Connie,

Depends on the definition of Foreclosure.

Foreclosures - bought with cash at auction. (Optional hard money loan if you want)
Bank Owned - usually listed, traditional financing
Corp. Owned - Same as Bank Owned
Short Sale - Negotiating with Bank to take less than what they should receive.
HUD Homes - Same as bank, different style of transaction but roughly the same

So with the exception of a TRUE foreclosure, you can buy any "foreclosure" with financing options.

Connie,
You should not buy at an auction unless you know exactly what you are doing. There are a ton of foreclosures out there and using a REALTOR is definately a good idea to locate them and have osmeone assist you in the process that is watching out for your best interest.

Connie
First off you really do not want to buy at an auction. This is due to the fact that you are not able to look at the property to see what condition it is in. Also most homes do not sell, but go back to the bank/mortgage company and are eventually listed with a "Realtor". I Handel foreclosed properties for an REO company and would be more than happy to work with you. You can use a conventional loan, or FHA/VA loan to purchase.
Curtis
404-405-6713

Absolutely...you can buy a foreclosure with no money down! I did back in December with the help of my agent, Brenda Richterkessing.

Hi Connie -
You can view in advance a list of homes that are going to be sold at the courthouse steps, by visiting http://www.fayettedailynews.com and clicking on the "legals" link. Homes are published for 4 consecutive weeks and then sold on the first Tuesday of each month.
Also, homes listed in the MLS can be searched for "foreclosure status", Being that you are a cash buyer, that shows strength when negotiating with banks (they know in advance, that your offer is NOT contingent on you getting a loan.
DO NO fall for a scam selling you a list of foreclosed homes. You can get these for free at the newspapers legal notice. PS - Foreclosures in PTC are few and far between compared to in-town Atlanta. All the best in your efforts!
Martin

Yes. Foreclosed properties are first offered to the highest bidder on the court house steps. If there are no takers at that time the bank takes possession of the property and after securing vacancy, researching the title and determining the asking price, the bank usually list the property for sale with local real estate broker. Buyers can then view the property and make offers just like any other listing. There are some general stipulations with most foreclosures that include using an attorney of the seller's choice and purchasing property "as is" but you can finance the purchases or pay cash.

HUD foreclosures are listed with brokers as well; however, offers must be submitted online through a HUD approved broker.

Connie, I am HUD approved and would love to help you find a great deal on one of the many foreclosures available. You can reach me at 770-722-8376 or mwlester@msn.com.