5 steps to buying a distressed property

1. Get preapproved for a mortgage.
2. Find an agent specializing in foreclosures.
3. Know how long it takes to sell a home in your price bracket.
4. Study the sale prices of comparable homes in your area.
5. Remember the sale is for the home as is.

Read more: 5 tips for buying a foreclosed home http://www.bankrate.com/finance/mortgages/5-tips-for-buying-a-foreclosed-home-1.aspx#ixzz1bo4LKDJl