Foreclosure Facts
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For a nationwide search of foreclosures click here. The search is on a 7 day free trial basis. If you need further assistance and you're not in the Greenville, Sc area I can find a realtor for you where you live. Thanks!
What is a foreclosured property?
Foreclosure is the process a bank repossesses a home from the owner because the owner failed to make payments on the home loan. Foreclosed homes are often called "bank owned homes", as the home has been repossessed by the bank through the foreclosure process.
Are foreclosure homes cheaper than other homes?
Not always the case. Foreclosed homes often sell for less than homes in the same neighborhood that have not been foreclosed on but are they in comparable condition. Generally foreclosure properties need work before they are move in ready. GOOD deals are not always foreclosed properties.
How does purchasing a foreclosed home differ from purchasing a non--foreclosure?
Foreclosed home purchases usually have longer closing time frames and require more paperwork to release the home from the bank. If homes are priced below market value, the home will usually receive multiple offers and purchasing the property becomes more competitive.
