Myrtle Beach Foreclosures & Bank Owned Properties

The Myrtle Beach Real Estate market, as in most other sections of the country, unfortunately, has seen an increase in distressed property listings.. This website has been developed to showcase some exceptional opportunities in the Myrtle Beach, SC area. Our hot listings represent, in our opinion, the best market values currently available. Please note: they are subject to change.

Whether you are a seasoned buyer in foreclosures and bank-owned properties or a novice, you need to understand that such transactions do not operate like typical real estate sales. Instead of negotiating with an individual owner, you are negotiating with a lending institution's special department charged with handling the sale. There is urgency in acting quickly once you identify a property that meets your needs, but once contact is made with the bank, the process may drag on for weeks. It is critical that you work with a realtor who is prepared to represent your best interests. It is also important that you be able to act immediately on your offer if it is accepted. We therefore recommend that you submit a letter of bank loan approval with each offer. This step will ultimately save you a great deal of time in whether or not your offer is accepted!

One other caution: You need to work with a realtor professional who is familiar with the local market to help you establish whether or not a bank owned property is indeed a "bargain." Only someone who knows the local market can help you determine if the price is comparable to other homes recently sold in the neighborhood, or if the costs of renovation will price the property outside of a comparable value. Don't rush in thinking all foreclosures are bargains and end up paying over market value!

Call me today...Byron MacDonald...toll free at 1-877-607-8616 or 843-222-6879!