Foreclosures can be tricky purchases. My husband and I are interested in a foreclosure and it's been a rollercoaster, and not in a pleasant way. You are going to be liable for any municipal liens on the property (back taxes, water, sewer, etc) and you are buying the house "as-is, where-is". Definitely get a Buyer Agent along with an attorney and I would suggest you purchase title insurance if you can find it for a foreclosed property transaction. If it has a private sewage system (septic tank) it might need to have the soil replaced at your expense. Also, how soon would you be able to get a Certificate of Occupancy and what would it take to get one? Make sure you get inspections done so you know what you're getting into and ask alocal Realtor or your attorney to write up the offer so that if the inspection comes back that this home is more than you can handle, you can back out of the transaction.