Lender Owner Properties For Sale

How do I buy a foreclosed home in Charleston, SC?”, is a question I am asked almost daily.  It’s a simple answer!  You first need to find a knowledgeable real estate agent with proven experience negotiating with lenders on your behalf.   Look no further!  I specialize in selling foreclosure and short sale properties, and handle all aspects of negotiating with lenders.

It is important to know what a foreclosed home is.  A Foreclosed home, also known as a “Lender Owned” or  “Bank Owned”, is a property owned by a Bank, Lender, Private Owner or corporation that has been taken back (in most cases) using a legal process by which a mortgagee obtains a court ordered termination of the mortgagor’s right of redemption on the home usually due to non payment.  The borrow in default will be given a redemption period prior to the actual court ordered sale in which the borrow will have the ability to redeem the home by paying off the entire loan balance, any fees the lender is owed and out of pocket expenses.  Typically the default borrow nor the junior lien holders  have the ability to do this and the home is sold at the courthouse steps to the highest bidder.  This foreclosure process will wipe out any junior lien holders or other individuals whom may have liens on the property.  The title to the property will be conveyed free of encumbrances and liens.

There is also a process known as “deed in lieu of foreclosure” which is the second most common type of foreclosure in Charleston County.  The Deed in Lieu of Foreclosure offers several advantages to both parties involved.  The borrower can save their credit and also have the ability to negotiate directly with the lender in an effort to give the property back to the lender without a public auction.  The lender can save a great deal of legal expense as well as have the ability to repossess the property on their terms, keeping the quality of the home intact and negotiating terms with the borrow.   This process can only be entered into voluntarily and has to be accepted by the lender.

Foreclosed homes, in many cases, offer a nice market discount and allow buyers to get a deal.  If you are interested in finding a Foreclosed home in the Charleston area, please give me a call or email.  I look forward to hearing from you!

Showing properties 1 - 25 of 25. See more Foreclosure Properties Bank Owned For Sale.
(all data current as of 5/24/2013)

  1. 0 beds, 0 baths
    Lot size: 10,890 sqft
    Listing Provided by SCREOEXPERT.COM, THE REAL ESTATE EXPERTS
    Broker reciprocity icon
  2. 0 beds, 0 baths
    Home size: 1,560 sq ft
    Listing Provided by C-21 Russell Realty
    Broker reciprocity icon
  3. 3 beds, 2 full baths
    Home size: 1,536 sq ft
    Lot size: 10,018 sqft
    Listing Provided by Re/Max Advanced Realty
    Broker reciprocity icon
  4. 4 beds, 3 full baths
    Home size: 2,524 sq ft
    Lot size: 17,859 sqft
    Listing Provided by Southern Breezes Real Estate Ltd. Co
    Broker reciprocity icon
  5. 3 beds, 2 full baths
    Home size: 1,014 sq ft
    Lot size: 10,890 sqft
    Listing Provided by SCREOEXPERT.COM, THE REAL ESTATE EXPERTS
    Broker reciprocity icon
  6. 6 beds, 5 full, 1 part baths
    Home size: 3,350 sq ft
    Lot size: 5,662 sqft
    Listing Provided by Southern Breezes Real Estate Ltd. Co
    Broker reciprocity icon
  7. 0 beds, 0 baths
    Home size: 2,736 sq ft
    Lot size: 3,049 sqft
    Listing Provided by Southern Breezes Real Estate Ltd. Co
    Broker reciprocity icon
  8. 3 beds, 2 full, 1 part baths
    Home size: 2,386 sq ft
    Lot size: 10,890 sqft
    Listing Provided by SCREOEXPERT.COM, THE REAL ESTATE EXPERTS
    Broker reciprocity icon
  9. 6 beds, 3 full baths
    Home size: 2,435 sq ft
    Lot size: 4.69 ac
    Listing Provided by REALHOME SERVICES & SOLUTIONS
    Broker reciprocity icon
  10. 3 beds, 2 full baths
    Home size: 2,094 sq ft
    Lot size: 10,454 sqft
    Listing Provided by SCREOEXPERT.COM, THE REAL ESTATE EXPERTS
    Broker reciprocity icon
  11. 0 beds, 0 baths
    Lot size: 14,810 sqft
    Listing Provided by Aviles Real Estate Brokerage
    Broker reciprocity icon
  12. 3 beds, 2 full, 1 part baths
    Home size: 1,406 sq ft
    Listing Provided by Fred Holland Realty
    Broker reciprocity icon
  13. 3 beds, 3 full baths
    Home size: 1,617 sq ft
    Listing Provided by CAROLINA ONE COMMERCIAL REAL ESTATE
    Broker reciprocity icon
  14. 5 beds, 4 full, 1 part baths
    Home size: 5,386 sq ft
    Lot size: 1.11 ac
    Listing Provided by CAROLINA ONE COMMERCIAL REAL ESTATE
    Broker reciprocity icon
  15. 4 beds, 4 full, 1 part baths
    Home size: 2,531 sq ft
    Lot size: 40,946 sqft
    Listing Provided by SCREOEXPERT.COM, THE REAL ESTATE EXPERTS
    Broker reciprocity icon
  16. 1 bed, 1 full bath
    Home size: 709 sq ft
    Listing Provided by ERA HARPER REALTY
    Broker reciprocity icon
  17. 3 beds, 2 full baths
    Home size: 1,500 sq ft
    Lot size: 7,840 sqft
    Listing Provided by REALHOME SERVICES & SOLUTIONS
    Broker reciprocity icon
  18. 3 beds, 2 full baths
    Home size: 1,160 sq ft
    Lot size: 13,939 sqft
    Listing Provided by ERA HARPER REALTY
    Broker reciprocity icon
  19. 5 beds, 4 full, 1 part baths
    Home size: 3,750 sq ft
    Lot size: 6,534 sqft
    Listing Provided by Charleston Coastal Realtors
    Broker reciprocity icon
  20. 5 beds, 4 full, 1 part baths
    Home size: 5,807 sq ft
    Lot size: 41,382 sqft
    Listing Provided by Aviles Real Estate Brokerage
    Broker reciprocity icon
  21. 0 beds, 0 baths
    Lot size: 25,264 sqft
    Listing Provided by Fred Holland Realty
    Broker reciprocity icon
  22. 4 beds, 3 full baths
    Home size: 2,303 sq ft
    Lot size: 16,117 sqft
    Listing Provided by Fred Holland Realty
    Broker reciprocity icon
  23. 0 beds, 0 baths
    Lot size: 19,602 sqft
    Listing Provided by CAROLINA ONE REAL ESTATE
    Broker reciprocity icon
  24. 0 beds, 0 baths
    Lot size: 1.55 ac
    Listing Provided by RALPH EDWARDS & ASSOC
    Broker reciprocity icon
  25. 0 beds, 0 baths
    Lot size: 9.38 ac
    Listing Provided by CCBG Real Estate Group
    Broker reciprocity icon

Listing information deemed reliable but not guaranteed. Read full disclaimer.