Foreclosure Properties

In simple terms there are two types of foreclosure properties:

One that you will see advertised as foreclosure properties which have been taken back by the lender (foreclosed on) and now the real estate community is selling them for market value.

The other type of foreclosure is best defined as "true bargains."  

These properties are auctioned either by lenders or tax assessors on the first Tuesday of each month.  

You must have cash, or it's equivalent, to participate in these auctions since you will be taking over the title at the time you are awarded the winning bid.