Foreclosures are an often misunderstood real property. Often times this action is not an action under duress. Some foreclosures occur due to the death of a person with no lacatable heirs. Sometimes the owner may be hospitalized or placed in a nursing home. Oftentimes it may be a judgement error, but most often it is a deliberate act on the part of the owner. In any case, any of the above amd many more reasons for a property being foreclosed upon. Some sellers of REO properties do tend to price them competitively so that they do not remain in inventory for long periods.