These homes are bank owned having been foreclosed upon. You’ll find some great opportunities with these homes as most of the banks will offer to help a buyer get their loan. Since these are bank owned, it can take a bank a week to 10 days to respond to your offer as they are looking for the highest and best offer they can get. You’ll be buying these homes typically in “as is” condition as banks often do not make any repairs to these properties. There is tremendous upside potential with these homes and yet they sometimes require some work, but not always. This is also a great place to find “fix ‘n flip” property purchase opportunities for those investors looking to make a fast return on their investment.