Many home buyers are looking for foreclosed homes with the hopes that they'll steal a deal and feel good about it. Unfortunately, it typically takes longer to close a deal if it's a foreclosed (bank-owned) home. If you are not limited on time and don't mind the risk of having to put in a lot of money to fix your home in the short run, a foreclosed home may be a good fit for you. 

For those who are first time home owners and aren't good at fixing and construction, I don't recommend you looking ...
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