Outer Banks Short Sales
Often short sale, foreclosure, and bank owned are used interchangably. There is a difference between all three. Essentially, foreclosure happens on the court house steps, bank owned are once the banks buy them back, and short sales are usually a pre-foreclosure process on the part of the lender.
Short sales throughout the Outer Banks offer excellent opportunities to purchase investment or vacation homes. With a short sale, the offer is contingent upon the lender's approval. Currently, you can find excellent short sale opportunities throughout the Outer Banks in places like Corolla, Kill Devil Hills, and Nags Head to name a few. If you are interested, you can find short sales in any town of the Outer Banks.