Topsail Island Foreclosures & Bank Owned
Latest Topsail Island Foreclosures & REO Properties
Panoramic views of the ICW await you in this Surf City diamond in the rough! Has decks off main living area and master bedroom on top floor, too. Interior has 4 bedrooms,...
- 4 Beds
- 3 Baths
- 100195558 MLS
Amazing Investment Opportunity in this 3 bedroom 1 bath home centrally located in Hampstead in close proximity to lots of shopping, dining,schools, and Topsail Beach! Ho...
- 3 Beds
- 1 Baths
- 100193467 MLS
Check out this cute Little Bungalow in the heart of Sneads Ferry. This 3 bedroom 2 bath home wih master suite on the first floor with a huge walk in closet (wow this clo...
- 3 Beds
- 4 Baths
- 100193333 MLS
Panaramic views from the side and back decks of this great Topsail Beach home! Upstairs has updated floors, all appliances and lots of windows for natural light and grea...
- 4 Beds
- 2 Baths
- 100192822 MLS
Own a home in a quiet area but not too far from the beach. End of the road is the water. Home requires some repairs, but what a value for this area. Great schools, minute...
- 3 Beds
- 2 Baths
- 100191767 MLS
Wonderful neighborhood with fabulous potential! This 3 bed, 2 1/2 bath home has a large bonus room and huge backyard! There are so minor repairs and updating that need to...
- 3 Beds
- 3 Baths
- 100191133 MLS
identify with this one. a little tlc needed. view today before its too late. put on your must see list.
- 3 Beds
- 2 Baths
- 100190729 MLS
Wonderful floor plan awaits you in this brick 2 story home in North Shore Country Club! The downstairs master suite, family room and breakfast nook overlook the golf cou...
- 3 Beds
- 3 Baths
- 100187579 MLS
Renovated 4 bedrooms, 2 bathrooms 2016 Clayton home in half acres, no home owner association.
- 4 Beds
- 2 Baths
- 100185654 MLS
Built in 2011 this is a large property with over 3000 HSF, 3 bedrooms and 3.5 baths. All tucked away on a .7 acre lot with a two car attached garage.
- 4 Beds
- 5 Baths
- 100183156 MLS
Dreaming of the beach life? It can come true with this three story home. Beach access is located right down the street. Enjoy your morning coffee or entertain from one of...
- 3 Beds
- 3 Baths
- 100171014 MLS
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Topsail Foreclosure Reports: Topsail Island (3 Towns) Topsail Beach Surf City North Topsail Beach Holly Ridge Sneads Ferry Hampstead
Foreclosures and Short Sales in Topsail Island NC
Due to the rapid rise in real estate values in the Topsail Island area during the mid-2000's there are many opportunities to purchase bank owned, REO or foreclosed properties in the area.
The overall process is much like traditional real estate purchases but with a few exceptions:
- Banks require additional addenda to the standard purchase agreements.
- Banks sometime require access to "intranets" made to facilitate the process.
- Banks often pass special warranty deeds instead of general warranty deeds.
- Banks usually are not interested in repairs to the property and attempt to convey "as is".
There is also another type of property sale called a "short sale". A "short sale" is pre-foreclosure where the bank considers allowing the property to transfer ownership for less than owed by the seller. This allows the buyer to buy property at market value instead of the amount owed. There are quite a few short sale properties listed in the area and this is fast becoming a standard type of transaction.
A few differences with Short Sales:
- The overall process is much longer, usually 60 to 90 days before closing.
- The bank requires proof of funds or pre-qualification before considering your offer.
- The bank many times require access to "intranets" made to facilitate the process.
If foreclosures or short sales in the Topsail Island area interest you, please let us know. We have helped many buyers navigate the uncharted waters of REO purchases.