By Doug E Smith

I’m sure you’re aware of the real estate and foreclosure crisis going on in the United States. Because of this, there is an excess of homes on the market. Obviously some properties will be run down in unappealing neighborhoods as usual, but what’s different this time is the surprisingly increasing number of well kept and even executive style properties that are up for sale for pennies on the dollar.

There are some great values out there but in order to take advantage of them you should first be aware of both the advantages and disadvantages of buying a foreclosed home at a government auction versus the conventional method using a Realtor.

Here are some advantages to purchasing a foreclosed or pre-foreclosed home:

- Price is the number one reason to purchase a foreclosure.

- Many homes are in good condition for much less than their market value.

- Variety and selection ..

Source: government auctions