The end of the year sees foreclosures in charlotte, NC on the upswing

The end of the year sees foreclosures in charlotte

, NC on the upswing

Lending institutions in the whole country, such as Bank of America, Fannie Mae, Citigroup Inc. and Freddie Mac, suspended the foreclosure process for the last few months of the year in the wake of the Robo signing fiasco, where it was alleged thousands of legal documents were fraudulently witnessed and executed.

After a review of its signing processes, the Charlotte-based Bank of America Corp. has ordered the freeze is over and sales of foreclosures in charlotte, NC are back in full swing. By investing in North Carolina foreclosures, you can buy vacant and non-owner occupied homes at below market value and profit from great savings.

Experts agree purchasing foreclosures in Charlotte, NC can be a solid financial undertaking if you follow some advice.

Make sure to check out the property you are interested in buying. In a foreclosure situation, the current tenant occupying the premises may be unwilling to allow someone to inspect the property that may ultimately buy it and evict him. In this case, conduct a drive-by inspection. If the owner and, by proxy, the tenant have maintained the exterior of the house, chances are the interior will reflect this attention to detail as well.

Contact the lender to arrange for a qualified home inspector to attend at the property to conduct a thorough home inspection, both inside and out. You need to be advised of any specific problems, structural or otherwise, that require immediate attention.

Hire a lawyer or qualified company to organize a record search to reveal the chain of title to the property and to uncover particulars of any outstanding taxes or liens registered on title, which may become your responsibility as the new owner. You want to make sure you are granted clear title when you take possession of any North Carolina foreclosures.

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