Here is a list of the most current list of short sales in Wilmington and Wrightsville Beach, click here to see them all!
Short sales can be great buying opportunities. When a seller owes more money on their loan than they can afford (and the house is not worth an amount greater than their current loan balance), a "short sale" is the result.
For sellers, it can be a good way to sell their home, although their credit score will be impacted. Sometimes banks require sellers to pay back the deficiency, it all just depends on the situation.
In addition, sellers will receive a 1099 form from the IRS for any deficiency. We recommend to our clients that they seek the advice of an attorney prior to selling their home as a short sale.
For buyers, short sales can be super deals....buyers must remain patient as teh process takes several months (or longer).
If you want more info on short sales please contact Coastwalk Real Estate
910-458-9119
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