Real Wilmington Seller Result

How We Bought a Storm-Damaged Wilmington House on the Edge of Foreclosure, in 22 Days

When this homeowner in the 1600 block of Chestnut Street in Wilmington called us, the house was already in trouble. It had been neglected for a while, and it was very close to foreclosure.

Then things got worse. A tree limb came through the roof, and water flooded the house from the second floor all the way down to the bottom. There was no insurance to cover any of it.

The situation

A house close to foreclosure is stressful enough. Add a hole in the roof and water damage on every floor, with no insurance to pay for repairs, and the options shrink fast. The sellers couldn’t afford to fix the house, and they couldn’t wait. They needed to move fast.

That’s the kind of call we take every week. Since 2012 we’ve bought more than 750 houses across southeastern NC, and plenty of them were houses most buyers wouldn’t touch.

How it worked

It started with a short call, about 15 to 20 minutes, where we talked through the house and what the sellers needed. From there we made a no-obligation cash offer, and they accepted.

They didn’t make a single repair. No clean-out, no showings, no lining up roofers and contractors while they figured out their next move. Because it was our direct purchase, there was no agent commission either.

The timing

A pre-foreclosure sale comes with extra paperwork. Before we could close, a few files tied to the pre-foreclosure had to be cleared up, and we worked through them so the sale could go through cleanly. Without that, it would have closed even sooner.

From first call to closing: 22 days.

We can close in as little as 14 days, or take longer if a seller needs it. Here the goal was simple: move fast and take a house the sellers couldn’t afford to fix off their hands.

What we did with the house

This one was a complete gut job. Upstairs, the walls came down to the studs and the ceilings were opened up to the joists. Water stains, torn-up floors and old paneling ran through the whole house.

We rebuilt it from the inside out and turned it back into a 4-bedroom, 3½-bath home, keeping the historic character and adding modern upgrades:

• Kitchen: opened up, with white shaker cabinets, granite countertops, an island, stainless steel appliances, pendant lights and a chandelier over the dining area.
• Main bath: a walk-in glass shower with white subway tile and a mosaic accent band, a double vanity with granite, and original exposed brick that shows off the house’s age.
• Second bath: beadboard wainscoting, a granite vanity and new fixtures.
• Throughout: restored original hardwood floors, a refinished staircase with new white railings, crown molding, recessed lighting, fresh paint, and a living room fireplace with a new tile surround.
• Front porch: new tile floor, a new front door and lantern lights.

The before and after photos show how far it came.

Main bath

Living room

Foyer and staircase

If this sounds like your situation

If you’re facing foreclosure, behind on payments, or dealing with damage you can’t afford to repair, you have options. A straight cash offer like this one takes the house off your plate, as-is. We also offer our Retail Advantage program and a traditional listing through a licensed NC broker, and on a short call we’ll help you figure out which one fits. You can compare your three options here or start on our home page.

No pressure and no obligation. Just a straight answer on what we can do for you.