Closing Inspection contingency Investor Real-estate owned 
HomeLight
SEPTEMBER 1, 2020
The home is now bank-owned (sometimes also called REO, or “real estate owned”). Prices can be more difficult to negotiate on bank-owned properties for the reasons stated above, and also because any offers often have to be reviewed by several members of the bank, who all in turn have to answer to shareholders or investors.
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. But if you’re not an experienced investor who has a background in fixing up homes to flip or rent, buying a foreclosure might not be a strategy you want to tackle on your own immediately.
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