Last updated: October 2026 · Editorial standards Real estate auctions offer the possibility of buying homes below market value — but they come with serious risks that make them appropriate only for experienced buyers with cash. Here’s a complete overview. Types of Real Estate Auctions Foreclosure Auctions (Courthouse Steps) The most common type. When a…
Last updated: October 2026 · Editorial standards REO properties — homes owned by banks after failed foreclosures — offer an accessible way to buy distressed real estate with standard financing. Here’s what you need to know. What Does REO Mean? REO stands for Real Estate Owned. When a foreclosed property doesn’t sell at auction, it…
Last updated: October 2026 · Editorial standards Short sales can offer below-market prices — but they’re among the most time-consuming and unpredictable real estate transactions. Here’s what to expect if you’re considering buying a short sale. What Is a Short Sale? A short sale happens when a homeowner sells their property for less than they…
Last updated: October 2026 · Editorial standards Foreclosed homes can offer below-market prices — but they also come with risks that standard home purchases don’t. Here’s a complete guide to buying foreclosures at each stage of the process. What Is a Foreclosed Home? Foreclosure happens when a homeowner stops making mortgage payments and the lender…
Last updated: October 2026 · Editorial standards Getting a mortgage for a condo is more complicated than financing a single-family home. Lenders don’t just evaluate you — they also scrutinize the condo development itself. Here’s what you need to know before making an offer. Why Condo Loans Are Different When you buy a condo, you…