These properties can be listed for sale just like any other on-the-market home, but they aren’t owned by a homeowner — instead, as the name implies, they’re owned by a bank.

If you pursue a bank-owned property, it’s wise to work alongside a real estate agent with experience in bank-owned properties who can show you comparable properties in the area and guide you ...

Real Estate Owned are properties taken over by the lender when the borrower defaults on their loan. They may put on the market at a discount to recover some of the lender's costs.