Distressed Properties include Short Sales offered by sellers, scheduled Foreclosure Sales and Bank Owned Properties offered by lenders.
A "Short Sale" is when the lien holders of property are asked by a seller to agree to accept less than what they are owed in order to facilitate sale of that property. Such transactions are rare for homes and essentially non-existent for lots in the Upstate.
A "Scheduled Foreclosure Sale" is a court-ordered sale of a foreclosed property. These sales are usually conducted monthly by the Clerk of Court of the county in which the property is located.
A "Bank Owned Property" is a property that is owned or controlled by a bank or another financial institution. These include properties that have been foreclosed and properties where an owner has surrendered title in lieu of foreclosure in order that both the lender and the owner avoid foreclosure proceedings. The inventory of Bank Owned homes has diminished as the pipeline of home foreclosure sales has slowed. There remains a substantial inventory of lots in this category, however.
The scope of the on-line listings provide through the link below sweeps in the Short Sale and Bank Owned Properties in Anderson, Oconee and Pickens Counties as offered through the Western Upstate Multiple Listing Service. The link also provides access to the South Carolina Judicial Department website where foreclosures can be found on a county by county basis. Click here to explore Short Sale, Foreclosure and Bank Owned Properties. | 