If you are considering the possibilities buying a distressed property in Dare or Currituck County, it helps to have a experienced Team working for you.  Most buyers in today's market are under the impression that distressed properties are a good buy.  That is not necessarily the truth!  

Our Team of Outer Banks Real Estate Brokers offer you complimentary services which include helping you negotiate, coordinate your closing and preparing offers and all the other paperwork related to foreclosure properties.  Begin your search today on some of the best prices the Outer  Banks of North Carolina has seen since the 1990's.

What exactly are Short Sales and Foreclosures?

A Short Sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan; It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.

Link to Short Sales Through March 14, 2010: Short Sales 

Foreclosure is the legal and professional proceeding in which a mortgagee, or other lien holder, usually a lender, obtains a court ordered termination of a mortgagor's equitable right of redemption. Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt.

Link to Bank Owned Properties Through March 22, 2010:  Bank Owned