Joint Base Charleston Real Estate

Charleston AFB - Buying a Foreclosures or Short Sales - Patience is KEY!

April 1st, 2011 8:00 PM by Jodie Ford

All of us love a ‘great deal’….its no different when buying a home. With the large amount of foreclosed properties and short sale attempts on the Charleston AFB market today – it’s a great time to get a great deal in real estate!

The National Association of Realtors (NAR) last week reported that on average, foreclosures sell at a 22% discount and short sales at a 17% discount. Sounds like a deal to me!

But – you need to understand that deals like these can have a downside…..Most Charleston foreclosures are not move-in ready, and may need some extensive TLC. Additionally, understand that title issues may exist which will need to be fixed before the transaction goes through.

Short sales can take between 2 – 4 months, and in some cases, even longer. Also, many short sales are sold “AS IS” as lenders are already taking a loss on the property and generally do not agree to requests for repair credits.

I’m certainly not saying you should stay away from foreclosures or short sales – I just want you to understand that you will need to be patient and know that there may be obstacles along the way.

If you're serious about purchasing a Charleston AFB short-sale or foreclosed property, it's important for you to have expert assistance and LOTS OF PATIENCE! But remember, your patience will be rewarded….as you will have paid 17-22% less for the home, and will have equity on day one!

 

Torri Jacobsen, Military Homes of Charleston
Buying or selling a home doesn’t have to be hard, but choosing the right Realtor DOES make a difference. I specialize in making first-time home buying a great experience for military families moving to the Charleston, SC area. Call (843-475-9313) or email today, and let’s make this your best move yet! You’ll feel right at home with me. Email Torri or Visit Me On Facebook!

Jodie Hurt, Military Homes of Charleston
I specialize in helping military families enjoy a smooth PCS in and out of Charleston. I have a passion for helping people, and I love what I do. Call me and let me make this the easiest PCS yet! Email Jodie

Charleston AFB Real Estate, Charleston AFB Real Estate For Sale, Charleston AFB SC, Joint Base Charleston, Joint Base Charleston Real Estate

Posted in:General
Posted by Jodie Ford on April 1st, 2011 8:00 PM


This forum needed sahnkig up and you've just done that. Great post!
Posted by Chassidy on December 17th, 2011 5:54 AM
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