The properties shown below represent the Bank-Owned condos for sale in South Beach, Miami and close by downtown Miami.  These are the best deals for sale in Miami real estate.  Bank-Owned properties, also known as REO (real estate owned), are sold by the lien holder / loan institutions that need it sold quickly.  Therefore, many if not all are sold at below market values.  In South Beach Real Estate, this means big savings and discounts on world-class properties.