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.
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.
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.
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!
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 firstname.lastname@example.org.