Bank owned properties have usually been acquired by the lender through a foreclosure action and are referred to as REO properties (Real Estate Owned by the bank). Lenders may sell these homes for less than the prior loan balance but that doesn't necessarily make them a good deal, you still have to do your homework and compare other available homes.
For a FREE list of bank owned homes, complete with price, photos and address, shoot me an email and tell me the zip code and price range you are interested in.
I'll send you the list with no strings attached. If you see something that looks interesting and would like the assistance of an experienced broker I certainly welcome the opportunity to see if we would work well together.
Under the tab "Bank Owned / REO" click on a tab for one of the cities for a complete list of homes available with photos and details. Call me if you have questions.