Dealing with foreclosures is much more difficult than buying a re-sale or new constructin home.
There certainly are some good values out there, but as Keith & Ute have indicated, the bank contracts & addenda definitely favor the banks & take precendence over anything you may have put in your offer.
Do take the time to read & re-read things & for your agent to read carefully. Check on the earnest moeny requirements carefully.
& be aware that banks operate on their own time schedule. Many do not respond in a timely fashion.
I hope you will find a house that will suit you well & will have a smooth transaction..
Metro Brokers GMAC