Equity Inspection contingency Real-estate owned 
Redfin
MARCH 4, 2025
These properties are often priced below market value, making them attractive to buyers looking for a good deal or hoping to build equity quickly. If possible, consult a real estate attorney to be sure you understand the realities of the auction and the transaction rules.
HomeLight
SEPTEMBER 1, 2020
The home is now bank-owned (sometimes also called REO, or “real estate owned”). As you weigh your options, really take a close look at which of your top choices offers the best value overall and which one might allow for significant gains in sweat equity via easily implemented corrections.
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