Bank reposessions are properties bought directly, from an agent, or at an auction from a lender who has foreclosed on a property over which they held a mortgage.
The bank does not usually want to retain ownership of the property for any length of time, so it can be possible to pick up a real below-market-value bargain when buying a repossessed property.
In over-supplied markets where there is a glut of similar properties, it can take a long time for prices to recover, so you may need to take a long term view with this kind of opportunity.
What are bank repossessions?
How do bank repossessions work?
What are the returns from bank repossessions?
Potential advantages of bank repossessions
Potential downsides of bank repossessions
How do bank repossessions perform?
Who are bank repossessions best for?
