Please note that this is not a rent-to-own property. This property was listed with us as a Real Estate Owned (also known as REO) property. An REO property means that this single family home has been foreclosed on because the previous owner failed to make payments and the property was repossessed by the lender. These types of sales are usually available quickly at a lower price than the normal market value. While a list price is published, potential buyers are available to submit reasonable offers for consideration by the lender. If you would like more information on this studio REO Foreclosure listing in Spencer, IA 51301 please register for contact information.