If you are interested in purchasing a foreclosed home, you could go to the courthouse auction and try to purchase one of the Greenville SC foreclosed homes for sale before they are listed on the market with a Realtor.
Unfortunately, most of these foreclosures do not sell at the auction because of loan balances that are much higher than the amount the bank is willing to accept on the property. When these homes do not sell at the auction, they become an REO (Real Estate Owned) by the lender. This is when the bank would evict the homeowners if they have not already moved out, and then list the property with an area Realtor.
Some of these bank owned homes are in good condition, or may only need new carpet, appliances or paint. Sometimes the lenders would make these repairs/updates and then try to sell it at market value or as close to it as possible. These REO homes are mostly sold as-is, and majority of them are in need of repairs and/or updates.
The 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.
Some homebuyers are also purchasing short sales before they are foreclosed on. Although short sales may take some time to finalize, it does allow the buyer to potentially purchase the home for less than the loan balance. Plus, the homeowner gets to avoid foreclosure.
If you are interested in buying one of the foreclosed homes for Sale in the Greater Greenville area, we have the local Greater Greenville SC real estate listing database online, which includes foreclosed homes for sale, so you can quickly find the information you need!
Our expert advisors can help make your real estate investment a smooth, enjoyable and profitable experience. Contact us now at 864-438-5050 to discuss your needs.
Homestead on this home from years past. Beautiful pasture with horse fencing in place. Conveniently located between Greenville, Greenwood, and Anderson.
Small convenience store on a busy road with plenty of walk-in traffic. Directly across the street from West Market St. school and off busy highway 28 bypass. Located nea...
REO Occupied - the seller does not represent or guarantee occupancy status. NO VIEWINGS of this property- no Interior photos. Please DO NOT DISTURB the occupant. "As is" ...
Great investment opportunity - Brick Ranch Fixer upper. 2 Bedrooms, 1 bath - Formal Living room and den with knotted pine paneling. Tons of potential but selling as is - ...
PICTURE-PERFECT HOME OUT IN THE COUNTRY ON ALMOST 4 ACRES OF LAND - This may be the property you have been looking for with enough acreage to have a garden, farm animals,...
***AUCTION*** Real Estate Auction to be held on June 4, 2022 via ONSITE bidding. ***Buyer's Premium of 10% Added to Final Bid Price*** Pre-Auction Offers are welcome and ...
¼ acre Wooded residential lot located in one of the smaller Villages of Foxwood Hills, Orion has only 47 total parcels. Restricted to homes only, no modular with a minim...
Call today to view this house located near shopping, schools and minutes to Clemson University. Storage unit with power on property. Living Room and bonus room. This prop...
FIXER UPPER , ON. 823 ACRES OF LAND, SOLD AS-IS, OFERS SEE PRIVATE REMARKS
AUCTION. Investor-Handyman special is available at a great price. This Mobile home is in poor condition and would need updates to include flooring, electrical, and more....