Determine your budget and financing options
Get preapproved for a mortgage or secure cash funds
Research foreclosure listings from banks, lenders, auctions, and government websites
Hire a real estate agent experienced in foreclosures
Inspect the property if access is allowed
Check title records for liens, taxes, and legal issues
Review auction rules, deadlines, and payment requirements
Estimate repair costs and total acquisition costs
Set a maximum bid or offer price
Submit a bid at auction or make an offer through the lender
Provide required deposits or earnest money
Complete due diligence and legal review
Close the purchase and pay remaining funds
Record the deed and transfer ownership
Arrange insurance, repairs, and utilities after purchase