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Foreclosure in Charleston : Real Estate Advice

  • All322
  • Local Info40
  • Home Buying101
  • Home Selling21
  • Market Conditions20

Activity 13
Thu Feb 11, 2016
Cathy Swider asked:
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Mon Feb 1, 2016
Karen Peyton answered:
Contact an agent near the location of the property. They can pull the listing and provide the necessary information to you and help you through the buying process should you choose to purchase.

Good luck!
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Sat Aug 22, 2015
Chipperwillie.15868 asked:
Thu Aug 14, 2014
lm1683 asked:
I am in the process of finalizing a contract for a foreclosed home. The house is going for at least $20,000 less than the appraised value. That being said, is it more prudent for me to take…
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Fri Aug 1, 2014
Anthony Schibilia answered:
The downpayment does not reflect stipulations listed by the appraisal which is what it sounds like the issue is. You should approach the loan officer about escrowing for these repairs since you cannot do them prior to closing, your other option would be change lenders or contest the appraisal or simply withdraw from the transaction. Option #1 would be the easiest route for you. ... more
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Fri Nov 1, 2013
G.F. Sonny Brown answered:
Hi, phurley39,
I searched the MLS for homes on Rockville and came up blank, but I did fine a moble home in that price range. It also has 3 B/Rs, 2Ba.
It's not as far from Charleston as Rockville, but its not far from there, so your fishing and crabing are close. How would you be purchasing? Cash or financing? I work with some good mortage Brokers which are associated with my Agency.
When would be available to see the property? Now?
Look forward to meeting you.
Sincerely, Sonny Brown to search the Tri-county MLS
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Thu Feb 28, 2013
Jim Bobo, Jr. answered:
Brianvaughters - the foreclosure process is different from State to State, and in SC can result in the Court of Common Pleas issuing a Court Order to the Master in Equity to convey the property to the new owner via a 'Master's Deed". This is when ownership legally changes hands. You can go to the Court House and ask for a copy of the deed or you can pull it up on-line after it has been processed. I strongly doubt if a property management firm would have continued to collect rent from anyone after a foreclosure sale without legal authority to do so because of the scrutiny foreclosures receive. ... more
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Wed Jul 4, 2012
David and Veronica Rudick answered:
The closing attorney will research "Title" prior to closing. The Preliminary Title report is a document which is the Title search for any "clouds" or items against the Title. If there are any encumbrances from past debt or mechanics liens, bank liens etc., they will be found prior to closing. The Title Insurance when purchased will protect you against anything which was not found in the search. ... more
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Fri May 18, 2012
Joshua Calvert answered:
It's still possibe to rent because the limitations for rentals are a lot less strict than those set by a lender at a bank. A lot of people in todays economy have had to foreclose on their home and are now renting. I've personally represented 3 different clients this year with foreclosures on their record and they got into a rental just fine. Rental management companies are aware that there are a lot of poeple with foreclosures and as long as you're on time with all of your other bills you should be fine. Lucky for you, because of the back log in foreclosure processing I wouldn't expect your door to be nailed shut any time soon. However, I would definitely take it very seriously. Another option you can exercise is selling it by short sale or asking the bank if they would allow you to give them the "Deed in lieu of foreclosure". If you find a real estate agent to list your home with and inform the bank that you are going to try and sell it as a short sale the bank will usually hold off foreclosure efforts. The "deed in lieu of foreclosure" option basically allows you to voluntarily give the deed to your house back to the bank so they don't have to try and kick you out. This looks better on your credit and is mutually beneficial for you and the bank. Unfortunately, both options mean you have leave your house. If you are in need of further assistance I would be happy to help you! Please give me a call at 843-789-9860 so we can talk about what I can do for you! You can also visit me on the web at or at Thanks Dao! Have a great day! ... more
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Sat Aug 14, 2010
Stephanie Davis answered:
It looks like the lender is Washington Mutual and that the borrower is still in control of the property. It has been on the market for nearly four years. The listing says it's a short sale.

If you'd like to see the home or get more information on it, let me know.

Carolina One Real Estate
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Thu Aug 14, 2008
David Wertan answered:
Joan Carol, I believe that now is the time, prices have fallen and they have fallen sharply on high end homes as the buyers for those homes cannot typically buy without selling their other home to step up. also, there have been a lot of development of higher end properties over the past few years and there are only so many buyers that can afford the million dollar plus price tags of these properties and thus a lot of them are on the market. So, don't hesitate, call your Realtor today and if you don't have one give me a call. I live on the ICWW myself off the Stono River and have for 14 years and thus know the waterway and the properties very well. Sincerely, David Wertan of Re/Max 843-270-6455 ... more
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Mon Nov 5, 2007
Marty C answered:
Since you have asked this prices in Charleston have been hammered and the sales are very slow. No reason to buy.
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