Purchasing a bank-owned property carries the benefit of a low purchase price, typically lower than a fair market sale property. By the time a property moves from foreclosure to bank-owned status, many of the liens and other expenses have been lifted. With a reduced price also comes the advantage of acquiring a home with equity. If the property is located in a stable area, it's likely that the neighboring property values will be higher. One word of advice: while you can save up to 20% - 30% on the price of a home that is bank-owned, it is unrealistic to expect to acquire a property formerly priced at $300,000 (for example) for $50,000. Please have realistic expectations and you will be "pleasantly surprised." To insure a fast and accurate response, please enter the type of property you are looking for, the price range and the city you would like to live in. Contact me today for a list of local bank owned(REO) properties.