HomeLight

MAY 17, 2022

Generally, lenders will take much less than top dollar for a foreclosure, which is good news for anyone looking to score a deal on real estate. You probably won’t be able to get an inspection of the inside of a property before bidding, as sales of foreclosure properties are often sold “as is.” Foreclosure.

Inspection 115

Inspection Banks Short sale Title 115

HomeLight

AUGUST 31, 2020

Some potential homebuyers pass over foreclosures or buying a bank-owned home entirely because they are daunted by the special considerations that go into this kind of sale. The reality is, there are a variety of substantial pros and cons that any would-be buyer should weigh seriously before purchasing a bank-owned property.

Banks 98

Banks Inspection Inspection contingency Title 98

Redfin

MARCH 4, 2025

There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. That means there’s no home inspection or appraisal. Bank-owned properties Bank-owned properties, often called real estate-owned (REO) properties, are owned by the lender.

Pre-approval 31

Pre-approval FHA loan Short sale Banks 31

HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. A date for a foreclosure auction is announced.

Banks 98

Banks Inspection contingency Inspection FHA loan 98