Often when people think of buying a foreclosed home, they think of stepping into the home of their dreams for a great price. This scenario is possible and if you are prepared and know what to look for, you can find some great bargains.
However, the flip side of that is that foreclosed homes can also be your worst nightmare. You might find the house needs major repairs, which will require some serious money to be invested.
Unfortunately, some people losing their home through foreclosure purposely do damage because they do not want anyone else to enjoy the home.