View Full Version : Real Estate liquidation New Bern, NC
I've been looking at this area for sometime now. Any info would be appreciated.
This Saturday, 1800 sq/ft Cottage 59K - 3Ac on Water 29K
http://www.marinerslandingnc.com/
I notice they don't post a picture of the 1,800 sf cottage. Might be a reason for that.
You can get over $30K for a regular building lot in Cumberland County. $29K for a 3 acre deep water lot? Might be a reason for that also. Orphan Lot? (http://financial-dictionary.thefreedictionary.com/orphan+lot)
The coastal vacation areas of NC took a big hit in the market crash a few years back. Still not recovered yet. So yeah, some of those similar lots were going for $180k before the crash - and many bought some of them.
The question for any buyer is "Has the market hit bottom, is it stable or is it fixin' to take off?"
Pete, thanks for the info. I've called the company and have visited their Corp. w/site. They seem legitimate, but you are correct, due diligence is the key word.
The Reaper
09-26-2014, 10:55
Usually a scam.
I get these for NC mountain properties.
I looked in the fine print (actually had to use a magnifying glass) and found that the house was unassembled.
I strongly suspect that construction of said house would require use of their subs and would cost more than comparable products.
Also be aware that properties acessible to the ICW in NC are usually damp, to say the least, could be restricted by wetlands regulations, and may have significant exposure to hurricanes (insurance has leaped in cost over the past few years).
Caveat emptor.
TR