So you’ve found the house- it’s the one you want and you’ve got your heart set on it. Only thing is, it’s been foreclosed upon. What now? Don’t panic. It can still be yours, but it’s important to know about buying foreclosed homes before you do so. We’ll walk you through a few basic steps.

-The two most common ways of buying a foreclosure property are through a home investor (like us), a relator, or through a public auction

-Be sure about the condition of the home. Because many foreclosed homes are repossessed by the bank, there may be no record of property repairs or maintenance. Just be on the lookout.

-Get a real estate specialist (Like Property Solutions of Colorado). If you have never purchased a foreclosure property before, it’s best to go through a professional, as they know what they are doing. They can guide you through any paperwork that may come up and help you determine if you are getting a good deal.

-Have the property inspected. This is often overlooked and can come back to haunt you. A property inspection will help you know more about the actual condition of the home, how much possible repairs may cost you, and whether the offer is fair.