The other way to tell is take a look at the tax record. This is public information. Many tax authorities have it on line and you can find out that way as well. If you are in an area where it is not online I would check with your agent.
I hope this information helps! Best Wishes!
Another sign that it is probably bank owned is a reference to "sold as-is" in the remarks about the property.
Good luck with your home search! It's a great time to be a buyer!
Some good responses. The Multiple Listing Service for Wayne County Realcomp also has special fields where Realtors(R) such as Maureen, Nicole, and I can use to differentiate properties. These are:
Lender owned foreclosure
Subject to Third Party Approval (short sale)
Another remark frequently noted is something along the lines of EMD (earnest money deposit) to be held by Listing Agent.
Consumers are able to use Trulia to search for foreclosures, through Realtytrac and could use any of the terms in this thread to search for foreclosure properties in Michigan.
I wish you luck with your purchase. Please educate yourself on local government requirements.