There are a number of factors to consider when purchasing a foreclosed property. If you have an urgent time frame, you may find that you have to wait longer than normal to get the transaction processed. In addition, most foreclosed homes will be sold "as is", so it is important that you have a very detailed inspection. In the West Michigan area, there is a lot of inventory, so it is wise to check around. We have often found that today's buyer's market makes purchasing a foreclosed home just one of the many possible options to explore in obtaining a great deal on your next home!