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Locate properties scheduled for foreclosure sales by checking classified newspaper ads for listings under Foreclosure Notices, Auction Sales or Sheriff’s Sales.
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Step 2

Notify local real estate agents and attorneys that you’re interested in purchasing foreclosed properties.
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Step 3

Check with local lending institutions and government agencies – such as the Federal Housing Administration, Veterans Administration or Department of Housing and Urban Development – about foreclosed properties in your area.
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Step 4

Investigate foreclosure proceedings in your state.
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Step 5

Inspect the foreclosed property to determine its condition and market value; obtain sales prices of comparable properties in the area from a local real estate agent.
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Step 6

Determine ownership, identify potential problems and research any existing liens by conducting a title search on the foreclosed property.
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Step 7

Contact the trustee of the foreclosure sale to inquire about the minimum bid the lender will accept.
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Step 8

Determine how you’ll finance the foreclosed property or find out if the current loan is assumable.
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Step 9

Make an offer on the foreclosed property by bidding at the foreclosure auction or submitting a sealed bid to a lender after the foreclosure sale.

From: http://ping.fm/pnzPk