Websites like Hubzu, Bank Foreclosed Listings and Home Search allow Internet users to peruse listings of bank-owned homes acquired either through standard real estate purchases or through repossession or foreclosure proceedings. Banks are often motivated sellers due to tax liability and the cost of upkeep on unoccupied properties, so prices may be low and financing plans can be flexible depending on buyer's means.
Hubzu deals primarily in foreclosure properties and advertises its site's total transparency. Property listings are kept up-to-date on a highly regular schedule, meaning buyers will know very quickly that their transaction is complete or if there is another offer made on a property they have expressed interest in.
Home Search deals with a broader pool of homes than Hubzu, but it also lets users search specifically for foreclosed and bank-owned homes. It allows for searches to be filtered by location, which means users can pare down lists of results to include only their surroundings or the area in which they wish to purchase property.
Bank Foreclosed Listings uses many databases of foreclosed homes, including the Housing and Urban Development commission's own lists, to connect buyers with foreclosed properties across the United States. This makes it an especially extensive listing agency to make use of.