Foreclosures in Myrtle Beach and surrounding areas have become a hot commodity in the last 12 months because of their great prices and potential to get into a home that years ago might not have been affordable. ALL BANKS will require a pre-approval letter from your lender for financing OR a proof of funds letter from your bank stating that you have X amount of funds on deposit to make your foreclosure purchase before they will consider an offer from you. It is VERY IMPORTANT that before you start looking at real estate, that you obtain a pre-approval letter from your lender OR a proof of funds letter from your bank. Being that foreclosures are such a hot item, be prepared to make an offer as soon as you see a home that you like. Many of these bank owned properties in Myrtle Beach and surrounding areas receive multiple offers and sell within only a few weeks and sometimes even days! Again, I cannot stress the importance of speaking with a lender before looking at real estate.
Daniel Dickson with Prospect Mortgage can be reached at 843-251-8789 or email at Dan@MyrtleBeachMortgage.net (be sure to reference Jake Lee, Broker/Realtor in your email) and specializes in loans for first time home buyers and those who have not purchased a home in a few years. Daniel offers great loan programs that only require 3.5% down, loans offering down payment assistance, 100% financing in select areas, and many more of these unique programs. Dan even offers a rehab loan if you are purchasing a foreclosure home in Myrtle Beach that might need some work. Dan also specializing in loans for individuals who are purchasing a second home or investment property AND is well versed in providing JUMBO LOANS to those who are purchasing homes that will have a loan amount of up to and/or over $417,000.
For those individuals who are purchasing homes that wish to borrow more than $417,000, please call your Realtor - Broker - Jake Lee directly to find the most competitive banker for your loan. These types of loans are referred to as "jumbo loans" and terms will vary greatly from bank to bank. If you are considering a jumbo loan, Jake Lee will most likely recommend a more traditional brick and mortar bank such as BB&T or Wells Fargo for to obtain the best interest rate for this type of loan.
OTHER THINGS TO BE AWARE OF when purchasing a foreclosure property -
1. All bank owned properties in South Carolina are sold strictly as-is and the seller of the property will make no repairs unless, on some occasions, it is required by your lender.
2. Some foreclosure properties may be in disrepair and will not be approved for all types of financing. This is one of the reasons why it is so important to consult one of the bankers listed above before looking for real estate in detail.
3. Most of the bank owned condos in Myrtle Beach will only accept CASH and may not allow financing. Please call one of the bankers listed above for more information on this.
4. Foreclosed Homes are normally sold very fast from the time they are listed and/or receive multiple offers. Make sure that you are ready to make an offer immediately when you see a property that you are interested in.
5. The bank who owns your new foreclosure property will take 2-3 days in most occasions to respond to your offer. However, there have been some occasions where the foreclosure bank takes up to 2 weeks to respond. A prolonged response is not common, but be prepared.
6. In order to purchase a foreclosure - You MUST be prepared and already have a letter from your banker stating that you are qualified to make a purchase. The foreclosure banks will not even consider your offer unless you are able to provide them with a letter of pre-approval or a proof of funds. See above for mortgage company contact information to obtain this letter. By calling the lenders above and getting pre-approval you are NOT obligated to getting a loan and this process does not cost you anything.
Exquisite lakefront estate located in Dunes Cove. 9408 Lake Drive is one Myrtle Beach’s iconic, luxury homes. This timeless classic Georgian manor sits on 1.8 acres of ...
- 5 Beds
- 5 Baths
- 1907418 MLS
Listing courtesy of CENTURY 21 Boling & Associates , Sara Boling.
A Diamond in the Rough! PRICE REDUCED on this huge 7 BR, 5.5 bath OCEANFRONT beauty. She has been neglected and you can bring her back to her glory. Many opportunities fo...
- 7 Beds
- 5 Baths
- 1906294 MLS
Listing courtesy of Benham Real Estate Group MB , Denise Thompson.
Prestigious executive custom built home in Tilghman Estates of North Myrtle Beach. 5 bedroom 6.5 bath. Only a few blocks to the ocean on a huge lot. Beautifully remodeled...
- 5 Beds
- 6 Baths
- 1910561 MLS
Listing courtesy of Ocean Breeze Properties, LLC , Lori Reid.
BANK OWNED - Spanning over 3700 heated square feet, 9166 Abingdon Drive is an impressive home that sits on a half-acre private fenced in wooded home site. Once through th...
- 4 Beds
- 3 Baths
- 1918119 MLS
Listing courtesy of JTE Real Estate , Jason Ellis.
What a beautiful location right on the Waccamaw River. Sitting high on the bank and a large three story home with over 8,000 square feet of space. Tons of potential and...
- 5 Beds
- 4 Baths
- 1918066 MLS
Listing courtesy of Carolina Pines Realty , Beth Ross.
Full brick home. Hardwood floors in 2 story foyer, at home office with french doors and built in desk and bookcase, and formal dining room with decorative columns, moldin...
- 4 Beds
- 2 Baths
- 1915108 MLS
Listing courtesy of Realty ONE Group DocksideSouth , Tammy Arp.
POTENTIAL GALORE! This 9,200sqft home has views of the ocean and the inlet but just needs someone to come and finish her up. Public boat launch across the street and on...
- 7 Beds
- 6 Baths
- 1726099 MLS
Listing courtesy of South Strand Realty , Jay Goodman.
NEW Roof has been installed Located in the prestigious gated Prestwick golf subdivision with view of 12 tee, maned security at gate. short distance to the beautiful beach...
- 4 Beds
- 3 Baths
- 1917791 MLS
Listing courtesy of Jerry Pinkas R E Experts , Jerry Pinkas Team.
This house is on a HIGH lot that never floods, it overlooks Yauhannah Lake. It is right next to the boat landing. It is on the lake so boat traffic is not a problem. ...
- 4 Beds
- 2 Baths
- 1901168 MLS
Listing courtesy of Ray Realty Inc , Carlisle Dawsey.
This Property is Located a short walk to the beach, and in prime Location, just minutes to Murrells Inlet Marsh walk, The Market Common, Shopping, Golf, and all the Great...
- 3 Beds
- 2 Baths
- 1922048 MLS
Listing courtesy of Realty ONE Group Dockside , JP Pena.
New paint in this beautifully decorated ocean view unit, 2 balconies off bedrooms, no unit on left side to provide extra privacy. Close to main street in the shag capital...
- 2 Beds
- 2 Baths
- 1918277 MLS
Listing courtesy of Jerry Pinkas R E Experts , Jerry Pinkas Team.
LIKE NEW!! What a deal this one is!! 4 bedroom 2 1/2 bath home located in Brighton Woods. This home has new flooring, paint, HVAC and stainless steel appliances. Don't w...
- 4 Beds
- 2 Baths
- 1921463 MLS
Listing courtesy of Carolina Pines Realty , Beth Ross.
Your opportunity to make the Coastal Heights community home! This 3 bedroom, 2 bath has been recently renovated inside and out. The interior features beautiful luxury vin...
- 3 Beds
- 2 Baths
- 1912654 MLS
Listing courtesy of Enterprise Realty , Patricia Parker.
All brick ranch with 3 bedroom 2 baths attached 2 car garage, Large added room in rear for family room. New Range, new roof over family room. Located in The Lake Subdivis...
- 3 Beds
- 2 Baths
- 1920452 MLS
Listing courtesy of Gabriel Financial Real Estate , Timothy Gabriel.
This 9th floor condo unit is located at the Prince Resort and offers 2 bedrooms, 2 bathrooms, approximately 1075 square feet of living space, kitchen with bar, balcony ov...
- 2 Beds
- 2 Baths
- 1905378 MLS
Listing courtesy of Owners.com , Paul Arterbury.
Nice 3 bedroom ranch home in Polo Farms. Neutral colors through with vaulted ceilings which has well been take care of. Formal dining room, Fireplace in living room, spac...
- 3 Beds
- 2 Baths
- 1915232 MLS
Listing courtesy of RE/MAX Southern Shores NMB , Team Messer.
Great townhome just a few blocks to the ocean new paint, appliances and in good condition 2 bedrooms 2 full baths this will make a great vacation home or owner occupant h...
- 2 Beds
- 2 Baths
- 1920045 MLS
Listing courtesy of Ocean Breeze Properties, LLC , Tamara Reid.
Great split bedroom floor plan! Vaulted ceilings in living room and tray ceiling in master bedroom. Screen porch, shed and quiet backyard. Centrally located located to ...
- 3 Beds
- 2 Baths
- 1920726 MLS
Listing courtesy of FI&CS LLC , Carol Rosenthal.
Great opportunity- Over 1 acre with a 4 bedroom home with over 2600 sqft! Home has 2 fireplaces, spacious kitchen, vaulted ceilings, laundry room, front porch, rear deck,...
- 4 Beds
- 3 Baths
- 1914122 MLS
Listing courtesy of CB Chicora Advantage Briar , Christopher Hanna.
Located in a highly desired community, this beautiful home is perfect for anyone that wants to buy a house below market value and upgrade it exactly the way they want. F...
- 3 Beds
- 2 Baths
- 1922033 MLS
Listing courtesy of CB Chicora Advantage CF , Daniel Kureshi.
Cozy 3 bedroom, 2 bath home located in the community of Eagle Trace. This home features a spacious open floor plan with vaulted ceilings to allow for plenty of natural li...
- 3 Beds
- 2 Baths
- 1917136 MLS
Listing courtesy of Sloan Realty Group , Blake Sloan.
This property is located within minutes of Georgetown's city center and its shopping and dining venues. To the north are Pawley's Island, Litchfield Beach, Murrells Inlet...
- 1 Beds
- 1 Baths
- 1920563 MLS
Listing courtesy of Realty ONE Group DocksideSouth , Tammy Arp.
Brick home! 5BR/2 BA 2-story home in beautiful Georgetown, SC. Great proximity to schools, shopping, churches, local boat landings, rivers and the beaches! Perfect prim...
- 5 Beds
- 2 Baths
- 1922168 MLS
Listing courtesy of Beach and River Homes , Robert Slick.
Come check out this one! Three Bedroom Two Bath 1 level home located on a cul-de-sac. Home features front and rear covered porches and a fenced in back yard. This home i...
- 3 Beds
- 2 Baths
- 1920186 MLS
Listing courtesy of Carolina Pines Realty , Beth Ross.
2 bedroom 2 bath condo located in Heron Pond. Heron Pond has an outdoor pool, assigned parking, and is close to everything the Grand Strand has to offer. This unit has a ...
- 2 Beds
- 2 Baths
- 1824879 MLS
Listing courtesy of Ocean Breeze Properties, LLC , Tamara Reid.
Provided courtesy of The Coastal Carolinas Association of REALTORS®. Information Deemed Reliable but Not Guaranteed. Copyright 2019 of the Coastal Carolinas Association of REALTORS® MLS. All rights reserved. Information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Jake Lee Real Estate Team
804 Inlet Square Drive Unit G
Murrells Inlet, SC 29576
Phone: 843-240-0431
Fax: 843-315-1504
JakeLeeRealEstate@gmail.com