We have an updated list of Arizona Bank-Owned homes.
Bank owned properties are properties that have been repossessed by the bank due the fact that the home was foreclosed upon. The bank works with Arizona real estate agents and buyers to sell the homes. The banks do not want the property. They are in the business of financing not owning property. Therefore the price of the home is set to sell within a reasonable amount of time.
If the home has equity in it, the bank will try to get market value for it. Remember, the property is most likely physically distressed since is was foreclosed upon. Generally banks will require some money down from the buyer's pocket.. But we can see situations when the seller, the bank, will pay for some or all of the closing costs
