If you want to buy a house at a very low price, bank foreclosures are the perfect opportunity because the banks are in a hurry to realize the profit ant that's why they accept an amount of money that is lower than the common price. Other advantages related with owning a foreclosed home are that you can inspect the house so that you can be sure that you want to invest your money in it and that the banks are ready to negotiate the conditions of payment. Before you buy the property, it is necessary to do some research like inspecting the house and survey the location and the neighbourhood. It's also important to notice after locating a property that you decide if you are going to use it for personal things or as an investment.
Arne De Smet
source: http://www.themoneytimes.com/featured/20101002/foreclosures-buying-home-less-id-10130208.html
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