foreclosure bank owned
Do you have to go the auction to buy a foreclosure, pre-foreclosure, or bank owned homes?
Whats the difference between foreclosure and pre foreclosure
Pre-foreclosure is prior to the auction and bank owned homes and foreclosed homes are the same thing, as they have already been to the auction and no one bought them, due to the amount owed and opening bid. You are better off buying a REO (Bank Owned) home. Auctions are all cash but a REO you can finance and get at a better price.
