The assessed value of this home by Howell Township is only $389,100. If you want me to email you a copy of the expired listing or see what the house actually has in it, square footage, etc, please drop me an email at email@example.com or call me at (732) 580-1546 and I'll send you the link. $500,145 seems on the high side to pay for this home in today's real estate market. Also, when buying a house foreclosure usually it is sold "as is". Recommend a building inspection if possible. Utitlities should remain turned on.
Bank usually not responsible for condition, disclosures, or repairs. Sometimes beneficial to wait until the bank actually takes possesion of property. Recommend getting an appraisel of property prior to purchasing as well as a comparative market analysis (I can help you with that ). Good luck and remember, Buyer Beware!