Hi everyone!!! how can I buy a foreclosure home? Is it a smart move?

Most foreclosed homes are available on the courthouse steps for auction. But bare in mind that most of those mortgage companies send attorneys to buy them back for themselves ( maybe for insurance purposes). Anyhow they are then put into the hands of Real Estate agents to sell. It can be a smart move because you can get more house for your dollar but be warned. You are buying them "as is" you have no clue if or what works. There are no guarantees. So..you might buy a house that has no working electrical, plumbing, heating system, etc. And they will not repair these items to sell. That is why they are sold " as is" . It is a good choice if you can do the repairs yourself. I have seen alot of people make lots of money doing this. And I have seen people lose their shirts too. Good luck.

Talk to your bank, most of them have forclosed homes they need to get rid of. Or talk to a real estate agent and see if there are any on the market. But make sure you can afford it. Most homes are being foreclosed because people are living beyond their means and it catches up to them. Its a good move though, you can get decent homes for a good price.

have a reputable realtor help you through your search

foreclosed homes offer great bargains....many bank owned homes are sold "as is"...... in some cases "as is" is perfect move in condition others are fixer-uppers with cosmetic flaws, others are in very poor or damaged condition....do your homework and be a wise shopper....just because a home is sold as is....doesn't mean to forego the home inspection....still have the home inspected and make an informed decision....

i am currently looking for a home and will likely get one of these bank owned homes...

just remember before they were bank owned they were people owned...only thing is you have to do your research more dilligently....

Buy a home because it is right for you and at a good price. Don't blindly ignore other opportunities. There may be a divorce, transfer, death or other circumstance that allows you to buy a non-foreclosed house much cheaper and in better condition.

Get a good Realtor and have them show you what is available including the bank owned stuff.