Risks of Buying a Foreclosure (click the links to read more)
Bank Addendum – Always written in the bank’s favor
Timing – Impossible to control turnaround time
Property Condition & Inspections – Unlikely (impossible?) to get repairs made, and careful to retain your ‘right to void’
Title Defects – Be sure to have your own title inspection done!
Financing Complications – Timing and property condition issues combine to create complications with financing, too.