FDIC Foreclosures, Maggie Valley NC real estate

FDIC Foreclosures create a lot of activity in the Maggie Valley market. In fact these are the first ever FDIC foreclosures in Haywood County in recent history.

To be an FDIC foreclosure a property must be foreclosed upon by the Bank making the original loan. Then the Bank must be closed or placed in receivership. The FDIC then protects the assets as receiver and markets them to the public.

It is a time consuming and complicated process. The main advantage is the reduced pricing offered by the FDIC. This process does create interest. It seems many buyers are interested in purchasing; if they can get a ‘good buy’.

These 6 log cabins and the tract of land are top quality and in an attractive area. The prices are below market value.