Myrtle Beach Real Estate Foreclosures

If you are considering a purchase of forclosure real estate in the Myrtle Beach area:

Follow direction on my Home page to search the Myrtle Beach MLS system for live real-time real estate listings of forclosure property

or

Click here - Fannie Mae's Foreclosures in Myrtle Beach

Homes have already been appraised and have a mortgage just waiting for a buyer. 

or

Contact me, Sandy Keller, (843)655-4619 for more information about foreclosure and short sale properties.  I am now certified as a Short Sale and Foreclosure Resource (SFR) which is the only certification offered by the National Association of Realtors for training received to assist buyers and sellers in the short sale and foreclosure process.

Be Prepared For The Term "Highest and Best" If You Try To Purchase Foreclosed Real Estate

During the past few years I have represented several buyers who were able to purchase foreclosed real estate in the North Myrtle Beach, South Carolina area.  When multiple offers were involved the listing agent's made the request of "highest and best".  That was an expected response to the multiple offer situation so I had informed by clients of the possibility.

Recently I represented a buyer who, as required to purchase a short sale or foreclosure, became pre-qualified for a mortgage.  Based on information given by the buyer I knew that real estate within her price point would probably be a distressed property.  Since I am certified through the NAR as a Short Sale and Foreclosure Resource (SFR) I had also registered as an agent with Fannie Mae and Freddie Mac and frequently search their sites for properties in distress.  I found one for my client that was only a couple of thousand above her price point but it had been on the market long enough to justify an offer if my client wanted to purchase. 

My client met the criteria for a First-Time Home Buyer tax credit and the offer was made with ample time for a response from Fannie Mae on their foreclosed home.  After several weeks I was notified to present my client's "highest and best" within 12 hours.  We responded immediately but days went by with no response from the agent for Fannie Mae.  Then we received a verbal counter offer to our "highest and best".  My client was already stretching her financing to the max but she made a counter offer back to Fannie Mae.  Several weeks passed and the deadline for a ratified contract to qualify for the first-time home buyer tax credit was only two days away when I receive a notice from the Fannie Mae listing agent to make a "highest and best" offer again with no response to our counter offer.  We responded immediately and on April 29, 2010 at 5:00 PM we received notice that my client's offer was rejected. 

Be prepared if there are multiple offers to hear the term "highest and best" possibily several times but do not give into the pressure if you feel that you have already stretched your financial well-being to the limit.

Myrtle Beach Real Estate