Topsail Island Foreclosures & Bank Owned
Latest Topsail Island Foreclosures & REO Properties
Ocean Front with gorgeous Ocean Views in this 3 bed 2 1/2 bath townhome could easily be your for this incredible. Renovations needed due to the flooding of Hurricane Flor...
- 2 Beds
- 3 Baths
- 100201562 MLS
Panoramic water views of Courthouse Bay and New River Inlet! Would be a great place to live year round or use it as a vacation get away! Has 2 bedrooms, 2 full bathroom...
- 2 Beds
- 2 Baths
- 100201316 MLS
Country setting for this three bedroom, two bath double wide situated on 1.44 acres. Large kitchen with breakfast area that leads to back deck. Separate dining room for...
- 3 Beds
- 2 Baths
- 100201299 MLS
Great brick ranch in Sneads Ferry located close to a Marina, shops, restaurants and other services, too. Has a carport, storage room, utility room and an extra room to b...
- 4 Beds
- 2 Baths
- 100198093 MLS
Located on 1.83 Acres and Zoned Highway Business! Constructed in 1960, this three bedroom bungalow has right at 1000 square feet. Over 450 feet of road frontage. Locat...
- 3 Beds
- 1 Baths
- 100197196 MLS
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...
- 4 Beds
- 1 Baths
- 100193467 MLS
Panaramic views from the side and back decks of this great Topsail Beach home! Upstairs has 2 bedrooms, 1 full bathroom, updated floors, all appliances and lots of wind...
- 2 Beds
- 1 Baths
- 100192822 MLS
Brick 2 story home in North Shore Country Club! The downstairs master suite, family room and breakfast nook overlook the golf course. The kitchen has an over abundance ...
- 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
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.