What are the proper steps to obtaining a foreclosed home?

Question:Can you give me a detailed step by step to obtaining a foreclosed home? Thanks!

Answers:
I purchased a foreclosed home in May. It really isn't much different than buying any other home.

My Realtor took us on showing of it. Be prepared for a mess. You have to look beyond the cosmetic problems, because there will be many of those.

We then made an offer contingent on on inspection. The bank allowed this, but said that they wouldn't fix anything the inspection found. I recommend doing this, the inspector will find anything that might be wrong with the house that is more than you want to deal with. Our inspector found a few minor problems, but everything was structurally very sound, so we went ahead and purchased the home.

We offered less than the asking price and the bank took it. Don't be afraid to offer less than they are asking.