Of all the cheap oceanfront property in South Carolina, from Hilton Head to Charleston, the best deals can be found in Myrtle Beach. Now one of the country's top vacation resorts, most of the condos are priced low enough to cost very little if used as a condo-hotel or vacation rental.
Myrtle Beach has always been the best priced deal on oceanfront condos and beach homes, but the foreclosures and short sales have about run the course, and although you can still find some, you will need to be ready to act quickly and often pay cash for the property.
The major hurdle to buying foreclosures in Myrtle Beach is TIME. These deals are snatched up immediately, and if you are interested in buying one, you have to move immediately. There are still some foreclosures going on right now that can be had for half of what was paid for them in 2005-6.
Finding Myrtle Beach real estate in PRE-foreclosure can be the best thing of all. The owner may be willing to take a substantial loss to avoid getting a foreclosure on his credit record, and banks may be willing to accept a lower price than what is owed on the mortgage as well, known as a "short-sale". There are still a few of these around, but you'll probably need to work with an experienced foreclosure Realtor to catch one.
Contact any of the Realtors seen on this page if you see a foreclosure in Myrtle Beach that you want to investigate further. The best place to search the MLS is with C21 The Harrelson Group. Our public courthouse auctions are also held the second Monday in every month in Myrtle Beach. This auction is the very best place to find the lowest price on a Myrtle Beach oceanfront condominium.