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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.


292  King St Charleston, SC 29401

292 King St
Charleston, SC 29401
Downtown
residential

MLS# 1420657 / Active
1 br, 1 ba, 1 half bath, 746 sqft

Deadline to submit letter of intent is friday, august 8 @ 5pm. court ordered sale, consisting of 6 luxury residential condominiums, comprised of... 

$2,210,100
Provided courtesy of John Poston & Company, Inc.
1655  Atlantic Ave Sullivans Island, SC 29482

1655 Atlantic Ave
Sullivans Island, SC 29482
Sullivans island
residential

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

Exceptional opportunity for ocean front on sullivans island. this lot abuts the maritime forest near fort moultrie area. vistas of the ocean fro... 

$2,200,000
Provided courtesy of Carolina One Real Estate
89  Beaufain St Charleston, SC 29401

89 Beaufain St
Charleston, SC 29401
Harleston village
residential

MLS# 1127276 / Active
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
47  Smith St Charleston, SC 29401

47 Smith St
Charleston, SC 29401
Harleston village
residential

MLS# 1214940 / Active
4 br, 3 ba, 2 half bath, 4500 sqft

When you enter through the massive cast iron gates, you'll know why this home was the front page feature of charleston home magazine (fall 2006)... 

$1,500,000
Reduced -$259,000
Provided courtesy of State Street Real Estate Group
243  Delahow St Charleston, SC 29492

243 Delahow St
Charleston, SC 29492
Daniel island park
residential

MLS# 1421999 / Active
5 br, 4 ba, 1 half bath, 4486 sqft

-fantastic opportunity!! currently the only short sale single family home in the prestigious daniel island park neighborhood. owner's paid $1,290,0... 

$969,000
Provided courtesy of Daniel Island Real Estate Co Inc
4  Sumter Dr Folly Beach, SC 29439

4 Sumter Dr
Folly Beach, SC 29439
East folly beach shores
residential

MLS# 1330588 / Active
4 br, 3 ba, 2 half bath, 2454 sqft

Beachfront, bank owned home on folly beach. this three story property features beautiful, panoramic ocean/river views from every side. the first... 

$899,000
Reduced -$25,000
Provided courtesy of Carolina One Real Estate
915 West Ashley Ave Folly Beach, SC 29439

915 West Ashley Ave
Folly Beach, SC 29439
Folly beach
residential

MLS# 1421697 / Active
6 br, 3 ba, 2160 sqft

*** reduced price and very rare opportunity *** filled with rich history, this ridiculous opportunity to own an oceanfront home in a ridiculous hot... 

$875,000
Reduced -$24,900
Provided courtesy of Fred Holland Realty
3101  Baywood Dr Seabrook Island, SC 29455

3101 Baywood Dr
Seabrook Island, SC 29455
Seabrook island
residential

MLS# 1405372 / Active
4 br, 4 ba, 3962 sqft

Great opportunity at seabrook island sc. located just minutes from charleston, this home is priced to move. this luxury home is located on the 1... 

$749,200
Increase +$31,000
Provided courtesy of OSWALD & ASSOCIATES, INC.
1408  Burningtree Rd Charleston, SC 29412

1408 Burningtree Rd
Charleston, SC 29412
Country club ii
residential

MLS# 1027117 / Active
4 br, 3 ba, 1 half bath, 3819 sqft

This is the bank approved price for the 1st and 2nd lien holder. needs to close quickly! relaxing country club living convenient to downtown, sh... 

$704,000
Increase +$14,000
Provided courtesy of AgentOwned Charleston Group
220  King George St Charleston, SC 29492

220 King George St
Charleston, SC 29492
Daniel island
residential

MLS# 1419834 / Active
4 br, 4 ba, 1 half bath, 3280 sqft

Enjoy the luxury of living in wonderful daniel island parks at 220 king george. this incredible home features 4 bedrooms and 4.5 bathrooms in th... 

$700,673
Reduced -$36,877
Provided courtesy of Carolina Elite Real Estate
28  Fairway Oaks Ln Isle Of Palms, SC 29451-3835

28 Fairway Oaks Ln
Isle Of Palms, SC 29451-3835
Wild dunes
residential

MLS# 1308233 / Active
5 br, 4 ba, 4108 sqft

This home is a potential short sale. this home has tremendous potential as a primary residence, or rental property. 4100 sq ft 5 bedroom, 4 bath... 

$700,000
Increase +$85,000
Provided courtesy of Carolina One Real Estate
719  Windward Rd Charleston, SC 29412

719 Windward Rd
Charleston, SC 29412
Lighthouse point
residential

MLS# 1419445 / Active
5 br, 4 ba, 4430 sqft

This fantastic james island home has it all! generous living area, elevated construction with drive under garage, in ground pool, and private ba... 

$675,000
Provided courtesy of Carolina One Real Estate
10  Beachside Dr Isle Of Palms, SC 29451

10 Beachside Dr
Isle Of Palms, SC 29451
Beachside
residential

MLS# 1417308 / Active
3 br, 2 ba, 1441 sqft

** short sale just a few steps from the beach ** located in private beachside community centrally located in isle of palms with community pool a... 

$600,000
Reduced -$50,000
Provided courtesy of Keller Williams Realty Charleston
422  Pelican Flight Dr Dewees Island, SC 29451

422 Pelican Flight Dr
Dewees Island, SC 29451
Dewees island
residential

MLS# 1304490 / Active
4 br, 4 ba, 1 half bath, 3055 sqft

Opportunity ! opportunity !!!! huge price reduction. was $795,000.now $595,000 prime location with views over lake timicau to the atlantic ocean... 

$595,000
Provided courtesy of Carolina One Real Estate
30  Middleton Oaks Rd Charleston, SC 29414

30 Middleton Oaks Rd
Charleston, SC 29414
Middleton oaks
residential

MLS# 1329969 / Active
4 br, 4 ba, 1 half bath, 4450 sqft

Short sale - short sale - short sale. this lovely 4400 square foot, 4 bedroom home comes with 2.21 beautiful acres that backs up to the middleto... 

$585,000
Increase +$10,000
Provided courtesy of REMAX Alliance
462  Commonwealth Rd Mount Pleasant, SC 29466-8317

462 Commonwealth Rd
Mount Pleasant, SC 29466-8317
Commonwealth
residential

MLS# 1410537 / Active
4 br, 3 ba, 1 half bath, 2388 sqft

Elevated home located in commonwealth subdivision in mt pleasant. this home is located on darrell creek, and offers approximately 2388 square fe... 

$538,200
Provided courtesy of Carolina One Real Estate
4180  Legacy Ln Meggett, SC 29449-6018

4180 Legacy Ln
Meggett, SC 29449-6018
Meggett
residential

MLS# 1419843 / Active
3 br, 3 ba, 2251 sqft

Deep water .. private dock .. 1.23 acres .. architectural roof .. full front porch .. great rm w/2-story vaulted ceil, wet bar, built-ins, & fir... 

$515,000
Reduced -$44,000
Provided courtesy of Carolina One Real Estate
3125  Grass Marsh Dr Mount Pleasant, SC 29466

3125 Grass Marsh Dr
Mount Pleasant, SC 29466
Dunes west
residential

MLS# 1209342 / Active
4 br, 3 ba, 1 half bath, 2991 sqft

Popular open floor plan with a large kitchen and great room. formal dining and living room. screen porch opens to an expansive deck overlooking ... 

$465,000
Increase +$20,000
Provided courtesy of AgentOwned Preferred Group
3334  Porchview Place Johns Island, SC 29455

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

MLS# 1309536 / Active
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... 

$439,000
Increase +$60,000
Provided courtesy of Keller Williams Realty Charleston West Ashley
1283  Abercorn Trace Mount Pleasant, SC 29466

1283 Abercorn Trace
Mount Pleasant, SC 29466
Brickyard plantation
residential

MLS# 1419119 / Active
3 br, 3 ba, 2340 sqft

Selller says to bring an offer. this beautiful single story home sits on a quiet cul-de-sac in one of the most sought after neighborhoods in mt.... 

$429,000
Reduced -$40,000
Provided courtesy of Keller Williams Realty Chas. Islands
3095  South Shore Dr Charleston, SC 29407

3095 South Shore Dr
Charleston, SC 29407
Battery haig
residential

MLS# 1411468 / Active
4 br, 3 ba, 1 half bath, 3500 sqft

Great elevated home with awesome views of the stono river and marshland. this is a perfect family home with a flowing floor plan that's ideal fo... 

$399,900
Provided courtesy of ERA Wilder Realty

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 2014 Charleston Trident Multiple Listing Service, Inc. All rights reserved.

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