subscribe to our rss feeds

Foreclosures and Shortsales

The Housing Vice Charleston Homes in Foreclosure and Shortsale Status

Foreclosures and Short Sales in the Charleston Area

SC Property Pros are fully equipped and ready to help you with finding a foreclosure or short sale in the greater Charleston Area.  Call us and ask about receiving Your FREE list of Short Sales and Foreclosures in the Lowcountry!!  843-296-5006

How Do Foreclosures Work?

In today's real estate market, home buyers who are hunting a good deal in real estate almost always think about pursuing foreclosures first. These buyers have a mental picture of a quaint little house, with the quintessential "white picket fence" that is currently owned by a widow or widower who recently fell on hard times. Unfortunately that scenario is in general quite far from reality. When you purchase a foreclosed home, you're cashing in on a property which someone was no longer able to pay for. Foreclosures are anything but easy- they are difficult both to locate and to execute the transactions in a timely manner. Nevertheless, the potential to turn a foreclosure over for a hefty profit may still be there-you just have to either know what you are doing or work with someone who does.   Let's look a little deeper at a Foreclosure-the reality version:

Why Do Sellers Go Into Foreclosure?

Sellers go into foreclosure when they stop making payments for any number of reasons. News Flash-Very few actually choose to go into foreclosure voluntarily. With that said, it's often an unpredictable result from one or more of the following snowballing affects:

  • Arguments which can't be resolved with co-owner, ie. divorce
  • Some member of household's job is transferred to another state
  • Owner of Property gets Laid-off, fired or just quits their job
  • Accident causing inability to work or medical conditions
  • Mountains of debt and further mounting bill obligations

Some Helpful Foreclosure Tips to Chew On

As I said before, foreclosures are never easy. Here are a few things to keep in mind:

There will inevitably be more paperwork involved than any other type of conventional real estate deal, especially if the government is involved.

If the seller will allow you to have the property inspected, do so as soon as time permits. Some sellers may actually include this as a part of the sales agreement, but in the end, the buyer still pays for it.

Always check to see if there are any existing liens on the property because if there are-Guess What?-you are buying those too.  At times, there will be liens due to unpaid property taxes.  Make sure you get in writing who will be liable for those debts.

Is the foreclosure in a desirable or less than desirable neighborhood? Have us run you some comparables in the area and check whether or not the property purchase is in fact a good deal.

What kind of shape is the property in? Keep in mind that some foreclosures,unlike so called "fixer-uppers"can be found in fairly descent shape. Others however may be behind in maintenance. Remember just because a person finds themselves unable to pay a mortgage, doesn't always mean that they are neglectful.


89  Beaufain Street Charleston, SC 29401

89 Beaufain Street
Charleston, SC 29401
Harleston village
Residential

MLS# 1127276 /
5 br, 5 ba, 2 half bath, 6222 sqft

Two houses--the william steel house, circa 1815 and guest house built in 2005. neo-classical main house has been totally renovated and is classi... 

$1,995,000
Provided courtesy of Carriage Properties LLC
90  Ashley Avenue Charleston, SC 29401

90 Ashley Avenue
Charleston, SC 29401
Harleston village
Residential

MLS# 14027976 /
6 br, 3 ba, 1 half bath, 5245 sqft

This historic charleston home was built in 1838 and sits on nearly 1/3 acres of meticulously manicured gardens and grounds. the front was rebuilt i... 

$1,900,000
Provided courtesy of Re/Max Elite LLC
1655  Atlantic Avenue Sullivans Island, SC 29482

1655 Atlantic Avenue
Sullivans Island, SC 29482
Sullivans island
Residential

MLS# 1419831 /
5 br, 3 ba, 3 half bath, 5844 sqft

This three-story, oceanfront home with stunning architectural design has fallen on hard times and is ready for its new steward. exceptional opportu... 

$1,849,000
Reduced -$50,000
Provided courtesy of Carolina One Real Estate
61  Tradd Street Charleston, SC 29401

61 Tradd Street
Charleston, SC 29401
South of broad
Residential

MLS# 1426236 /
5 br, 3 ba, 4000 sqft

This is a rare opportunity to purchase a handsome and very distinguished 18th century masonry home in the heart of downtown charleston. a true hist... 

$1,595,000
Provided courtesy of Daniel Ravenel Sotheby's International Realty
224  King George Street Charleston, SC 29492

224 King George Street
Charleston, SC 29492
Daniel island park
Residential

MLS# 15001968 /
5 br, 3 ba, 1 half bath, 3718 sqft

-located in daniel island park on a peaceful tree-lined street sits this beautiful home offering an interior with exquisite designer appointments, ... 

$994,900
Provided courtesy of Daniel Island Real Estate Co Inc
1676  Marsh Harbor Lane Mount Pleasant, SC 29464

1676 Marsh Harbor Lane
Mount Pleasant, SC 29464
Marsh harbor
Residential

MLS# 1426839 /
3 br, 4 ba, 2836 sqft

Beautiful waterfront property in mt. pleasant, one mile away from sullivan's island. view of the historical ben sawyer bridge and the intercostal w... 

$899,900
Provided courtesy of Carolina One Real Estate
212  Royal Assembly Drive Charleston, SC 29492

212 Royal Assembly Drive
Charleston, SC 29492
Beresford hall
Residential

MLS# 1411570 /
5 br, 5 ba, 1 half bath, 4246 sqft

Back on the market with an approved short sale price! southern elegance at its finest! this gorgeous 5 bedroom 5.1 bath home is ready for a new fam... 

$765,000
Provided courtesy of Charleston Homes
1408  Burningtree Road Charleston, SC 29412

1408 Burningtree Road
Charleston, SC 29412
Country club ii
Residential

MLS# 14029830 /
4 br, 3 ba, 1 half bath, 3520 sqft

Grand two story traditional with charleston brick exterior. great location in country club ii subdivision. this home was completely renovated with... 

$680,000
Reduced -$30,000
Provided courtesy of Carolina One Real Estate
719  Windward Road Charleston, SC 29412

719 Windward Road
Charleston, SC 29412
Lighthouse point
Residential

MLS# 15001377 /
5 br, 4 ba, 4430 sqft

*** recently listed *** gorgeous home on gorgeous waterfront lot in what may be the hottest zip code in our mls, 29412 *** welcome to 719 windward ... 

$659,900
Provided courtesy of Fred Holland Realty
3814  Waldon Road Ravenel, SC 29470

3814 Waldon Road
Ravenel, SC 29470
Rantowles shores
Residential

MLS# 15002189 /
3 br, 3 ba, 2291 sqft

Welcome to the perfect home on rantowle's creek (13' @ low tide) w/dock & floater. bring your crab pots & shrimp net to enjoy the creeks bounty! ju... 

$585,000
Provided courtesy of Carolina One Real Estate
4180  Legacy Lane Meggett, SC 29449

4180 Legacy Lane
Meggett, SC 29449
Meggett
Residential

MLS# 14030199 /
3 br, 3 ba, 2251 sqft

Deep water .. private dock .. full front porch .. 2-stry vltd great rm w/wet bar/built-ins/fireplace .. oak flrs .. dining area .. eat-in kit w/cor... 

$499,000
Reduced -$16,000
Provided courtesy of Carolina One Real Estate
3334  Porchview Place Johns Island, SC 29455

3334 Porchview Place
Johns Island, SC 29455
The villages in st johns woods
Residential

MLS# 1309536 /
4 br, 2 ba, 1 half bath, 2503 sqft

Beautiful home in the villages in st johns woods located on one of the larger lots on the horseshoe across from the 3/4 acre park with gazebo. h... 

$425,000
Provided courtesy of Keller Williams Realty Charleston West Ashley
704 E Arctic Avenue Folly Beach, SC 29439

704 E Arctic Avenue
Folly Beach, SC 29439
Folly beach
Residential

MLS# 15001474 /
4 br, 2 ba, 2192 sqft

 

$424,900
Provided courtesy of Fred Holland Realty
98 W 2Nd Street Folly Beach, SC 29439

98 W 2Nd Street
Folly Beach, SC 29439
Waters edge
Residential

MLS# 14031821 /
3 br, 3 ba, 1738 sqft

Outstanding location for a beach-area condo. just a few blocks from the beach but this unit opens at rear to a panoramic view of the folly river a... 

$419,900
Reduced -$22,100
Provided courtesy of Carolina One Real Estate
4292  Cloudmont Drive Hollywood, SC 29449

4292 Cloudmont Drive
Hollywood, SC 29449
The hamlet
Residential

MLS# 1419955 /
3 br, 2 ba, 1 half bath, 2528 sqft

Priced as a short sale price without the hassle. motivated seller and priced to sell at 419,500. welcome to 4292 cloudmont, a nature lover's parad... 

$419,500
Reduced -$15,000
Provided courtesy of Dunes Properties of Chas Inc
1564  Longview Road Mount Pleasant, SC 29464

1564 Longview Road
Mount Pleasant, SC 29464
Candlewood
Residential

MLS# 14027123 /
5 br, 3 ba, 1 half bath, 3801 sqft

Location! great opportunity to buy a large home with many custom features located in the heart of mount pleasant. this home features 5 bedrooms (ma... 

$414,900
Reduced -$30,100
Provided courtesy of Biggers Real Estate, Inc.
3002  White Heron Lane Charleston, SC 29414

3002 White Heron Lane
Charleston, SC 29414
Croghan landing
Residential

MLS# 15001338 /
4 br, 4 ba, 1 half bath, 4416 sqft

Great opportunity in croghan landing, just minutes from downtown charleston. as you enter this home you are immediately greeted by large open flowi... 

$411,600
Provided courtesy of Oswald-White & Associates Inc.
8170  Natty Road Edisto Island, SC 29438

8170 Natty Road
Edisto Island, SC 29438
Edisto island
Residential

MLS# 14028402 /
3 br, 3 ba, 3134 sqft

Location, location, location this is a great opportunity for a private home buyer or investor to buy into edisto island which is located in the sou... 

$400,000
Provided courtesy of Carolina One Real Estate
3302  Myrtle Street Edisto Beach, SC 29438

3302 Myrtle Street
Edisto Beach, SC 29438
Beach walk
Residential

MLS# 15001977 /
4 br, 3 ba, 2000 sqft

Best buy on beachwalk home located 3rd row to the st. helena sound! enter the home up the split stairway onto the lowcountry rocking porch that ove... 

$399,900
Provided courtesy of Edisto Real Estate Company, LLC
134  Jungle Road Edisto Beach, SC 29438

134 Jungle Road
Edisto Beach, SC 29438
Residential

MLS# 14027345 /
4 br, 1 ba, 1 half bath, 1440 sqft

Don't miss this opportunity to own a potential business or home on edisto beach with a short walk to the ocean. this charming home has been zoned ... 

$379,000
Reduced -$20,000
Provided courtesy of Carolina One Real Estate Edisto
2273  Redfern Lane Mount Pleasant, SC 29466

2273 Redfern Lane
Mount Pleasant, SC 29466
Planters pointe
Residential

MLS# 1412060 /
4 br, 2 ba, 1 half bath, 2570 sqft

Perfect family home located in sought after planters pointe! 4 bedroom 2.5 bath home with eat-in kitchen, open to the family room. this home offers... 

$369,500
Reduced -$8,500
Provided courtesy of Carolina Elite Real Estate

Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than Remax Advanced Realty are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.

Copyright 2015 Charleston Trident Multiple Listing Service, Inc. All rights reserved.

Quick Search

Hot Locations

Featured Listings

Connect

Help a Friend

Your Profile

Blog Posts

Links