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. Real-estate owned (REO) homes. A real estate-owned (REO) home has been put up for sale at a foreclosure auction — but it didn’t sell.

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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. What’s a bank-owned foreclosure?

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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. However, chances are you can buy the home below market value and you wont need to negotiate with a seller or bank. Why buy a foreclosed home?

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HomeLight

AUGUST 31, 2020

Here, we break down the major pros and cons of buying a bank-owned property to demystify the process and prepare potential buyers. What is a bank-owned home? A bank-owned home, also known as “real estate owned” (or REO for short), refers to properties that have been foreclosed with the ownership transferring to the bank or lender.

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