Hi, my name is Tammy Ardoin, and I am a Realtor with Prudential Real Estate here in Lake Charles. The process for purchasing foreclosures or REPO's as we call them is actually very easy. Once a mortgage company obtains the property back into their name thru the sheriff's sale, it is then placed in the hand of an asset management company to handle the re-sale of it. The asset management company will obtain two or three BPO's (which are kind of like an appraisal) from different Realtors and choose one to list the property. It will then be on the market along with all other listings for buyers to choose from. The only difference is that the asset management companies sometimes take longer to reply to offers or counter an offer. I have been a Realtor covering the entire southwest Louisiana area for about 7 years now, and two years ago obtained my ABR (Acredited Buyers Representation) degree. If I can be of any assistance in your home search, please feel free to contact me at (337) 884-5214.