Realtors aren’t the only ones who can find a good deal on foreclosed and distressed homes. Using this list of free, searchable online databases, you can find homes that are foreclosed, preforeclosure, REO (real estate-owned), foreclosed, and distressed. Most of these services are offered for free or with a small subscription that usually includes a free trial. Here’s where to point your browser to find the right property for you.

An REO is a property that has returned to the lender after a foreclosure auction failed to find a buyer. This does not mean that the property is in such bad shape that no one wanted it; it just means that the required opening bid was not met.

If the loan-to-value ratio is high, the property may not attract any bids and the property will revert to the lender. Bank REOs can be great values on the real estate market. They can also be real stinkers, so be thorough in your research. Here are a few sites to check out:

This list includes well-known banks that cover national or regional areas. You can find other bank properties by searching for the bank name plus the term REO (for example, MyBank REO).