Homebuyers in the market for a deal on their dream home need two things: lots of patience and the stomach to do battle with investors. Any home that is in a decent area and priced right is facing keen competition in today's market.
Homebuyers in the market for a foreclosure need those qualities tenfold. Buying a foreclosure is a lengthy process, and, although most investors prefer pre-foreclosure sales and auctions, you will face your share of competition for bank-owned homes.
Let's take a look at some foreclosure-buying options and how to participate.