Here are your options on buying a foreclosure:
1. If you have all cash you can go the the foreclosue auction. Be careful. You can buy the property for the price offered but end up with other loans on the property and there isn't financing avaiilble.
2. Purchase a pre-foreclosure (short sale) listed on the MLS using a Realtor.
3. REO: This is a property that has been on foreclosed on and is listed for sale by the bank on the MLS.
Option 2 and 3 allow for financing and option 1 you need all cash and cannot usually get into the house before you buy it.
The Carrabba Group
Keller Williams Hollywood Hills