How do you find distressed homes for sale?

I am interested to search for a cheap home. Do you find a cheaper home buying it from the owner before the owner goes bankrupt or do you contact the mortgage company or do you find a cheaper home to contact the bank after they repossess it or how would you find the best buy? It would not be a concern if the house was new and not finished.How do you find distressed homes for sale?
The ';cheapest'; deal will be an REO (Real Estate Owned) meaning the place went thru foreclosure, didn't find a buyer at the foreclosure sale and went back to become the bank's property.





Banks aren't happy being in the Real Estate Business and usually try to sell the houses at a deep discount.


It also has the benefit that you won't encounter a hidden lien or second mortgage since all of these have been erased when it goes back to the bank.





On the other hand... be ready to spend money to fix the house and property... they are usually in need of some TLC.





REO are usually listed with Real Estate Agents but you can also inquire at the bank.How do you find distressed homes for sale?
Talk to a realtor. OR


www.bankofamerica.com look for the homes for sale tab, they list the homew they own

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