there are some corporate-owned homes that are actually purchased by an employee's company as part of a job-transfer

Hi Kim,

A "corporate-owned" property may have been bought by a separate entity or company through an auction, as was stated below, or perhaps through buying a "tape" of property through a bank (ex: a private corporation buying $20 mil worth of properties from a bank and then putting them back on the market). In corporate-owned or bank-owned cases, they are both foreclosures.

If you would like to find more info on foreclosures in Los Angeles, please let me know. I'm currently in escrow on 3 corporate owned or bank-owned properties throughout Los Angeles and have great experience in dealing with the these types of transactions.

Sincerely,

Grant Linscott
Keller Williams Realty
323.333.6222 cell
grantlinscottproperty@gmail.com

Kim,

In some instances a corporate owned home is one that has been bought at auction/trustee's sale by a corporation or LLC, who then turns around and re-sells the home. We see this alot with flippers who re-hab the home and put it back on the market. When dealing with a corporate owned home and FHA we always have to check to make sure that the home has been owned for more than 90 days or FHA won't insure.

So corporate and bank-owned aren't always the same.

All my best,
Micki

Kim,

This is just another example of muliple terms to define the same situation.....they are one and the same.