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A distressed property is when a home is in a poor condition and requires improvements. It is a property that is on the edge of foreclosure or is promoted available to be purchased by the lending institute. Distressed properties are bought for less value as the asset is sold due to emergencies, the price can be much lower than the market value. Additionally, not all distressed properties can meet the requirements of a loan specialist, given the property’s condition. You’ll need an appraisal (not mandatory in all cases) from the court, and the lender/ loan specialist may conduct a survey on whether the property is habitable. On the other hand, distressed property sales are more complex compared to general home sales. Factors like foreclosure, repairs, vacancy orders and infringements put houses at risk, which results in urging the seller to consider other options like traditional home sales.