If you’re looking to invest in an Outer Banks home, you may want to consider looking into foreclosures, and there are tons of these new homes in Corolla just begging for a new owner! Not only are they affordable, they’re bank owned, and most of the time ready to move into!

Now, before you jump to any conclusions about what you may have heard in regard to foreclosed homes, we must say that they are the best way to get a great home in Corolla for an awesome deal! A foreclosed home is simply a home that someone could not afford and is now owned by the bank who is looking to sell it to get at least it’s worth, sometimes even less.

This may all sound great, and it is, but one thing you have to keep in mind with foreclosed homes in Corolla is that the bank may own the home, but all the repairs and such are left in the hands of the new owner upon purchase. The bank is not responsible for any damages that may have occurred before the home went under foreclosure. It’s a necessity that you give your new dream home a good look over before making that final signature.

Things To Consider

As we have said, take a good look at your potential property, which may require you take a few steps to ensure you are getting your money’s worth out of the home.

  • Exterminator: Hiring an exterminator is a great idea, especially if you have a feeling you may have an infestation.
  • Electrician: Have an electrician inspect for any faulty wiring.
  • Contractor: It’s always a good thing to have a contractor handy with an estimate on any repairs that you may have to make.

More Corolla Homes

The best thing is that Corolla doesn’t have just foreclosed, but new and old homes for sale by owner! There are tons of choices for living here on the Outer Banks, from Soundfron to Oceanfront homes in Corolla and we have all the info you could need.