The primary benefit of purchasing a foreclosure is the price. Everyone is looking for a great deal whether it's their own home or an investment property and many gems can be found in the foreclosure market.
With a traditional purchase there are more safety guards in place. With a foreclosure it's difficult to see the full history of the property. You may not get a Clue Report, or Seller Property Disclosure Statement (SPDS). You can consider it more of an "As Is" purchase.
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