Anyone ever buy a foreclosed home?

[midnight armadillo]

With foreclosures at a record high for MA last year (~!9,000+) it makes me wonder what the process is like buying a foreclosed home.

I know it typically involves some sort of auction with a required deposit. Do you get to inspect the home first? Can you get a home at a bargain this way? Even with faling home prices eastern MA is a terribly expensive place. I do my best to bring home the cheddar but medical costs and one salary make it tough to put ourselves in a good buying position.

[jilln]

1. I was considering it...

then I read "Home Buying for Dummis" (or whatever it's called) and there are some compelling reasons in there not to do it. Check it out.

[Ron Green]

2. Yeah, but for me it happened in the wrong order.

That was many years ago, though, and I'm all better now.

[NC_Nurse]

3. I've looked at many, put an offer in on one once.

You definitely want to look at it first. Some people will trash a house that they're getting evicted from. Sometimes they have not been able to afford to make repairs for quite
some time by the time they get foreclosed on.

That said, there are deals to be had. Some realtors sp
Good luck!