Buying bank-owned and distressed property

Bank-owned and distressed lots come to market when a lender or authority needs to sell — for example after a default or in an insolvency. They can offer value, but they also demand extra care: sold as-is, sometimes with tenants, unpaid charges or limited seller warranties.

On BidHome these lots are clearly labelled, and the same protections apply — verified bidders, escrow deposits and completion at a notary. Read the file closely, budget for any works, and confirm what's included before you bid.

• Expect as-is condition and thinner seller warranties.
• Check for tenants, outstanding charges or servitudes in the file.
• The auction, deposit and notary process are the same as any lot.

General information, not legal advice.