I'll post and update this page with foreclosed property purchase information: If you have tips, you are welcome to comment. Via Quora responses at: https://www.quora.com/What-is-the-process-for-buying-a-foreclosed-home Here is some quotes taken from the above link: note that they are responses from 2013 and 2014 - if there are much updated information, it would be helpful Sean OToole , Broker, Investor, Speaker, Market Analyst, CEO of PropertyRadar Answered May 1, 2014 With regard to a "foreclosed" home, which means it is now owned by the bank, it is exactly like buying any other home with a couple of key differences: 1. The seller is a bank. They tend to be less responsive so don't expect a quick response to your offer, or to any issues that come up during escrow. 2. The seller has never lived in the property. As such their disclosures about the property are worthless, and they are going to make you sign something saying that you acknowledge that. Ultimatel...
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