A forced sale, also known as a distress sale, occurs when the owner of a property is compelled to sell, often at a price lower than the market value, typically due to urgent circumstances such as financial distress, legal judgments, or repossession.
REPO stands for reposition, and in the real estate context, it refers to the repossession of properties. It may also relate to the repurchase of notes, generally focusing on distressed assets.
Repossession refers to the forced retrieval of property by a lender or lessor when a borrower or lessee defaults on contractual obligations, such as missing payments. This legal process primarily involves reclaiming collateral used to secure a loan or leased items and is often juxtaposed with the term foreclosure.
