Homes can become bank-owned properties if the homeowner defaults on their mortgage and the bank forecloses. Bank-owned properties may also be referred to as real estate owned, or REO for short.

Today’s real estate market can be challenging for homebuyers. A sustained rise in prices has made the market increasingly expensive, and competition for properties can be intense. Bank-owned ...

Getting a bargain or reduced price on a home in today’s market seems like a long shot. But a bank-owned property may offer one way for a homebuyer to purchase an affordable home or a home in an area ...

REOs are bank-owned properties not sold at foreclosure auctions and sold at discount. REOs arise when loan defaults lead to unsuccessful auction sales, necessitating direct sale. Buyers, particularly ...

Q: As a new Realtor, I have a question about disclosure. I recently showed a bank-owned property to an investor. As we walked through the home, there was obvious evidence of mold, including black ...