If you are considering purchasing a foreclosed property there are a few ways to do it. Home buyers can purchase foreclosed properties through pre-foreclosure which allows you to purchase a house directly from the homeowner before it goes into bank foreclosure; at auctions where you will bid against other interested buyers; or properties that are Real Estate Owned also known as REO.~~Conduct a “title search.†This process can help you find out whether the property has a second mortgage or lien against it. If it does you may be responsible for paying off the initial mortgage any second mortgage loans and any liens on the property before you can take ownership.~~Be aware that if you purchase the house in an auction you may not be able to look inside the home or conduct a home inspection in advance of the sale. Properties sold at auctions are usually sold “as is.†This can create problems when trying to obtain a mortgage loan.~~Obtain help if you need it. Find a real estate agent that is experienced in foreclosures. Have your agent check nearby or comparable homes to see if the asking price for a foreclosed home is in fact a bargain. Foreclosure laws vary from state to state so check the laws in your area by contacting your county clerk’s office.~~Listings for all auctions and foreclosures in USA are in public domain and must be distributed free. If you think that the information sold to you by a paid list provider is useless you should demand an instant refund! If you feel you were a victim of the fraud committed by the for-profit foreclosure list provider you should call your District Attorney’s office and the BBB.