Short sale properties aren’t your typical exchange of real estate between a buyer and a seller but they are a good way to make money in real estate. These transactions are more detailed, take additional time to process, and the homeowner needs permission from their mortgage lender before accepting any offer. This tends to slow the process down but this is clearly a case of good things coming to those who wait because you can buy property at far less than the appraised value.
When you buy one of the Brunswick County NC short sales, the seller needs to go to their lender to have any offer approved. Because the owner is selling for less than the loan amount, the bank must approve the sale and this takes time. Historically, banks are slow to give the thumps-up but things are improving.
As of this writing, there are 47 properties in Brunswick County that are being sold as short sales and they range in price from $130k to $2M. From 5 bedroom single family homes to condominiums and manufactured housing, there’s a large assortment of properties to choose from.
While there are risks in buying any distressed property, there is more information available on properties today than there were in previous decades. Today’s savvy buyer can learn a great deal about short sale properties before ever signing on the dotted line just by going on the Internet and searching around.
The saying “no risk, no reward” often applies to foreclosure and short sale properties. Distressed sales tend to be priced from much below the current market value so the potential to make money on the purchase is great. It’s how many people can afford to invest in real estate for the first time and it usually leads to sound investments that pay off long into the future.
Keep in mind that distressed properties aren’t necessarily run down homes. The recession impacted people in all income brackets. It’s not unusual to find high end homes in excellent condition and in good locations being listed among the Brunswick County NC short sales — homes that just might be exactly what you’re looking for. It’s always a good idea, if you’re in the market to purchase real estate, to take a good hard look at the foreclosure and short sale properties.
Give us a call at 910-842-8686 or 1-800-360-9770 and let’s get together to see some properties. We hope to hear from you soon.