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13 Steps to Buying a Bank-Owned Foreclosure

HomeLight

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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Buying Foreclosed Homes for Dummies in 11 Steps Even You (Yes, You!) Can Do

HomeLight

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 Agent. Real Estate Agent at Compass RE Texas. Real-estate owned (REO) homes. That means one loan and one closing.