![]() ![]() Frequently foreclosures sell for list price, and cash is always king. The key thing to remember is- the longer the foreclosed home sits on the market, the more the banks will be willing to negotiate.Ī lot of times, when a foreclosed home in Charleston is new on the market, there are multiple offers that have been submitted. When the house is new on the market- the banks typically stick to their list price because initially there is a good deal of interest (remember- they initially put the home on the market at 85-90% of market value). ![]() Yes, that means that if the bank-owned foreclosure has only been on the market for a few days and its list price is $250K, you will not be that one exception in Charleston that secures the property for $150K. When the property first comes on the market- they will not be interested in negotiating much, and they certainly won't be accepting any "lowball" offers, being new on the market. They are not in the business of selling real estate, so they want that property sold quickly. Things to Know When Making an Offer on a Bank-Owned HomeĪgain, like mentioned above, the banks typically put a foreclosed home on the market at or near 85-90% of market value to get them off of their books. Take advantage of this market!Īll Charleston Area Foreclosures & Bank Owned PropertyĬlick the links below to sort results by price range. No matter what price range, Charleston foreclosures are seen by many as a perfect way to get into a great neighborhood, at an affordable price. Make sure you read this below on the best strategies for making an offer on a foreclosed bank-owned home! Make sure you do your homework on your potential foreclosure sale! Banks are selling these foreclosures in "as-is" condition, meaning they more than likely have no knowledge to the condition of the property, and make no warranties or guarantees to the condition. ![]() They make for an easy transaction (no waiting times like short sales) and the banks can close quickly if need be. Banks seem to be listing these properties at 85% of market value, to move them. There are some terrific bank owned properties to take advantage of right now in a buyers market. SEARCH CHARLESTON AREA FORECLOSURES RIGHT NOW! (click below)įoreclosures in Charleston, SC are popping up all over the area. ![]()
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