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Greenville SC Foreclosure Search

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Buying Distressed or Foreclosed Properties 

Distressed properties are where to go if you are looking to invest or do a "flip." Probably the biggest reason to purchase a property in foreclosure or a short sale is the allure of getting a 'deal.'  Discounts often can range from 20 to 30 percent off on a short sale or foreclosure compared to a sales price of a nondistressed home. But despite the big bargains, buyers really need to take certain things into consideration before make that move. Consider some of the following tips when searching for that next great 'deal.'

  • Primary residence purchases or beginners may want to stick with REOs. New buyers may want to avoid short sales, which often involve months of negotiations and can sometimes end in forclosure auctions that require all cash purchases. In contrast, REOs can be about the same as going through a triditional home purchase, can lead to much less stress and have a happier ending. Since the bank has no emotional attachment to the property, their main objective is to lose the inventory as quickly as possible with the least amount of monetary loss as they can get.

 

  • Inspect, inspect, inspect! Almost all distressed properties are sold “as is” and many can come with some costly problems if buyers aren’t careful. Your real estate consultant should always recommend having a home inspection prior to close. Buyers will then know any potential problems associated with the home, along with an idea of what these issues might cost to repair. Even though the bank won't want to do any repairs uncovered during the inspection process, thus re-iterating the "as is" sale, the buyer can sometimes use this information to negotiate a lower price.

 

  • Want to "flip" the home right away. One of the more important things for buyers to remember is that markets change from year to year and that will dictate when to expect a return on your investment. Just consider this an opportunity to get in on the ground floor with an investment that you can buy low now and hopefully sell high one day!

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To refine your foreclosure property search, choose the advanced search option and the foreclosure tab will then let you pick more options for your search.

Latest Foreclosure listings

171 A B Frye Road, Lexington image
171 A B Frye Road, Lexington $96,100 ▼

AUCTION. Cozy bungalow sits on over 3 acres, and offers the perfect opportunity to create your dream space. Imagine country living in rural Lexington with ample room to e...

  • 3 Beds
  • 2 Baths
106 Club Cove Way, Sunset image
106 Club Cove Way, Sunset $92,500 ▲

Tom Fazio designed Vineyards golf course home site! Enjoy sweeping views of the #9 fairway looking in both directions – tee and green. This large, private, 1.53 ac home...

  • 0 Baths
125 Cottage Side Trail, Travelers Rest image
125 Cottage Side Trail, Travelers Rest $35,000 ▼

Nestled in the mountains just minutes from Greenville, SC, make yourself at home in the comfort and convenience of The Cliffs Valley gated golf and wellness community. Sp...

  • 0 Baths
11 Misty Hollow Trail, Travelers Rest image
11 Misty Hollow Trail, Travelers Rest $65,000 ▼

Nestled in the mountains just minutes from Greenville, SC, make yourself at home in the comfort and convenience of The Cliffs Valley gated golf and wellness community. Fa...

  • 0 Baths

The Listings data contained on this website comes from various participants of The Multiple Listing Service of Greenville, SC, Inc. Internet Data Exchange. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed. © 2022 Greater Greenville Association of REALTORS®. All Rights Reserved. Last Updated

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J. J. Bowers-Real Estate Consultant

Real Estate Buyers Guide

 

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J. J. Bowers, Inc.

RE/MAX Realty Professionals

600 Independence Blvd.

Greenville, S.C. 29615

864-483-6172

jjbowersinc@gmail.com

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