Bank Owned Homes or REO's as they are called, are an excellent starting point for an experienced investor or beginning home buyer. Usually priced at a discount, many are good opportunities for fixer uppers with built in equity. The homes are always vacant and easy to show.  Even though the paperwork can be a bit daunting they are much easier to negotiate than a "Short Sale" and can usually close in half the time.  Most of my listings you see on this site are REO Listings. Some are tremendous bargains.  http://www.streamfx.com/CW/1-17-2008/REO-Nevada3.html 

If your serious about buying a "Bank Owned Home" REO, call us, We can provide you with the most up to date list of bank owned homes that meet your criteria.