Scott Lindsley, Realtor
704 E. 36th Street
Charlotte, NC 28205
ph: (704) 906-1645
fax: (877) 470-0187
scott
Like most of the country Charlotte has had a large number of properties that are either in the foreclosure process or have been foreclosed and are now bank owned REO properties. They can be found in all areas of town and for all types of properties: Commercial, multi-family, single family homes, condos, and townhomes. Dilworth, Myers Park, Ballantyne, Lake Norman, Lake Wylie, Mint Hill, Eastover, Chantilly, NoDa, uptown, South End, and Wilmore are just a few of the areas where I've been helping clients find great deals. Uptown condos, lakefront homes, and gold course homes are out there as well.
Below you'll find links to articles about these type of properties, information about buying them and what to be aware of, statistics for foreclosure numbers in many parts of town. Still have questions? Feel free to contact me and I'll do my best to answer them or lead you in the right direction.
Remember that the banks pay the buyers agent their commission, but the buyers agent WORKS FOR YOU. The listing agent works FOR THE BANK - their job is to get the best price and best deal for the seller, the bank, our job is to get the best deal for you, the buyer. I specialize in these type of transactions and have worked for home buyers and investors for these types of properties for years -- I have over 12 years experience as an appraiser prior to my 10 years working in brokerage. I will negotiate vigorously to get you the best price and terms possible.
When you hire me to work on your purchase, you also hire my partner in the business, Mike Feehley. We both concentrate of these types of transactions and work hard to make sure you as our client are 100% satisfied.
FHA, HUD homes, Fannie Mae, Freddie Mac, bank-owned foreclosed homes are all available now, waiting for buyers. If you are ready, have financing or cash, now is a great time to buy. My commitment to you, as a Broker and Realtor, is to make the process as easy for you as I can while getting you the best possible price!
REAL ESTATE AGENTS / BROKERS / REALTORS: Want assistance finding great properties for your clients but aren't sure about locating great foreclosure deals or have limited experience? I'm happy to work on a referral basis - you work with them or I provide the info and expertise...contact me for more information and details.
Some Statistics: According the national delinquency survey from the Mortgage Bankers Association (MBA), the percentage of mortgage defaults and loans in foreclosure for the first quarter of 2009 was 12%. 1.9 million foreclosure filings were recorded in the first six months of 2009. A National Association of Realtors (NAR) member survey shows that short sales and foreclosed properties accounted for a third of the existing-home sales in July 2009. Short Sale Defined: A short sale is a situation in which the seller owes more money on the loan (and any other liens on the property) than the sale of the property will likely produce and the seller is unable to pay the difference at closing. In a short sale, the lender has not yet foreclosed on the property, which provides a window of opportunity for the owner to sell the property in order to at least partially satisfy the amount owed to the lender(s). The Advantages of a Short Sale vs. Foreclosure (for a homeowner or a saller -- opposite might be true for a buyer): A short sale is considered preferable to a foreclosure because a short sale won’t damage the distressed owner’s credit as much as a foreclosure. If the borrower is still current with other payments, a short sale may lower the borrower’s credit score by as little as 50 points. Deed in Lieu of Foreclosure Defined: A deed in lieu of foreclosure occurs when the borrower agrees to trade the property to the lender in exchange for the cancellation of the note. The lender will be able to take back the property much sooner than going through the foreclosure process, which lessens the probability of the property being in disrepair as well as eliminating the lenders costs to foreclose. Lender are typically less willing to consider a deed in lieu of foreclosure in declining markets. Foreclosure Defined: Foreclosure is a legal process by which a defaulted borrower is deprived of his or her interest in the mortgaged property. The process begins with Pre-foreclosure, the period begging with the initial mortgage default up to when the distressed property is sold. The lender will then send an official Notice of Default (NOD) informing the borrower that he or she has defaulted on the mortgage. The NOD formally begins the foreclosure period. The NOD will also outline the reinstatement period. The reinstatement period is the time in which the borrower may reinstate the loan – making required payments and bringing the account into good standing. If, after receiving the NOD, the borrower does not reinstate the loan, a Notice of Sale is recorded. The property then goes to foreclosure and is auctioned to the highest bidder. Following the foreclosure sale there is a redemption period during which the owner has the right to redeem real estate typically by paying the sales price, interest and other costs associated with the foreclosure. REO: An Acronym for real estate owned (aka bank owned), REO is the status of the property when the foreclosure sale is not successful and when ownership of the property is transferred involuntarily to the lender. ![]() ![]() ![]() ![]() Realtor / broker / buyers agent for center city and Uptown Charlotte - homes, houses, condos, townhomes. Great deals including foreclosure and bank owned condos. Luxury penthouse units, efficiency and loft condos, townhomes and short sale properties. My Townhome, McDevitt Agency, Helen Adams Realty, Allen Tate and Center City realty all specialize in this market. Email for tips and information about buying real estate in Center City Charlotte. Avenue, Trademark, The Vue, Silos, The Frederick, Ratcliffe, Catalyst, Fourth Ward, 5th and Poplar, The Jefferson, Wesley Heights, Wilmore, Dilworth, Sedgefield, Southend, Park Avenue, The Arlington Pink Building, Camden, Myers Park, Elizabeth, Midwood, Plaza, NoDa, Villa Heights, Belmont, Biddleville, Smallwood, 5 points, Scott Lindsley, Chantilly... |
While there are many foreclosed and bank owned properties on the market now, others are coming on the market daily. Sign up to see what is currently available, but also receive morning emails with newly listed properties or those that have had price reducations.
No obligation, no fees -- hopefully you'll see the value in my service, my experience, and my ability to find great deals and will choose to work with My Townhome Realty!
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Scott Lindsley, Realtor
704 E. 36th Street
Charlotte, NC 28205
ph: (704) 906-1645
fax: (877) 470-0187
scott