distressed property

Distressed property refers to real estate that is in poor condition or facing financial issues, such as foreclosure or bankruptcy. These properties may need significant repairs, suffer from neglect, or be in a tough location. Often, they are sold at a lower price because of their condition or financial troubles. Buyers of distressed properties might look for investment opportunities or aim to renovate and improve them. Overall, investing in distressed properties involves both risks and potential rewards, as it requires careful consideration of costs and the property's future value.