PREO offers you the ability to search and bid on foreclosure homes before they become bank owned. The winning bid is considered and contingent contract to buy the home, once the foreclosure sale has happened. You put down earnest money to secure your bid. The property goes to sale on the courthouse steps, and if the bank is not outbid, the property is yours. In the unlikely event the bank is outbid at the foreclosure sale, you get your earnest money back. It’s an easy and quick way to purchase foreclosures for sale. Additionally, there are REO properties for sale, and ready for purchase today, no waiting. These bank owned homes are ready for an immediate “purchase now” option. All searches are free, so good luck, and happy bidding!