Pre-Foreclosures

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Spartanburg Pre-Foreclosures are homes that have NOT been foreclosed on yet and are often referred to as “Short Sales”. A short sale is when an owner is selling their home for LESS than their mortgage amount resulting in the lender taking a loss on the sale. Because of this all sales are subject to the lender’s final approval of the sale. Lenders often accept short sales because the “net” proceeds to the lender are generally higher than a foreclosure since they are able to avoid litigation costs and generally property damage is kept to a minimum. Expect the seller to make NO repairs as the sale is almost always “AS-IS”. As with foreclosures, the condition of homes vary considerably and all should be professionally inspected as part of a proper purchase process. Our team guides and protects you through the entire purchase process helping to avoid any unexpected costs and surprises. Unlike foreclosures, all short sales must be coded as such in the Spartanburg MLS. Therefore the links below are ALWAYS complete and up to date. Contact our team for help in evaluating a short sale deal.