Buying Beaufort SC homes that are either a Short Sale or a Foreclosure can involve many details. Foreclosures are generally an easier process that a short sale but can often involve many requirements from the lender who is handling the sale.
Foreclosures are usually sold as-is with the seller (lender) making no repairs. That does not mean that you are not entitled to make your own inspections and to make the purchase contingent on the inspection, the contract just has to be worded as such. Each property is different and depending on the situation I go over all the options with buyers and offer a pre-inspection based on my 35 years of construction experience to help the buyer determine if a property needs a more detailed look.
Unless the lender has already approved the short sale on a property it can take many months to close. Short sales are more suited to an investor who has the time and position to wait it out and go through the many turns and twists a short sale often takes to close.
I used to buy and sell foreclosures and distressed properties back in the late 80's. My advice is to make sure you do your homework on either Beaufort SC homes that are short sales or foreclosures and try to use an agent who is knowledgeable about the process. Russ Fielden
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