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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.
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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.
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
$129,000 - 2362 Parsonage Rd Charleston, Sc 29414 @ Parsonage Point
- MLS#
1305872- Class:
- Residential
- Status:
- Active
- Beds:
- 2
- Baths:
- 1 Full / 1 Half
End unit "townhouse style" 2-story condominium. Live in this marsh and Ashley River fronting community with a deep water boat ramp, just a few minutes from schools, shopping- CVS, BiLo, Publix, Super WalMart,Citadel Mall, Great Restaurants - Gennaro's Little Italy, Back Home Restaurant, Early Bird Diner,Ladles, South of Philly, Al di La, Red ...
$50,000 - 2447 Woodstock Ave North Charleston, Sc 29406 @ Northwoods Villas
- MLS#
- 1303682
- Class:
- Residential
- Status:
- Active
- Beds:
- 2
- Baths:
- 1 Full / 1 Half
LOCATION, LOCATION, LOCATION This is a great opportunity for a home buyer or investor. Check out the competition and see why this home offers such great value. As you enter the front foyer this opens into the family room with wet bar and feature fireplace. This leads into the generously appointed dining room overlooking the spacious kitchen. ...
$118,773 - 1339 Stone Post Rd Charleston, Sc 29412 @ Clarks Sound
- MLS#
- 1224598
- Class:
- Residential
- Status:
- Active
- Beds:
- 3
- Baths:
- 1 Full / N/A
This home is a three bedroom, one bath home on a large lot on James Island. There is work that needs to be done but the bones are great with the hardwood floors, brick structure and large lot. This will make for a great first home or an investment property.
$94,900 - 158 Dawsey Dr Bonneau, Sc 29431 @ Bonneau Village
- MLS#
- 1312257
- Class:
- Residential
- Status:
- Active
- Beds:
- 3
- Baths:
- 1 Full / 1 Half
BRICK HOME IN BONNEAU BEACH! On a double lot-close to boat landing, park, community center. there is a LARGE screened room which also walks thru to back screened room. Yard fully enclosed w/chainlink on 3 sides and wooden on backside. Dbl gated entrance. this home is being sold as is and needs some tlc. but try to find a brik home on 2 lots u...
$44,900 - 52 Stratton Dr North Charleston, Sc 29420 @ Stratton Capers
- MLS#
- 1300657
- Class:
- Residential
- Status:
- Active
- Beds:
- 3
- Baths:
- 1 Full / N/A
BANK OWNED! GREAT INVESTMENT OPPORTUNITY PRESENTLY RENTED FOR $550 PER MONTH! 1140 SF, 3 bedrooms, 1 bath on a corner lot. Dorchester District II Schools! Hardwood floors throughout. Kitchen and bath with ceramic tile floors. New wooden fence. *****ATTENTION INVESTORS!!*** There are 19 total properties for sale that can be sold individually o...
$48,800 - 2740 Constitution Ave North Charleston, Sc 249405 @ Waylyn
- MLS#
- 1010379
- Class:
- Residential
- Status:
- Active
- Beds:
- 3
- Baths:
- 1 Full / N/A
Lender owned property with current rent of $650/mo. with stable tenant. That is a 16% gross return at this list price! Hardwood floors throughout and under carpet in bedrooms. Central HVAC, storm windows and nicely insulated attic makes this a cozy home. Come check it out. Monthly rental income $650.00
$40,000 - 116 Farm Rd Goose Creek, Sc 29445 @ Pineview Acres
- MLS#
- 1302844
- Class:
- Residential
- Status:
- Active
- Beds:
- 2
- Baths:
- 1 Full / N/A
Great little house for investment or as a starter home. Year built is estimated. Buyer to verify.
$37,000 - 303 Andrea Ct Hanahan, Sc 29410 @ Otranto Station
- MLS#
- 1302731
- Class:
- Residential
- Status:
- Active
- Beds:
- 2
- Baths:
- 1 Full / 1 Half
Two-story condo in very convenient location. With a little work (carpeting, painting, etc.) would be a great place to live or excellent as investment property. Regime fee covers water, sewer, trash pickup, common area landscaping and grounds keeping, pool, outside building maintenance, and building hazard insurance. Located close to Northwood...
$32,500 - 957 Raysor St St George, Sc 29477 @ None
- MLS#
- 1312040
- Class:
- Residential
- Status:
- Active
- Beds:
- 3
- Baths:
- 1 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.
$67,500 - 574 Orangeburg Rd Summerville, Sc 29483 @ Flowertown
- MLS#
- 1314470
- Class:
- Residential
- Status:
- Active
- Beds:
- 4
- Baths:
- 1 Full / N/A
Great Opportunity! Bank Owned. Adorable 4BDRM 1 Bath brick ranch in Flowertown Village. Large kitchen with ceramic tile flooring. Updated oak kitchen cabinets. Laminate wood flooring throughout. Large fenced in backyard with patio. Beautiful mature trees. Side-walks. Convenient location. Dorchester District II Schools. Great starter or invest...
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Area Information
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Search Active Homes for Sale Below
Daniel Island
148
Mt. Pleasant
955
West Ashley
600
James Island
365
Folly Beach
202
Johns Island
523
Edisto Island
326
Isle of Palms
149
North Charleston
1110
Goose Creek
523
Hanahan
141
Summerville
918
Wadmalaw Island
128
Wild Dunes
193
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