Short Sales vs. Foreclosures

As a home buyer, it is important to know the difference between a short sale and a foreclosure.

During the boom time in real estate the answers were much different than today. At the peak of the market, the definition of a short sale was a property that sold the day it was listed. The term foreclosure was almost a foreign term because sellers were able to sell their homes if they were having trouble making their payments and quite frankly, there were not many.

So what exactly is a "Short Sale"?

A short sale is the process of a seller obtaining an offer on their property and then trying to convince the bank to accept less than what is due.  For example, a seller owes $250,000 on the house, but can only get $200,000. The bank has a lien on the property and this debt must be cleared in order for the house to be sold.

The difference between a short sale and a foreclosure.When considering looking at short sales or foreclosures, you must first understand that a short sale is a much more difficult property to obtain. The two are like apples and oranges when it comes to a buyer's experience.

What Makes a Foreclosure Different Than a Short Sale?

A foreclosure is a property that has already been taken over by the bank. The seller was unable to keep up with payments and simply had to relinquish the property back to the bank. Foreclosures are fairly straight-forward sales because the banks typically do not want to be "home owners"; they want to be "home loaners".

Your Time Is Valuable

When looking at a short sale property, keep in mind that you may not be able to buy it.

Ask yourself this question, "Can I put my plans on hold and wait 4 months (or even a year) for the bank to decide to accept a short sale?"

If the answer is no, then avoid short sales. If you are okay with waiting, then a short sale may prove to be a good choice if the price seems right.

Foreclosures are More Straight Forward

With bank owned homes, you can typically close quickly and the main factor to keep in mind is that many people look for foreclosures, so if you find one you like act quickly, and secondly, they are sold as-is. The sellers generally do not make repairs on the property.

We have included all of the areas short sales and foreclosures. If you need more specific explanation or would like to know what pitfalls to watch out for when pursuing these properties, feel free to let us know.

Sort By: MLS# Price City Subdivision Beds Baths   Limit: 10 | 20 | 30 Per Page

showing 211-239 of 239

189  Cableswynd Way Summerville, SC 29485
$170,000 - 189 Cableswynd Way Summerville, Sc 29485 @ Highwoods Plantation
MLS#
BR1310965
Class:
Residential
Status:
Active
Beds:
3
Baths:
2 Full / N/A
This almost new home has everything for someone wanting a comfortable home with all you really need...open familyroom with fireplace, kitchen with plenty of cabinets and an island to work on and a spacious pantry. The casual eating area over looks the back yard with lots of windows and holds a large dining table. master bedroom has a huge clo...

107  Thrush Lane Summerville, SC 29485
$192,500 - 107 Thrush Lane Summerville, Sc 29485 @ Oak Knoll
MLS#
BR1303838
Class:
Residential
Status:
Active
Beds:
4
Baths:
2 Full / 1 Half
Large lot, wonderful location, and at the beginning of a cul-de-sac. This is a home you don't want to miss. The HVAC system has been replaced; as well as both garage doors. The roof looks to be newer on this home. Inside you will find beautiful wood flooring in the foyer, formal living, and formal dining area. Ceramic tile can be found in the...

288  Reagan Dr Summerville, SC 29483
$89,000 - 288 Reagan Dr Summerville, Sc 29483 @ Cedar Springs
MLS#
BR1300400
Class:
Residential
Status:
Active
Beds:
2
Baths:
2 Full / N/A
SHORT SALE - NEED BUYER WITH PATIENCE! Very little maintenance required for this nice 1-story brickfront modern townhome, centrally located close to I-26, Carnes Crossing and Goose Creek Wal-Mart. Only a 15-minute drive to Boeing/CAFB, and a 10-minute drive to Naval Weapons Station. Two bedrooms, two bathrooms, open plan layout that includes ...

111  Garden Hill Rd Summerville, SC 29483
$189,900 - 111 Garden Hill Rd Summerville, Sc 29483 @ Garden Hill
MLS#
BR1312824
Class:
Residential
Status:
Active
Beds:
4
Baths:
2 Full / N/A
Possible Short Sale. Pulling up you will notice the nice yard that borders 5 acres of DOT woods! Mature trees and nice yard. In the heart of Summerville this home has 2 down stairs bedrooms. The upper Master is spacious, there is a large loft area overlooking the Great room with a vaulted ceiling. There is another large room upstairs being us...

104  Dahlia Cir Summerville, SC 29483
$59,900 - 104 Dahlia Cir Summerville, Sc 29483 @ Robynwyn
MLS#
BR1228055
Class:
Residential
Status:
Active
Beds:
3
Baths:
1 Full / 1 Half
***UPDATED RIDICULOUS PRICING AND LET'S GET IT OFF THEIR BOOKS! *** BANK OWNED HOME AND SCREAMS OPPORTUNITY! This BRICK (3) bedroom, (1.5) bath home with over 1100 square feet listed at $74,900 is already priced below the average PPS for comparable properties but with that said, THIS SELLER IS STILL VERY MOTIVATED! Sitting in a cul-de-sac, th...

1459  Old Dairy Rd Summerville, SC 29483
$275,000 - 1459 Old Dairy Rd Summerville, Sc 29483 @ Arcady Woods
MLS#
BR1222861
Class:
Residential
Status:
Active
Beds:
4
Baths:
3 Full / 1 Half
Large plantation-like home sitting on an acre, and just minutes from downtown Summerville, great shopping, grocery stores, restaurants. Huge front yard, circular driveway, fenced backyard with separate fenced area ideal for pets separated from the rest. Easily accessible to Jedburg Road, I-26, and Hwy 78. The first thing you notice as you approa...

402  Woodbridge Dr Summerville, SC 29483
$150,000 - 402 Woodbridge Dr Summerville, Sc 29483 @ Sangaree
MLS#
BR1310572
Class:
Residential
Status:
Active
Beds:
4
Baths:
2 Full / N/A

9312  Harroway Rd Summerville, SC 29485
$159,900 - 9312 Harroway Rd Summerville, Sc 29485 @ Wescott Plantation
MLS#
BR1213730
Class:
Residential
Status:
Active
Beds:
4
Baths:
2 Full / 1 Half
House located in Wescott Plantation in Dorchester II school district. Wescott has has a full golf course and club house with restaurant that has an optional golf memebership that is run by the City of North Charleston. This home is near Boeing, Bosch, Chrysler, Charleston USAF Base and Charleston Naval Weapons Station which is now called Join...

205  Ashford Cir Summerville, SC 29485
$169,000 - 205 Ashford Cir Summerville, Sc 29485 @ Summerville Crossing
MLS#
BR1225675
Class:
Residential
Status:
Active
Beds:
4
Baths:
2 Full / 1 Half
Beautiful wood floor traditional with fenced yard backing to protected wetlands. Floor plan includes foyer, formal dining room, greatroom with woodburning fireplace, large informal dining off updated kitchen with large walkin pantry. All stainless steel appliances installed in the past year. Sliding doors open to patio area with water feature...

102  Black River Dr Summerville, SC 29485
$85,000 - 102 Black River Dr Summerville, Sc 29485 @ The Lakes Of Summerville
MLS#
BR1312677
Class:
Residential
Status:
Active
Beds:
2
Baths:
2 Full / 1 Half
Potential Short Sale! End unit! Home shows like a model! Dual masters, one upstairs and one down. Both have private bath, ceiling fans and walk in closets. Fireplace in living room. Upgraded stainless appliances in kitchen. Screened in porch on back looks out at pond.

123  Pine Valley Dr Summerville, SC 29483
$449,950 - 123 Pine Valley Dr Summerville, Sc 29483 @ Pine Forest Country Club
MLS#
BR1220926
Class:
Residential
Status:
Active
Beds:
5
Baths:
4 Full / 1 Half
Visit this lovely Pine Forest Home located on hole #4 of the prestigious Pine Forest Country Club Golf Course. Greeted by Lush Landscaping this Spacious Floor Plan of 4,070 sqft was designed for Comfort yet offers Style and Class Second to None Allowing the Perfect Spot for Entertaining Guests or Creating A Quiet Retreat for Yourself. Very fu...

119  Hope Dr Summerville, SC 29485
$139,900 - 119 Hope Dr Summerville, Sc 29485 @ Rose Hill
MLS#
BR1305478
Class:
Residential
Status:
Active
Beds:
6
Baths:
3 Full / N/A
Make an offer! REO PROPERTY - BANK OWNED. PROPERTY SOLD "AS IS" WITHOUT REPAIR, WARRANTY OR SELLER DISCLOSURE. The Listing Broker and Seller assume no responsibility and make no guarantees, warranties or representations as to the availability or accuracy of the property information, photographs, or other information depicted or described herein.

111 East Walnut Cir Summerville, SC 29485
$64,900 - 111 East Walnut Cir Summerville, Sc 29485 @ Sprucewood
MLS#
BR1313422
Class:
Residential
Status:
Active
Beds:
3
Baths:
1 Full / 1 Half
Home has newer furnace and roof. Needs some TLC. Great easy flipper. Garage has been converted into a bedroom/den/familyroom, has heat and air. Owner is replacing air condenser.

201  Burnham Road Summerville, SC 29485
$129,000 - 201 Burnham Road Summerville, Sc 29485 @ Quail Arbor
MLS#
BR1303806
Class:
Residential
Status:
Active
Beds:
3
Baths:
2 Full / N/A
Nice open floor plan beckons as you walk in the front door with tile entryway, soaring vault ceiling, dining area separated from Great Room by beautiful columns, gas plumbed fireplace, convenient galley kitchen and eating area has tile floor and is to side of Great Rm. Split Bedroom plan offers large bedrooms & privacy for master suite. Maste...

398  Scotch Range Rd Summerville, SC 29483
$79,900 - 398 Scotch Range Rd Summerville, Sc 29483 @ West Highland Acres
MLS#
BR1313097
Class:
Residential
Status:
Active
Beds:
3
Baths:
1 Full / 1 Half
This brick ranch is located in West Highland Acres subdivision in Summerville, and has approximately 1159 square feet, a detached 1 car garage, a large .67 acre lot. The eat in kitchen is spacious, and the family room offers a fireplace. West Highland Acres is located just a few minutes from downtown Summerville and I26.

5881  Bears Bluff Rd Wadmalaw Island, SC 29487
$1,275,000 - 5881 Bears Bluff Rd Wadmalaw Island, Sc 29487 @ Wadmalaw Island
MLS#
BR1119909
Class:
Residential
Status:
Active
Beds:
2
Baths:
2 Full / N/A
LENDER OWNED!! LARGEST RECREATIONAL TRACT CURRENTLY AVAILABLE ON WADMALAW! PROPERTY CONSISTS OF TWO ADJACENT TRACTS TOTALING 118 ACRES. TOPOGRAPHY HAS A NICE ROLL WITH SUBSTANTIAL CHANGES IN ELEVATION. BEAUTIFUL NATURAL HARDWOOD/ PINE FOREST, YOUNGER VOLUNTEER PINE, BEAUTIFUL HIGH HILL WITH MARSH VIEWS AND A 3.5 ACRE SALTWATER POND. A BIG SAL...

5207  Maybank Hwy Wadmalaw Island, SC 29487
$60,000 - 5207 Maybank Hwy Wadmalaw Island, Sc 29487 @ Wadmalaw Island
MLS#
BR1108153
Class:
Residential
Status:
Active
Beds:
3
Baths:
1 Full / N/A
Lowest priced house on Wadmalaw Island! Handy man special in need of TLC. Great fenced in yard perfect for pets or large garden. Quiet area and great location.

201  Briarwood St Walterboro, SC 29488
$32,500 - 201 Briarwood St Walterboro, Sc 29488 @ Sherwood Forest
MLS#
BR1300953
Class:
Residential
Status:
Active
Beds:
2
Baths:
1 Full / N/A
This home is a fixer-upper and is priced to sell. It features 2 bedrooms, 1 bath, Living Room, Kitchen and Separate Dining Room. Both bedroom, living room, dining room have hardwood floors. The front porch and garage has been enclosed for more square footage, central heat and air. If sq. ft. is important please measure.

1480  Brittlebank Rd Walterboro, SC 29488
$47,000 - 1480 Brittlebank Rd Walterboro, Sc 29488 @ None
MLS#
BR1302455
Class:
Residential
Status:
Active
Beds:
4
Baths:
2 Full / N/A
BANK OWNED 1999 DW on a large, .70 acre lot. 4 bedrooms/2 baths, spacious kitchen, family room with fireplace and separate living room. Needs some TLC but priced to move!

821  Macon Ln Walterboro, SC 29488
$75,000 - 821 Macon Ln Walterboro, Sc 29488 @ Oak Hill
MLS#
BR1307530
Class:
Residential
Status:
Active
Beds:
3
Baths:
2 Full / N/A
Home situated on two acre lot. Three bedeooms two baths with open area consisting of kitchen, dining room with living room on opposite side. Backyard fenced for pets and to watch the children play. A 30x30 metal building is on the lot which can be used as workshop, double car garage,storage, or any other use. Lot is near dead end street which...

228  Lakeside Dr Walterboro, SC 29488
$215,000 - 228 Lakeside Dr Walterboro, Sc 29488 @ Forest Hills
MLS#
BR1307302
Class:
Residential
Status:
Active
Beds:
4
Baths:
2 Full / N/A
Welcome Home to Forest Hills!! One of the Most Desirable Subdivisions in Walterboro. This Brick home has 4 bedrooms, 2 baths with over 2300 square foot, over looking Gladys Whidden Park. The yard has mature azeales, dog woods, and oaks. This home features hardwood floors through-out, granite counter tops, tile floors, large open kitchen, plen...

402  Sarah St Walterboro, SC 29488
$137,000 - 402 Sarah St Walterboro, Sc 29488 @ Eagles Nest
MLS#
BR1217691
Class:
Residential
Status:
Active
Beds:
2
Baths:
2 Full / N/A
MAKE AN OFFER! Great home at a great price! Very close to the hospital, where walking trails are available! This home is in wonderful condition with a BRAND NEW ROOF installed in 2009! THERE IS POTENTIAL FOR ADDING A 3RD BEDROOM OVER THE GARAGE (MANY HOMES IN THIS SUBDIVISION HAVE DONE THIS!) This home features a larger than average kitchen w...

1888  Sidneys Rd Walterboro, SC 29488
$47,000 - 1888 Sidneys Rd Walterboro, Sc 29488 @ Edgewater Park
MLS#
BR1305258
Class:
Residential
Status:
Active
Beds:
4
Baths:
2 Full / N/A
MOTIVATAED SELLERS-BRING ALL OFFERS!!! This hard-to-find 4 bedroom/2 bath home is good rental property. Very close to elementary school and Veteran's Victory House. Start building your retirement portfolio today.

319  Teakwood Dr Walterboro, SC 29488
$139,900 - 319 Teakwood Dr Walterboro, Sc 29488 @ Silver Hill
MLS#
BR1301190
Class:
Residential
Status:
Active
Beds:
4
Baths:
2 Full / 1 Half
PRICE DROP!!! The sellers are giving a $3,000 allowance for new carpet. This 4 bedroom 2.5 bath home is located in the desirable neighborhood of Silver Hill's on a large corner lot. You could have a nice little garden with fresh vegetables and still have lots of room to run and play in this good size yard. The home offers a nice Formal Dining...

75  Chrysler Ln Walterboro, SC 29488
$59,900 - 75 Chrysler Ln Walterboro, Sc 29488 @ None
MLS#
BR1303352
Class:
Residential
Status:
Active
Beds:
3
Baths:
2 Full / N/A
Nice 1997 DW Home with attached 2 car garage, on 1.90 Acres, 3 Bedrooms and 2 Bathrooms, Brick skirting. Seller put in FHA foundation for his loan. Newer carpeting and vinyl. Dishwasher is staying, but bring your stove & refrigerator. Just a little paint and make this home! Kitchen has nice cabinets,counter tops and an Peninsula Island Bar. M...

4  Fairway Ct Walterboro, SC 29488
$159,900 - 4 Fairway Ct Walterboro, Sc 29488 @ Dogwood Hills
MLS#
BR1309777
Class:
Residential
Status:
Active
Beds:
5
Baths:
3 Full / N/A
Great Opportunity to purchase in Dogwood Hills Country Club. This is a well built traditional style 2 story home. Built in the early 80's, this home feautres a spacious floor plan that would be great for any family! Currently the home is in need of some maintenance and repairs, but once completed any buyer would have a remarkable showcase hom...

464  Carolina Circle Walterboro, SC 20488
$45,000 - 464 Carolina Circle Walterboro, Sc 20488 @ Carolina Terrace
MLS#
BR1303993
Class:
Residential
Status:
Active
Beds:
3
Baths:
1 Full / N/A
PRICED TO SELL!!!! This home is in a quiet neighborhood located on the outskirts of town. This home has 3 bedrooms, 1 bath, family room with built-in entertainment center, Kitchen and dining combination. There is a deck out back and the backyard is fenced-in. Great property for the money! Call for more details today.

108  Blue Crab Ln Wando, SC 29492
$795,000 - 108 Blue Crab Ln Wando, Sc 29492 @ Yellow House
MLS#
BR1305964
Class:
Residential
Status:
Active
Beds:
6
Baths:
5 Full / 1 Half
***LENDER OWNED*** Southern Estate Style home sits well off Clements ferry Road on 3.13 acres with unobstructed views of the Cooper River. Lot Close to Daniel Island Marina, Beresford Hall etc...House sits on a bluff...First level is finished- could be used as separate living space, nanny suite office, game/media room etc. Elevator goes to al...

124  Memes Way Wando, SC 29492
$890,000 - 124 Memes Way Wando, Sc 29492 @ Cainhoy
MLS#
BR1029980
Class:
Residential
Status:
Active
Beds:
5
Baths:
5 Full / 1 Half
This home will take your breath away! The exterior is accented with stone, surrounded by massive porches and balconies. Enter to the marble foyer, detail molding on the ceiling (see picture), formal dining room is on your right and living room with grand fireplace on your left. The open floor plan leads you to the spectacular great room with ...

Broker Reciprocity The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Charleston Trident Multiple Listing Service. Real estate listings held by brokerage firms other than Carolina One Real Estate are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.

Copyright 2013 Charleston Trident Multiple Listing Service, Inc. All rights reserved.

showing 211-239 of 239

Full MLS Access









Search Advanced Search Reset Search Jump to Area Search

Area Information

Find homes for sale and explore any area of Charleston by using the links below.

Search Active Homes for Sale Below

Hanahan 162

Buying a home from you was like buying from a family member. You were honest, straight-forward and I could tell you were really looking out for my best interests at every turn. Beth Epstein

Well your low key approach worked. Not only did you sell our house in this challenged market in 23 days, you found us a great new home and the transition was seamless! We are really happy in our new home. Brian and Wendy Rollings

You were very honest, direct and I knew you were genuine when you talked us out of buying a house because of the location. Thanks for everything!. Kirk Matenaer

I commend you particularly for politely putting up with my sometimes cantankerous, if not outright offensive, goading for results; I now realize I was in excellent hands all along, and I could not have asked for better or more courteous direction in the whole process. Dr. Adam Smolka

Your research and explanation of the entire process left us feeling confident in your abilities to follow through and get the deal done like it should be. Bill Chakos

Your experience, your calming demeanor and your ability to consult us in such a streamlined fashion was invaluable. Tonya Chakos

We sincerely believe Nat's competence, hard work, attention to detail, and most important his immediate action were the reasons our home sold in one day. We are now able to make plans to relocate. Victoria and Daniel Doyle