“Welgelen Road Land”

A parcel of land located in the area of Cay Hill, Welgelen Road.

Market value $120.000

Auction value $84.000

* This property is a DISTRESSED SALE which means it is either owned by the bank or by homeowners who have not kept up with their mortgage payments.  Properties such as this one that we have labelled DISTRESSED SALE are often priced below market value, but may only be available for a limited time.  Sometimes the timing of purchasing real estate is as important as the location!

Most of the properties we have labelled as DISTRESSED SALE are at risk of foreclosure and this is why the homeowners, the banks that have a mortgage on the properties, and ISLAND REAL ESTATE TEAM work together to find a buyer fast.

Some restrictions apply:

* Homeowners may or may not be willing to show their home to prospective buyers.

* Homeowners and banks both have to approve the offer

* It is possible that the properties suffer from some neglect and will need repairs.

* Sometimes the home will be sold via an auction.  If that is the case then the cost for the auction are to be paid by the buyer.

* For other brokers looking at these listings, please note the commissions have been discounted…