Search Charlotte Area Foreclosures
Foreclosures / Pre-foreclosures- Short Sales
Foreclosures may be available in Counties and Towns like: Cabarrus County - Concord, Harrisburg, Kannapolis NC, Catawba County -Sherrills Ford NC, Terrell NC , Iredell County - Mooresville NC, Troutman NC, Lincoln NC, Denver NC, Stanley NC, Mecklenburg County- Charlotte NC, Cornelius NC, Davidson, NC Huntersville NC.
The two biggest factors when considering a foreclosure purchase are; first, are you under a time restraint and need to have a definite closing date? Secondly what type of financing will you be using?
Foreclosure sales can take anywhere from 60 days to 6 months. If the property is in need of major repairs, chances are it would not qualify for an FHA or VA loan. Therefore, the best options for financing would be a Conventional Loan or Cash.
To Start your search click on this link - Charlotte Area Foreclosures and follow directions on the map.
There are two types of foreclosures, pre-foreclosure (Short Sale) and foreclosure.
A property in pre-foreclosure means the owner has a chance to stop the foreclosure by either paying off what is owed or by selling the property. The seller can get permission from the seller to sell the property for less than they owe, thus the term short sale. You can usually get a better deal on a pre-foreclosure property than a foreclosure property. Foreclosure properties are bank or lender owned. The potential bargain is much less in a foreclosure purchase than a pre-foreclosure purchase.
Thank you for visting Charlotte Real Estate Team. Have questions or need help? Feel free to call for a no obligation conversation. Cell 704-968-2930 .
