Outer Banks Foreclosures

Sign up for free email updates

Want to keep up with the Outer Banks Foreclosure activity from your inbox?  Just complete the registration form and we will deliver the updates via email.  It is the easiest way to keep up with the activity on the Outer Banks Foreclosure Market. 

If you have any questions, please feel free to contact us. 

How to find a propterty on OBX Foreclosures

There are a few ways you can find properties on OBX Foreclosures.info.  If you are looking in a particular town, the easiest way might be to pick by Category.  We currently have categories set up for each town but also items such as retail and lots.  When you pick the category, all properties for that topic will be displayed and you can scroll through each property.  Categories are listed on the right menu bar and the list of options will probably continue to grow as the site evolves.

Category List

Another way to find properties is doing a map based search.  If you zoom in on the properties, you can click on each icon and it will display a link with the number of bedrooms and bathrooms.  Follow that link and it will take you to the details about the specific property. 

Map Link

You also have the option to sign up for free email updates.  When a new property is added - you will get an email with a link to the property details.  Just fill out the Registration Form and the updates will be delivered to your inbox as new properties are added. 

If you have any questions or suggestions, please feel free to contact us. 

Housekeeping Notes

We are working out a few final technical details and should begin posting properties later this evening.  There is quite a bit of current Outer Banks foreclosure activity so please be patient.  We hope to have all of the properties listed and updated within two weeks.

We will also be including the foreclosures on the Currituck Beaches (The 4wd areas and Corolla). 

For those using our Maps, (a special thanks to Map-A-List - these folks are great and their product ROCKS!), firefox version 3.2 has some issues with the links on the property details.  For best results, I would suggest using Chrome, IE or Safari (all have been tested and work well).  You should be able to zoom in on the property, click the icon and you can follow the link to the detailed post about the foreclosed home or lot.  

For those of you that signed up for free email updates, your inbox should soon be receiving new and updated foreclosure listings. For those that signed up for email updates and didn't give us your email address, we are going to need a little help...  We do ask for you to provide your full contact information in order to get the updates.  

One last note, if you have any questions, please feel free to contact us.  The courthouse does not publish any of this information on line.  They are very busy and I am sure they don't want to try to match their paper records to our online system.   We will try to provide accurate and timely information.  If you are interested in a particular property or properties, please contact us so we can make sure you receive information in a timely manner.  

Matt Whelan and Ronnie Roach

Stages of Foreclosure - a brief explanation and timeline

We get many questions about the stages of foreclosures on the Outer Banks. Below is an explanation and sample time line of the foreclosure process.

• Filing Date - This is the start of the process and where the legal party (lender, homeowners association or government entity) file at the courthouse intent to proceed with a foreclosure.  We originally thought we would skip this stage because some owners would find a solution and it would not make it to the next stage.  Our intention now is to include this stage - if someone is interested in a buying a short sale (a reduced buyout before the foreclosure), this would be a great time to begin that process.  This also benefits the owner by bringing potential buyers to the property.
• Hearing Date - Filing Date + 4-6 weeks.  This is the date where the owner has the opportunity to plead their case as to why they might need an extension.  It could be a potential short sale, a potential regular sale, refinancing or a few other options.  The potential outcome:  1.  foreclosure dismissed  2. the hearing could be rescheduled for a future date or 3.  the foreclosure date could be set.
• Sale Date - Hearing Date + 21 days.  This is the date the property is sold on the courthouse steps.  I have attended sales where buyers flew in from out of state only to discover the process had been delayed a week at the last second.  If you would like additional information on Matt representing a buyer at the courthouse, please feel free to contact us and we will explain the process.  Potential Outcome:  1. Buyer buys back own property.  2.  Another party purchases property or 3.  Bank buys back property with no additional bidders.
• Bank Owned Options - Sale Date + 2 -6 weeks.  If the lender buys back the property - they will hire a Realtor to list the home and try to sell on the open market.  There are many factors involved - some are sold as is, some will have minor improvements.  Most of the information you see online for Outer Banks foreclosures are actually bank owned properties that have already gone through the foreclosure process. 

We intend on updating each listing with the stages listed above with estimated dates for each step of the process.  These dates are subject to change by the factors listed above.  If you have any questions, please feel free to contact us.

Housekeeping notes for Outer Banks Foreclosures email distribution

We are in the process of cleaning up the data and hope to have live data before the end of the year.  I have noticed that some have registered for email updates but failed to include their email address. 

If you would like to receive the free updates, we need your complete contact information.  Those that have included complete information should be receiving a confirmation email in the next few weeks followed by new foreclosure listings.  If you have any questions, feel free to contact us. 

OBX Foreclosures major site update coming soon!

This is exciting news for those that want to stay informed about foreclosures opportunities on the Outer Banks.  We are putting the finishing touches on the program and plan on going live by the end of the month. 

Most Outer Banks foreclosure sites focus on the Bank Owned Properties (properties that have already gone through foreclosure that were purchased by the banks at the courthouse steps and then to be re-sold on the open market). OBX foreclosures will provide information much earlier in the process. 

Another benefit of OBX foreclosures is that we plan on providing historical information on the prices. 

• The current tax value of the home
• The sales price at the courthouse steps
• If purchased by the bank - the listing price once it goes on the market
• The final sales price once the property is sold

Over time, this information will become a valuable tool for those looking to purchase property on the Outer Banks.

So why are we doing this? 

• The proposed mortgage bailout programs to date are only focused on primary residences.  If those plans actually go into effect, it could help some local residents but it will not help the investor or second home owners.  Since the majority of Outer Banks Real Estate consists of second homes and investment properties - foreclosures will be something we will all have to deal with for the forseable future. 
• Outer Banks Foreclosure information is difficult to obtain or it costs money.  We will solve this problem.  Our goal is to provide accurate information so our clients can make informed decisions. 
• We want your business.  By providing this information, we hope you will consider working with us when you decide to purchase a home on the Outer Banks.  The old school way of doing business - you sign an agreement and then you get some information.  The new school way - we provide you information and then you decide who you want to work with.  If you decide to work with another agent, we can live with that.  But we would really appreciate the opportunity to earn your business.  Give us a call, send us a note - give us a chance to exceed your expectations.

If you would like to be get free email updates on foreclosure properties on the Outer Banks - just fill out the sign up form - it is just that simple.  We do ask for your information.  We will not sell your information to Nigerian scammers or "pharmacutical" companies to improve your health.  If you have any questions, feel free to send us a note.

Welcome to Outer Banks Foreclosures

Welcome to Outer Banks Foreclosures - your definitive source of information about foreclosures on the Outer Banks of North Carolina.