Dargan Real Estate - Myrtle Beach, SC

Office: (843) 712-2585 Fax: (888) 712-1027 Email Us

Myrtle Beach short sales

Myrtle Beach Foreclosure Properties

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If you are looking for some great deals here at the beach, we have a variety of bank owned properties for you to choose from. A foreclosed property  which is also known as Real Estate Owned (REO) is a home that was once owned by a homeowner, but has been turned back to the mortgage holder as the result of a foreclosure action or acceptance of a deed-in-lieu of foreclosure.

A foreclosure can occur when mortgage payments have not been paid  over a period of time the efforts made to resolve the default are unsuccessful. The bank then tries to sell these properties for what is owed on the home. This creates an opportunity for home buyers to purchase a great home for less.  These properties pop up in almost ALL areas along the Grand Strand allowing buyers a chance to get in a home and neighborhood that they may have not been able to afford otherwise.

Feel free to do a foreclosure property search on our website or call one of our agents to email you homes that are available and fit your specific needs.

 

Dargan Real Estate 843-712-2585

What is a short sale ?

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A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy. Instead of buying from a seller, you are purchasing the property directly from the bank  for a discount. For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $400,000. You write an offer to the lender for $320,000, which is accepted as full payment for the loan. This is a short sale. Banks are willing to do this for numerous reasons. One being they don’t want bad loans and excess inventory on their books. Another reason being , they could lose more money if the property goes into auction. However you look at it , there are some amazing opportunities for buyers in today’s real estate market. Contact us at Dargan Real Estate in Myrtle Beach, SC to help you find an amazing deal on your next home at the beach .