Distressed residential properties are divided into two broad categories in RPR: Pre-foreclosure and Foreclosure.
Pre-foreclosure properties have been issued a recorded Notice of Default or Notice of Trustee Sale (or an equivalent status; different states use different terminology).
Foreclosure properties have officially been reclaimed by the Lender or Creditor via a recorded Foreclosure Deed or Sheriff's Deed. These properties are identified in RPR Search Results, Property Details pages and Reports with a red "Distressed" label. A property's Distressed status is cleared when a subsequent sale is detected by RPR.
In addition, some participating MLSs provide distressed codes in their listing data. RPR assigns a Pre-foreclosure or Foreclosure status to active listings with associated codes. These listings are identified in RPR Search Results, Property Details pages and Reports with a red "For Sale" label. A property that is distressed with a sale pending, according to MLS data, shows a maroon "Sale Pending" label. A listing's Distressed status is cleared once it goes off-market.