Real Estate

By Martha Pope – If I can help answer any questions, furnish further information or assist in any way please contact me: martha@pope-realestate.com.

As a Realtor/Broker and an Accredited Buyer Representative I can you with any and all properties listed through our local Multiple Listing Service.

SunsetNC.com

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You can purchase property at a great discount through a Bank Owned or REO Foreclosure. When a  foreclosing lender takes a property back it passes the property on to its REO (Real Estate Owned) department which arranges to sell the property.

Buying a bank owned property can be a complex purchase but an Accredited Real Estate Buyer’s Agent can put their years of experience to work to help you navigate the process and to negotiate the best bargain you can – keeping your financial circumstances and the worth of the property in mind.

Here are some of the advantages and disadvantages of purchasing a REO/Bank Owned property:

Some Advantages

• You can take your time deciding as there is no mandatory fixed time limit as there is in an auction.
• You will have an opportunity to really get a good look at the property to ascertain its condition  and what repairs and maintenance may need to be done.
• The bank makes the arrangements to evict the former owners so there is no inconvenience or awkwardness for the buyer.
• Liens on the property aren’t a factor because the bank itself takes care of that.

Some Disadvantages

• A Bank/REO Owned property may be more expensive to purchase than one that is acquired during the pre-foreclosure phase. Even though the property is unsold, it is still unlikely that a bank will sell it at rock bottom prices. Sometimes the price fixed by the bank is more than the market value of the property. Your Accredited Real Estate Buyer’s Agent can best advise you on the property’s value as an opportunity.
• In many cases a bank will want to dispose off the property in an as-is condition. To protect yourself from having any nasty surprises your a good Accredited Real Estate Buyer’s Agent will put in an ‘inspection contingency’ condition. This is to give you the right to inspect the property and rescind your offer if the property is fails to measure up to.
• Banks are not required to issue a Property Condition Disclosure Statement. However, if a qualified, Accredited Real Estate Buyer’s Agent is involved, he/she will provide a Property Condition Disclosure Statement to you.

In purchasing a Bank Owned/REO property you will have to make your offer to the bank. Even though the auction was not successful the bank is still going to attempt to get the best price they can. When you make an offer, the bank will counter your offer with one that is generally higher than your offer. You will want to settle on a maximum price you are willing to offer and then make a final offer. Thereafter it will be put submitted for the bank’s approval after which a decision will be taken.

Purchasing an REO or bank owned property can be a complex purchase. As an Accredited Real Estate Buyer’s Agent I put my years of experience to work to help you navigate the process for a beneficial outcome. I can help you to negotiate the best bargain you can keeping your financial circumstances and the worth of the property in mind.

My website http://pope-realestate.com contains current, frequently updated listings of all foreclosures in Brunswick County (homes & land) as well as Wilmington, NC, Wrightsville Beach, NC and Carolina Beach, NC

For more information on these or any other foreclosures please contact Martha Pope:
email: martha@pope-realestate.com
phone: 910.619.7673

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1470 Hickman Rd NW Calabash, NC 28467-1713
Listing Price: $179,900

Directions South on 17 past Brunswick Plantation, veer right on Hickman Rd, go 3.2 miles and house on right (#1470 on mailbox)with sign. Last house on right just before Indigo Farms.

An incredibly charming home! At one time it was the living quarters of the authentic Causeway Motel at OIB and was moved to the country and COMPLETELY remodeled and refurbished-SO tastefully. Beautiful original hardwood floors and partial cypress panelling but everything else is brand new and all to code. Gorgeous large kitchen w/ stainless appliances, window seat, and tin ceilings and brand new bathrooms, new roof, new heating and air, new insulation – everything NEW. Located on almost 1/2 acre just about across from Crow Creek Golf Course and has a huge deck in the back with complete privacy. Brand new garage built on – this is country living at its finest with easy access to everything!

Presented By:	Martha Pope	Pope Real Estate
	Primary: 910-754-7673 Secondary: 910-619-7673 Other: E-mail: marpope@atmc.net	1782 Shallotte Inlet Drive Shallotte, NC 28470 910-754-7673 Fax : 910-754-7677 See our listings online:
May 2010	Web Page: http://pope-realestate.com	www.pope-realestate.com

This beautiful oceanfront home is situated on a 0.373 acre lot. Its a great rental!
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As an Accredited Buyer Representative I can furnish information and represent you with regard to any properties in the Multiple Listing Service.

For more information on this or any other property anywhere in the area please contact me martha@pope-realestate.com.

Oceanfront On Ocean Isle Beach! 249 W First St

One-half of duplex in premier oceanfront location on west part of beach. Extra wide and extra deep lot.

Completely renovated and beautifully appointed. This is your affordable way to own a gorgeous 4 BR/4 bath oceanfront home and share 50% of the expenses. [Read more…] about Featured Area Property