Search For Foreclosures Now

Lewis Realty Associates, Inc. is pleased to announce that they have added a new search to our Topsail Island MLS to allow our users to search for Foreclosures, REOs, & Short Sale properties as a recent addition to their Topsail Island Real Estate & Topsail Island Vacation Rentals site.

Currently out of 1889 Topsail Island Real Estate for sale listings, 132 are considered in the Topsail Island MLS as foreclosures, REOS, or Short Sales.

A brief explanation of the terms used:

Foreclosures/REOs – Foreclosures and REOs are basically the same concept. A Bank has seized the property from the mortgage holder and now is marketing the property to sell, sometimes a huge discounts.

Short Sales – The owners of the property owe more than the property is worth and wish to sell the property. They have been allow by the mortgage holder (bank) to market the property at market value and the bank will consider forgiving the difference between market value and money owed when an offer is submitted.

Topsail Island MLS, Topsail Island Real Estate, Topsail Island