Homes For Sale & Real Estate in Wilmington NC
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    Foreclosures Wilmington NC

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    Foreclosures in Wilmington, NC

    111 Mercer Avenue, Wilmington image
    111 Mercer Avenue, Wilmington $300,000

    Completely renovated classic 1920s bungalow on a large lot with off-street parking, convenient to downtown Wilmington, midtown, and Wrightsville Beach. Enjoy the beautifu...

    • 2 Beds
    • 2 Baths
    • 100342603 MLS
    • ACTIVE Status
    207 Waters Point Court, Wilmington image
    207 Waters Point Court, Wilmington $385,000

    Welcome to this beautiful home in the charming & desirable neighborhood of Rivers Edge! This home is tucked away in a cul-de-sac & draws you in with its beautiful landsca...

    • 3 Beds
    • 2 Baths
    • 100339674 MLS
    • ACTIVE Status
    6825 Wyck Farm Way, Wilmington image
    6825 Wyck Farm Way, Wilmington $359,900

    Conveniently located between Market St and I-40 off Gordon Rd, this gem offers a nearly new roof, great covered front porch, privacy fenced in and landscaped back yard. O...

    • 3 Beds
    • 2 Baths
    • 100343278 MLS
    • ACTIVE Status
    9127 Sedgley Drive, Wilmington image
    9127 Sedgley Drive, Wilmington $364,000

    One owner home just over the bridge from Carolina Beach backs up to undeveloped federal lands that contribute to the quiet and private atmosphere. The living area enjoys ...

    • 3 Beds
    • 3 Baths
    • 100343350 MLS
    • ACTIVE Status
    7810 Olde Pond Road, Wilmington image
    7810 Olde Pond Road, Wilmington $419,900

    Beautiful brick ranch home in the desirable community of Country Haven! This home has a great open floor plan with a huge family room and open kitchen, eat in kitchen an...

    • 3 Beds
    • 2 Baths
    • 100343340 MLS
    • ACTIVE Status

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    Foreclosures Wilmington NC

     

    Foreclosures in Wilmington, NC

    Explore recently foreclosed homes by visiting Jennifer Bullock Team with RE/MAX Executive online or giving us a call. Find us in Wilmington, NC & speak with a realtor!

    In 2009 there were over 2.8 million properties in the United States that were foreclosed. By 2009, one in every 45 homeowners received foreclosure notices. In 2010, 25% of homes sold in Wilmington, NC were considered distressed properties. Distressed means these homes sold as foreclosures or short sales. A short sale is basically, a pre-foreclosure. The term “short” means the bank is willing to be short the money owed on the property, however it can be a very long process. The home is usually in better condition than a foreclosure and the seller usually can provide a history of the property, unlike foreclosures. The similarity between a foreclosure and short sale is the property is usually sold “as-is".

    Foreclosures In Wilmington, NC  - FREE Map Search

     

     

    Advantages of Buying Foreclosures in Wilmington, NC

    There are some buyers that purchase a foreclosed home in Wilmington, NC and they get a steal of a deal. However, there are also potential pitfalls.  Through the foreclosures in Wilmington NC we have seen foreclosed homes that had concrete poured down every drain in the house. This is not always the case, but one does have to be aware of the pros and cons of being involved in purchasing a foreclosed home.    

    The advantages to buying a foreclosed home in Wilmington NC is that most banks are motivated to get a fast sale, which tends to lead to the home being sold below market value.  So many homeowners are upside-down on their mortgages and owe more than the home is worth. Banks want to get as much money back that they can, so there is more potential for bargains.  

    A foreclosed home in Wilmington NC, in a good neighborhood with high resale values can be a good investment. Also banks will sometimes give a buyer closing cost concessions.  The buyer will get a free and clear title, and the buyer will not take on any liens associated with the property.  The banks that deal with foreclosures in Wilmington NC allow inspections and mortgage financing within the normal due diligence period. Foreclosures in Wilmington NC are also good, because the home is vacant, so you don’t have to wait for the seller to move out.

     

    Foreclosures New Hanover County Foreclosures FREE Map Search

     

     

    Disadvantages of Buying Foreclosures in Wilmington, NC

    The disadvantages of buying a foreclosed home in Wilmington NC, is the condition of the home.  Homeowners that are loosing the property due to foreclosures are less likely to take care of it. They just do not have the funds needed to properly take care of the home. Then when the home goes into foreclosure, already in need of repairs, the banks will not do the needed repairs either.

    Depending on the home and repairs needed, it can be hard for the new buyer to get a mortgage on a foreclosed property in Wilmington NC.  Another disadvantage is that the bank cannot provide a completed history of the property’s condition, problems, repairs, and there is additional paperwork associated with foreclosures.

     

    Foreclosures Leland, NC Real Estate Foreclosures FREE Map Search

     

     

    If you would like additional information on foreclosures in Wilmington, NC feel free to call, text or email us at any time.  (910)547-8535

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    5815 Oleander Drive #220

    Wilmington NC 28403

    (910) 547-8535

     

    Jennifer Bullock Team with RE/MAX Executive

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