Hatteras Foreclosures

foreclosures and bank owned propertyAre you interested in buying Outer Banks foreclosures property in Dare and Currituck County?  If you are, you found the right place.  From experience, it helps to know the basic facts and disclosures upfront, and before you make an offer. Just because a property is in a distressed state (Outer Banks short sales) doesn’t mean that the property is a good buy. Flood zones, erosion, insurance costs can change ownership risk and selling prices in a big way. We are experienced in OBX foreclosure and distressed property sales.  We will even hunt the courthouse steps if you have a working relationship with us.

Before you investigate Outer Banks short sales, make sure your expectations are inline.  You can be thrown off quickly if you don’t know what to expect.  Short sales can be source for deals in today’s market, but patience and understanding of the process, will lead to a successful closing. A “buyer’s agent” helps a buyer preview property, negotiate, run CMA’s, coordinate your closing, and prepare offers & other paperwork. By using Property Alerts you’ll be able to get all the new foreclosures/short sales the minute they hits the MLS!

Have you ever bought a bank owned and short sale before?  If so, make sure you understand the basics before entertaining the idea. Making offers on bank owned and distressed property can be drastically different than making an offer on a property that isn’t. Many times the banks do not disclose anything about the property; zero!  The ball is kicked to you.  In this case, the buyer is to discover any all any facts about the property.

Foreclosure Language Example:

Here’s an example of the type of language one can find in a foreclosure listing, maybe you have heard it before. “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 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.

Corolla - Duck - Southern Shores - Kitty Hawk - Kill Devil Hills - Nags Head - Manteo / Roanoke - Hatteras Island

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