Anyone trying to find a great deal on real estate should consider Oak Island foreclosures. These remarkable properties are available now and come in a variety of styles and price ranges. At Brunswickland Realty we have properties in foreclosure that are for sale in the neighboring coastal communities as well.
Oak Island foreclosures are the result after a homeowner defaults on their mortgage loan. In order to retrieve the amount lost on the loan, the lender will repossess and sell the property, using the proceeds to cover the outstanding debt. Since the lender only needs to collect a portion of the full loan value in order to cover the remaining debt owed, they often allow for properties to be undersold.
Investing in Oak Island foreclosures is an incredible opportunity, as it enables you to initially save money, then increases your chances for a profit when you sell the property. Buying below market value results in being able to turn around and sell your property for a profit when the economy improves.
North Carolina is one of the most desirable states to live in the country, as it provides a great place for families, professionals and those seeking to retire along the shore.