Online House Hunting

What is the best way to buy a foreclosed house? Is there any secret to it?

Looking to buy a house that has been foreclosed on. What is the best way to go about this? Any tips?

Public Comments

1. CASH. Money talks.
2. I suggest you check your local paper for information regarding local bank foreclosures. Also, it's best to seek advice from a local professional.
3. at your moms house
4. You have to do a thorough market analysis, title check and inspection if possible and of course have cash. Many foreclosed homes are in such disrepair that they will not qualify for bank financing and also after the auction you must have the balance paid in 30 days. Another setback is that you will be bidding against others which will drive the price up. You definitely need to check into these things before you decide to purchase.
5. All you have to do is call different banks, like Countrywide, etc. Ask them if they have any listing for a foreclosure. They will give you verbals and 30 days to finance the home