Greenville SC Real Estate Foreclosures, REO's, and Bank Owned Properties, Listings, and Homes for Sale

Normally before a Greenville South Carolina foreclosure is listed on the market, it first goes to the auction on the courthouse steps. In the past, the banks could almost always unload any of these foreclosed properties at the courthouse auction because the bank only needed to recover the outstanding balance on the mortgage.  

Although today's foreclosure buyers can still purchase some of these homes below market value, however, the bad loans that were made in the past years have made it difficult for most of these homes to sell at the auction. In most cases the homeowner owes more on the property than it is worth, and the bank needs to recover as much or more than the market value of the property, which means that majority of these homes will not sell at the auction.

When a property does not sell at the auction, it is said to become an REO (Real Estate Owned) status by the bank. At this point, the bank would evict the homeowners, get a BPO (Broker Price Opinion), and list the property with a real estate agent. Some of these foreclosure properties are in good condition, and sometimes some lenders would make some updates like, new carpets, paint, sometimes replace appliances, and then try to sell it at market value. But, in majority of the cases, these homes are sold as-is, and they are usually in need of repairs and/or updates.

Greenville SC foreclosed properties that are in good condition and are priced right usually sell quickly, and some of them actually receive multiple offers. The ones that don't sell fast just sit vacant. Since the bank has no hope of getting any mortgage payments, the longer it sits, the more motivated the bank gets.

If you are interested in purchasing a foreclosure, REO or short sale property in Greenville County, and are considering the value, you need to look closely at comparable sales in the neighborhood and be sure to take into account the time and cost of any repairs or remodeling needed to prepare the house for resale. Victor Amadi can help you with all the necessary homework before you proceed with an offer.

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Feel free to contact me for help buying an Upstate foreclosed property, or to get a free list of foreclosed homes in your price range.

Greenville County Entry Level Homes for Sale {under $150k}	Greenville County Median Homes for Sale {$150k~$300k}	FREE Quick Over-The-Net Home Evaluation
Greenville County Upscale Homes for Sale {$300k~$600k}	Greenville County SC Luxury Homes for Sale {$600k~$1m}	Greenville County SC Million Dollar Homes for Sale {over $1million}
Greenville County Lots & Land for Sale	Greenville County Condos & Townhouses for Sale	START NEW SEARCH

 Greater Greenville County SC MLS Real Estate - Homes for Sale in the Greenville Area of South Carolina. Here you have access to the following market segments: Greater Greenville Entry Level Homes, Greater Greenville Median Homes, Greater Greenville Upscale Homes, Greater Greenville Luxury Homes, Greater Greenville Million Dollar Homes, and Greater Greenville Lots, Homesites and Land for Sale in Greenville County SC. Surrounding towns and communities include: Greenville, Simpsonville, Greer, Easley, Fountain Inn, Mauldin, Taylors, Travelers Rest, Piedmont, Landrum and Marietta South Carolina. Also includes Greenville County, Spartanburg County, Anderson County, Pickens County, Laurens County, and Oconee County real estate and homes for sale. Call Victor Amadi at (864)525-0201. EXIT Upstate Realty