Charlotte Foreclosures

Charlotte Foreclosures

When I speak of foreclosures, I speak in the past tenses- a foreclosure is a home that the foreclosure process has run out on– it has gone through the “Notice” stage, the         “Auction” stage, and now the Bank owns the home. Indeed, many people call foreclosures “bank-owned”, or a similar term, REO, or real-estate-owned... They all mean the same, a Bank now has title to the home.  Here’s a Quick Search  Charlotte Foreclosures or if you’ d  just like to  browse some Craigs List or Back Page ads that include the words Short sale or Foreclosure, see the column on the far right. Click on a link, but remember to come on back here for help!

I like foreclosures because you can still inspect them, banks are unemotional, respond in a few days and buyer’s can often can pick them up at a bargain. And, unlike a short sale, it doesn’t take forever to complete the sale.

In Charlotte, foreclosures are common in the lower income areas, but only infrequently in most of Charlotte. they have been difficult for home buyers to search.

Lets look at the Search Below. See the Foreclosure Window on the right? This is a first… ? Click the image, or just Click  Charlotte Foreclosures

Last year I represented Home Buyers in one of the largest-if not the largest- foreclosure sales in Charlotte. What made this unique was the that the home buyers saw the home at full price, $3.25M and were seriously considering buying it at, or near, that price. A new contract came in from the New Orleans Saints- a surprisingly good one, and they passed on the house. But, he is nearing retirement, and when we saw it foreclosed upon, he decided he couldn’t let it pass, and this would be his retirement homes. That was a lightening strike- a home they loved went into foreclosure and he was able to buy it for 65 cents on the dollar.