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Watch out for the reasons above....definitely pay for a title search beforehand.
If you're patient, and wait to see if it won't sell for their price floor....wait and you'll get it cheaper.
We tried to buy a home last summer in limbo of being forclosed on for a goingoutofmarriage sale. My fair offer was laughed at.....and I'd have paid about 10k more with the counter I expected.
After it was a no-sale at the auction due to the debt against it.....another guy bought the house for $15k less than my first offer.
They'll(bank) might take a pretty savage beating once its on their books, to get rid of it, especially with all of the homes going back.
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