I concur with the others and add this: Get a buyer's agent familiar with your area, especially one who knows about buying foreclosures. In most states, and most foreclosure situations, buyer's don't pay the buyer's agent commission; the bank/seller does. However, there may be other 'buyer fees' unrelated to the agent's commission. A good buyer's agent will know or find out about those fees upfront so you can make an informed bid/decision, and help you prepare a winning offer. Sellers and banks are professionally represented, you should be too. A professional vested in your interest will make all the difference in securing a good purchase.