Bank-Owned Property

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Dictionary Says

Definition of 'Bank-Owned Property'

Properties that are taken into a bank's inventory, after a foreclosure sale. Bank-owned property is aquired by a financial institution when a homeowner does not make their mortgage payments. These properties then sell at a discounted price, much lower than current home prices.

Also referred to as real estate owned property.

Investopedia Says

Investopedia explains 'Bank-Owned Property'

This type of property is taken back by lenders during foreclosure. Lenders and banks with the highest bid in a foreclosure gain the rights to obtain the property. Bank-owned properties tend to have low interest rates and low down payments. They can be found through the online service RealtyTrac, or directly through lenders. Large national lending institutions have departments called loss mitigation departments, that sell these properties.
Search results for

'Bank-Owned Property'

  • Purchasing A Short-Sale Property

    http://www.investopedia.com/articles/pf/08/purchase-short-sale-property.asp
    ... Conditions One advantage to both the bank and the seller is that unlike a bank-owned
    property, a short sale property is less likely to be trashed or ransacked. ...

  • The Pitfalls Of Buying A Foreclosure House

    http://www.investopedia.com/articles/mortgages-real-estate/08/foreclosures.asp
    ... banks lock out owners while taking possession of the property, the former ... Either
    way, many bank-owned properties are missing things that generally come with ...

  • Should You Buy A House At Auction?

    http://www.investopedia.com/articles/mortgages-real-estate/10/should-you-buy-at-an-auction.asp
    ... More or better financing options may be available by purchasing a bank-owned
    property the traditional way, instead of at an auction. ...

  • Rent-To-Own Real Estate Full Of Pitfalls

    http://www.investopedia.com/articles/mortgages-real-estate/08/rent-to-own.asp
    ... the property, forfeits the extra rent paid and will have to find a new place to
    live. There is one possible exception: if the home becomes bank-owned through ...

  • Real Estate Deal-Breakers That Shouldn't Be

    http://www.investopedia.com/articles/mortgages-real-estate/10/deal-breakers-that-shouldnt-be.asp
    ... had your real estate agent do a market analysis of your potential dream property. ...
    of today's homes will be purchased as short sales or bank-owned properties. ...

  • Can You Trust Your Trustee?

    http://www.investopedia.com/articles/pf/07/trustee-responsibility.asp
    ... to the Beneficiaries Life insurance located in a trust is referred to as trust-owned
    life insurance (TOLI) - this is similar to bank-owned and company-owned ...

  • Do You Need A Home Inspection?

    http://www.investopedia.com/articles/mortgages-real-estate/08/home-inspection.asp
    ... If these options aren't viable in your situation (for example, if the property is
    bank-owned and being sold as-is), you can get estimates to fix the problems ...

  • 2011 In Review: Regional Banks Are Suffering

    http://stocks.investopedia.com/stock-analysis/2011/2011-In-Review-Regional-Banks-Are-Suffering-TCBI-OZRK-STI-CMA-RF-ZION-SBNY1218.aspx
    ... Consumers are trying to repair their personal balance sheets, property values and ...
    including writing off more bad debt and disposing of bank-owned real estate. ...

  • Top 8 House-Hunting Mistakes Slideshow | Investopedia

    http://www.investopedia.com/slide-show/8-house-hunting-mistakes
    ... In a hot market (or even a hot submarket, with dirt-cheap, bank-owned properties
    during a ... also gives you a chance to research how much the property is really ...

  • Top 8 House-Hunting Mistakes Slideshow | Investopedia

    http://www.investopedia.com/slide-show/8-house-hunting-mistakes/only-one-will-do.aspx
    ... In a hot market (or even a hot submarket, with dirt-cheap, bank-owned properties
    during a ... also gives you a chance to research how much the property is really ...

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