: For buyers willing to invest in renovations, this discount can create "instant equity," where the total cost of the home plus repairs remains lower than the market value of a finished home.
: Foreclosures often sell for 10% to 15% (or more) below market value. buying a foreclosure from a bank
The Paradox of the Bank-Owned Home: Risks and Rewards of REO Purchasing : For buyers willing to invest in renovations,