This house is now under contract, since June. 2nd. It was also in contract once before but never sold. If for some reason, it doesn't close, it likely would be available for sale. It is not a short sale according to the GSMLS.
I recommend the protection of an inspection contingency on any transaction. With a foreclosure, there's no money to remedy issues, BUT if they are serious enough for you to want to walk away, the inspection contingency will give you the option.
I say an inspection is money well spent.
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