Charleston AFB – Understanding Short Sales and Foreclosures

Charleston AFB – Understanding Short Sales and Foreclosures

All of us love a ‘great deal’….its no different when buying a home.  With the large amount of foreclosed properties and short sale attempts on the Charleston AFB market today – it’s a great time to get a great deal in real estate!

 

The National Association of Realtors (NAR) reported that on average, foreclosures sell at a 22% discount and short sales at a 17% discount.   Sounds like a deal to me!

But – you need to understand that deals like these can have a downside…..Most Charleston foreclosures are not move-in ready, and may need some extensive TLC.  Additionally, understand that title issues may exist which will need to be fixed before the transaction goes through. 

 

Short sales can take between 2 – 4 months, and in some cases, even longer.  Also, many short sales are sold “AS IS” as lenders are already taking a loss on the property and generally do not agree to requests for repair credits.  

 

I’m certainly not saying you should stay away from foreclosures or short sales – I just want you to understand that you will need to be patient and know that there may be obstacles along the way.

 

If you're serious about purchasing a Charleston AFB short-sale or foreclosed property, it's important for you to have expert assistance and LOTS OF PATIENCE!  But remember, your patience will be rewarded….as you will have paid 17-22% less for the home, and will have equity on day one!

 

About Military Homes of Charleston
Military Homes of Charleston is part of the Exit Realty Charleston Group and is a full-service real estate team based in Charleston, SC.  We understand the appeal of living in Charleston and the challenges that come with moving to a new neighborhood or state. So whether you’re looking to buy a dream property or sell one, we can help.

Torri Jacobsen, Military Homes of Charleston
Buying or selling a home doesn’t have to be hard, but choosing the right Realtor DOES make a difference. I specialize in making first-time home buying a great experience for military families moving to the Charleston, SC area. Call (843-475-9313) or email today, and let’s make this your best move yet! You’ll feel right at home with me.   Email Torri or Visit Me On Facebook!

 

Jodie Hurt, Military Homes of Charleston
I specialize in helping military families enjoy a smooth PCS in and out of Charleston. I have a passion for helping people, and I love what I do. Call me and let me make this the easiest PCS yet!  Email Jodie 

 

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