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Some Frequently Asked Questions about Outer Banks Foreclosures and Shore Sales
Why Should I consider an Outer Banks foreclosure or short sale?
When searching through the current foreclosure list, it is often possible to find homes well under their tax assessed values. Conditions have made it prime for buyers to take advantage of foreclosures and short sales in the Outer Banks. Currently you can find foreclosures in towns like Corolla, Duck, Southern Shores, Kitty Hawk, Kill Devil Hills, Nags Head, Rodanthe, Avon, and more.
Aren't the foreclosed homes often destroyed and in poor condition?
While this definitely can happen, as you view homes you will find them in varying conditions. The best factor is you can place a bid, on any home you think would fit your needs. Today's market definitely rewards the buyer.
Is it more difficult to buy a foreclosed home or short sale?
With an experienced agent, you will find the process of buying a distressed home, is not all that different than buying any other home.
Will I be able to rent my home once I purchase it?
Often you will have to get the home up to the standards of a local property management company but once it is up to standard you can reap the benefit of rental income.
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