I'm going back to the importance of having good representation to complete the research and to guide the purchaser. There are additional documents required in the purchase of a foreclosed property, plus there are no sellers disclosures, but a your Agent should provide you with the name and number of a good inspector, so that you won't go into the purchase blindly. As for FSBOs, representation is essential because most FSBOs do not understand the enormous legal responsibilities inherent in the sale of property. Drawbacks inherent in this type of sale include: lack of knowledge on seller's part as to legal responsibilities, disclosures, title, and the all important question of who pays what fees. All in all, there is less stress, and a smoother transition, on the part of buyers who purchase from an Agent.