If the house is up for foreclosure soon you should work with a local realtor to see if the current owner will short sell the home. Once the home goes back to the bank you will only be able to buy it once the bank lists it for sale with a realtor any way. And there is no telling when that will happen. Banks are notoriously slow and do not seem to be in a hurry to dispose of these properties. Furthermore, once it IS listed with a realtor, there is no way to guarantee you are 'first in line'.
Find yourself a good buyer's agent and see if you can purchase the home now before it is foreclosed on, otherwise you could be waiting a very, very long time.... more