CoastalOuterBanks.com
  • Nags Head
  • Manteo
  • Corolla
  • Duck
  • Kill Devil Hills
  • Foreclosures
  • Featured Listings
  • Contact Us
    Login
    (252) 489-2140

    Sign in to your account

    Need to reset your phone number?

    Don't have an account with us?

    Click here to sign up.

    Outer Banks Foreclosure Search

    TO
    Advanced Search

    Search All Outer Banks Foreclosure Listings

    The Coastal Outer Banks website search offers you access to all homes and condo foreclosures in the Outer Banks. If you save a search, you'll be alerted to any new listings that come on the market.

    Outer Banks Foreclosures search button

    Purchasing a Bank Owned Property

    Foreclosures are also known as bank-owned properties or REO's, which simply means the previous owner defaulted on his mortgage and the lender now owns the property.  Buying a foreclosure is similar to buying a traditionally owned property and can sometimes be a great way to buy a home below market value.  However, there are some important factors to consider:

    Property condition

    Because the previous owner is out of the picture, there will be very little information available about repairs and maintenance of the home.  Additionally, you will be buying the home in "as is" condition.  Unlike a traditionally owned property, there will be no negotiation over who will do any needed repairs.  That means its important to find a good, licensed home inspector which will help you understand the true condition of the property. 

    The Potential for a "Money Drain"

    Make sure you factor in the cost of repairs into the price.  If its a Fannie Mae owned property, you may be able to get renovation financing.  Otherwise, you may be out of pocket for all the repairs.  You may sometimes find that the time and effort it takes to renovate the property might be more hassle than its worth, and a non bank-owned property can certainly have advantages. 

    Must be Pre-Qualified

    Whether you are purchasing a bank-owned property or not, its always good to get pre-qualified.  In addition to helping you understand what you can afford, you will be required to have a pre-qualification letter before submitting an offer on a bank-owned property.

    For more information about purchasing bank-owned properties in the Outer Banks, contact Coastal Outer Banks Realty at 252-489-2140.

    Newest Outer Banks Foreclosure Listings

    301 Highway 64, Manteo image
    301 Highway 64, Manteo $1,100,000 ▲

    This large commercial building is located on the corner with just a short distance to downtown Manteo. With over 6800 square feet this property offers plenty of parking w...

    Courtesy of Sun Realty - Kdh

    Listing courtesy of Sun Realty - Kdh.

    Like or Share
    Loading likes...

    Address Search

    Featured Listings

    Click here to visit us on Facebook

    Sign up for Free Market Reports

    • Nags Head
    • Corolla
    • Kill Devil Hills
    • Manteo
    • Duck
    • Kitty Hawk

    OBX Water Front Properties

    • Ocean Front Properties
    • Sound Front Properties
    • Canal Front Properties
    • Creek and Harbor Front Properties

    Popular Outer Banks Communities

    • Corolla
    • Duck
    • Southern Shores
    • Martins Point
    • Kitty Hawk
    • Kill Devil Hills
    • Colington
    • Nags Head
    • Pirates Cove
    • Manteo
    • Avon
    • Hatteras Island

    Mainland Currituck

    • Upper Currituck Mainland
    • Mid to Lower Currituck Mainland

    Information for Buyers

    • Step by Step Guide to Buying OBX Property
    • Understanding Your Insurance Coverage
    • Outer Banks Utilities Providers

    Outer Banks Information

    • Public Schools
    • Leash Laws
    • Beach Driving

    Information for Sellers

    • Adding Value to Your Home
    • Factors in Setting the Price for Your Home
    • Why Use a Realtor to Sell Your Home

    Additional Reading

    • Buying a Second Home? Things to Consider
    • Understanding Flood Zones Before You Buy
    • How Rising Interest Rates Affect Your Purchasing Power
  • Privacy Policy
  • Buying OBX Property
  • Foreclosures
  • About Us
  • Featured Properties
  • Contact Us
  • COBR Brokers cover the territory from the Virginia state line to Hatteras. We also have agents with dual licenses in Virginia and North Carolina so we've got you covered!

    Mailing Address:

    PO Box 1657
    Nags Head, NC 27959

     

    How to reach us...

    252-489-2140 (Main Office)

    252-207-5650 (Broker/Owner direct)
    laurie@coastalobx.com


    © 2023 - All Rights Reserved

  • Corolla
  • Duck
  • Kitty Hawk
  • Kill Devil Hills
  • Nags Head
  • Colington
  • Southern Shores
  • Martins Point
  • Pirates Cove
  • Manteo
  • IDX Real Estate Websites by
    • Accessibility • Terms • Privacy