Buying Foreclosure Homes

I get asked every once in awhile where to find foreclosure properties. What most don't understand is that the properties go to an auction at the courthouse steps first and you can only pay cash.

If the bank doesn't get enough then they list with a Realtor at expected market prices. Besides the fact that banks for some reason try to make things difficult, they take forever.

So unless you have cash, you are not going to be getting any better of a deal than if you negotiate on any other piece of real estate.

Here is an article on buying home at an auction.