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... 

$1,899,000
Reduced -$51,000
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
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... 

$949,000
Provided courtesy of Carolina One Real Estate
2702  Jasper Boulevard Sullivans Island, SC 29482

2702 Jasper Boulevard
Sullivans Island, SC 29482
Sullivans island
Residential

MLS# 1426448 /
4 br, 3 ba, 1 half bath, 2600 sqft

This ''one of a kind'' sullivan's island classic cottage, built in 1920, has a good floor plan. master bedroom with vaulted ceiling,large master ba... 

$879,600
Provided courtesy of Carrington Real Estate Services (US) LLC
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... 

$745,000
Provided courtesy of Carolina One Real Estate
2351  Palmer Charleston, SC 29412

2351 Palmer
Charleston, SC 29412
Oak island
Residential

MLS# 1405450 /
3 br, 3 ba, 1 half bath, 2994 sqft

Seller motivated bring all offers! waterfront living at its finest! absolutely stunning deep water home, built on a double lot with sweeping views ... 

$699,000
Reduced -$51,000
Provided courtesy of Brand Name Real Estate
719  Windward Road Charleston, SC 29412

719 Windward Road
Charleston, SC 29412
Lighthouse point
Residential

MLS# 1419445 /
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
306 N Shelmore Boulevard Mount Pleasant, SC 29464

306 N Shelmore Boulevard
Mount Pleasant, SC 29464
Ion
Residential

MLS# 14028437 /
4 br, 3 ba, 1 half bath, 2541 sqft

Come view as this home has it all! this custom built home features a covered front porch, screened porch in the rear, hardwood floors in great room... 

$559,500
Provided courtesy of Realhome Services & Solutions
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... 

$484,900
Reduced -$15,000
Provided courtesy of Biggers Real Estate, Inc.
1551  Ben Sawyer Boulevard Mount Pleasant, SC 29464

1551 Ben Sawyer Boulevard
Mount Pleasant, SC 29464
Simmons pointe
Residential

MLS# 1425853 /
3 br, 3 ba, 1993 sqft

** beautiful penthouse unit w/ incredible long range views ** you can even see the cruise ships coming in to charleston harbor ** freshly painted a... 

$429,900
Reduced -$20,000
Provided courtesy of REMAX Advanced Realty
2262 N Marsh Drive Mount Pleasant, SC 29466

2262 N Marsh Drive
Mount Pleasant, SC 29466
Rivertowne
Residential

MLS# 14027208 /
4 br, 3 ba, 1 half bath, 2590 sqft

** beautiful home located on a great lake w/ magnificent views from the screened porch and deck ** double porches ** wood floors ** new paint & car... 

$429,900
Reduced -$20,000
Provided courtesy of REMAX Advanced Realty
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
Reduced -$14,000
Provided courtesy of Keller Williams Realty Charleston West Ashley
5017  Timber Race Course Hollywood, SC 29449

5017 Timber Race Course
Hollywood, SC 29449
Stono ferry
Residential

MLS# 1425479 /
4 br, 3 ba, 1 half bath, 4044 sqft

Investor special!!! this is the best price per sq.ft house in stono ferry, but it needs some tlc. one level living, this home has lots of potential... 

$410,000
Reduced -$23,250
Provided courtesy of Re/Max Advanced Realty
707  Castle Pinckney Drive Charleston, SC 29412

707 Castle Pinckney Drive
Charleston, SC 29412
Stiles point plantation
Residential

MLS# 14028736 /
4 br, 2 ba, 1 half bath, 2346 sqft

See attachment for pas requirements and wfhm offer submittal information in mls document section. tucked well back into desirable stiles point plan... 

$410,000
Provided courtesy of Seabrook Island Realty
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
833  Captain Toms Crossing Johns Island, SC 29455

833 Captain Toms Crossing
Johns Island, SC 29455
Grimball gates
Residential

MLS# 1416544 /
4 br, 3 ba, 2986 sqft

Possible short sale in grimball gates that needs a little tlc. everything from a grand entrance with a fountain in the front yard to koi fish pond ... 

$390,000
Provided courtesy of Keller Williams Realty Charleston
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
1514  Dennis Boulevard Moncks Corner, SC 29461

1514 Dennis Boulevard
Moncks Corner, SC 29461
Fairlawn barony
Residential

MLS# 1426944 /
5 br, 3 ba, 1 half bath, 2980 sqft

Deep waterfront property on the market you can access the cooper river and lake moultrie. no hoa community. more details to come!! 

$369,000
Provided courtesy of The Boulevard Company, LLC

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.

Quick Search

Hot Locations

Featured Listings

Connect

Help a Friend

Your Profile

Blog Posts

Links