Foreclosure, Short Sale, Bank Owned Homes for Sale Lexington SC Week of Nov. 1, 2011

Foreclosure, Short Sale, Bank Owned Homes for Sale Lexington SC
Week of Nov. 1, 2011

Buying bank owned properties in Lexington SC
There is a lot of interest in buying bank owned properties these days. A lot of information, some good and some bad, is floating around about the subject. Often the information offered is for sale, with the promise that you can make a lot of money with little effort once you know “the secret formula”. The fact is that there are no secrets, and to make money does require effort and time.

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$449,000 4 beds, 3.5 baths 4286 sq. ft. mls no. 270887

149 Brooklet Drive
Lexington, SC 29072

Single Family Home Gen. Contractors purchased Bank Owned Property and are finishing!Must see detail... Courtesy of Southern Visions Realty Inc

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$132,900 3 beds, 2.5 baths 2132 sq. ft. mls no. 298111

412 Smokey Joe Court
Lexington, SC 29073

Single Family Home Make an offer! REO PROPERTY - BANK OWNED. PROPERTY SOLD 'AS IS' WITHOUT REPAIR,... Courtesy of REALHome Services & Solutions

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$189,900 5 beds, 3 baths 3044 sq. ft. mls no. 282337

305 Crimson Lane
Lexington, SC 29072

Single Family Home This 5 bedroom home has 2 large living rooms with new carpet! High ceilings and... Courtesy of Resource Realty Group ​

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$99,500 3 beds, 2 baths 1251 sq. ft. mls no. 292045

128 Coventry Court
Lexington, SC 29072

Single Family Home Bank owned property being sold AS IS, great for first time buyers, home needs... Courtesy of Centre Realty, LLC

Lexington SC Real Estate – Nelson Bermas, REALTOR®
Your Investment Property Specialist in Lexington South Carolina for all your Real Estate Needs. Search all MLS Properties in the area or call me direct at (803) 414-5677. EXIT Real Estate Consultants ​

Before You Buy Your First Foreclosure Home - Lexington SC

Before You Buy Your First Foreclosure Home
Foreclosures in Columbia & Lexington SC

Here are some questions that the "virgin" foreclosure buyer should ask:

Can I afford all the repairs for this foreclosure?

Most of these foreclosures are AS-IS. The seller has no obligation, liability, or responsibility to warranty the property. It may be a great deal but do you have the resources and professionals to get this property back into selling/renting shape for a return on your investment?

Have you read the FINE PRINT?

Hooray the seller accepted your offer! The FUN stuff now begins, all the addenda you will receive from the seller. The addenda mostly favors the seller so don't be depressed after reading it. Remember, it's not personal the seller sends the same offensive stuff to all the buyers they work with. The reading is dry as toast but scary enough that YOU NEED TO READ IT or it will cost you money! If you don't close on time an example would be, at no fault of the seller, the seller may fine you $100 per Diem until the property closes, surrender your earnest money, and put an additional deposit.

Do you have the PATIENCE to buy a foreclosure?

Everything looks like it's going smoothly then BAM! Something is wrong with the deed or financing! Even with the best plans, there will be something out of your control that may slow down this closing so be forewarned. Getting a great deal does come at a price, your patience. Be flexible with your time line. You can huff and puff but doing so will not get things done sooner just irritate the people you are working with. Cooperate with all parties involved and consistently follow up.


HOMES for Sale Lexington SC Real Estate – Nelson Bermas, REALTOR®
Your Neighborhood Specialist in Lexington South Carolina for all your Real Estate Needs. Search all MLS Properties in the area or call me direct at (803) 414-5677. Search Foreclosures Irmo, West Columbia, and Lexington SC. EXIT Real Estate Consultants

Foreclosure Homes for Sale Columbia & Lexington SC