Properties that have been returned to a lender through the foreclosure process is commonly called "bank repo", "repo" or "REO" (short for Real Estate Owned by the bank). These properties are generally sold without warranty, and without repair concessions. There are bargains to be found among them, especially if you are willing to do some repairs that may be required. It’s important to have solid financing in place to have the bank accept your offer.
Ask about our foreclosure lists that are updated daily, including properties that are not yet listed on the Multiple Listing Service (MLS).