There are so many popular misconceptions about buying foreclosures, especially with the large assortment of “investment” books and infomercials claiming to have inside info about buying properties with no money down, pennies on the dollar, etc. For the average buyer, the reality can be, and is usually, quite different

No agent worth a damn would guarantee that anything specific will happen in a foreclosure transaction, much less being able to close quickly, and if they do they may be putting you in a bad position. If any of the following situations apply, going after a foreclosure or short sale could cost you.