1. In order to view a foreclosure, you will need to schedule an appointment with a realtor. It is best to have a Buyer's Agent represent you in your home purchase, including a foreclosure, so that your best interests are being protected. What I mean by that is that a good Buyer's Agent will include contingencies in the contract such as financing, appraisal and inspection. That agent will also do a comparable market analysis for you so you can see what similar houses have sold for in the past 3-6 months. This way you will know you are getting a good value.
The attorney will do a title search as they do for all home purchases.
Buying a foreclosure has its positives and its negatives, just like any purchase. Many, if not most, foreclosures are in disrepair and will need cosmetic work, if not more. However, there are some that have been well maintained. The condition should be reflected in the price. You need to consider if you have the time, money and/or energy to complete the repairs needed to make a property a home you'll be happy living in. You will not get a seller's property disclosure like you would with a house being sold by the owner, since the bank that owns the property has never lived there.
There are addendums to the contract that will over ride some of the provisions in the standard GAR contract. They vary but typically protect the seller. The one "gotcha" that is very common is the per diem charge. This is where the buyer is charged $100 or more per day if the property does not close on time (unless it is the seller's fault). That is one reason it is good to schedule your closing 45 days from binding agreement date. That will give you plenty of time. But if you are competing with other offers, a quicker closing may be looked on more favorably by the seller.
There are some very good buys in new construction that the builder has been unable to sell. There are also motivated sellers that have to sell, due to being tranferred or having already bought another home, divorce, estate sales, etc.
I recommend you work with an experienced Buyer's Agent who will show you enough homes that you will recognize a great deal when you see one, without anyone having to tell you. Once you have seen enough homes you will easily recognize which ones are overpriced and which ones are priced to sell.