A foreclosure is when the lender takes possession after the borrower defaults, then sells the property. You can buy foreclosures at auction, through REO (bank-owned) sales, or as short sales. Each has different risks and opportunities.
General Real Estate
What Is a Foreclosure?
Patrick Kevin FaganUpdated August 18, 2026Patrick's Take
"Foreclosures are not the automatic bargain people think. Auctions carry huge risk. You often cannot inspect beforehand. REO sales are safer but competition is fierce from cash investors."
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Patrick Kevin Fagan
Loan Officer and Realtor · AXEN Realty LLC
Sales Agent · 454749 · TX
Looking at Foreclosures?
Patrick can help you understand the risks and find the right opportunity.