Bank Owned Properties normally sell at discounts of between 4 and 12% depending on the price range and area. They can provide an easy way to "WALK INTO" equity if purchased correctly. Urban legends tell of people getting 40% discounts on homes. That is just not so.  You can look at public records and see that.  What bank owned homes do offer is the chance to move up into a home that in a normal economy might have been just out of your reach.

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