How to buy foreclosure properties

Would you rather pay wholesale or retail prices? Of course, you answered "wholesale." Learning how to buy foreclosure properties can result in exactly that. If you enjoy getting the best bargains and buying merchandise at wholesale prices, the same rules apply to buying wholesale real estate.

Most real estate buyers, especially home purchasers, prefer to buy from real estate agents. As a result, they pay full retail prices. The catalog of homes offered at full price is called the local multiple listing service (MLS) book..

MLS listings are known as full price "red ribbon deals." If you're selling your home or other real estate, listing it with a real estate agent in the MLS is the best way to get top dollar for your property, which is then exposed to the maximum number of prospective buyers who will pay retail prices.

But if you want to buy your home or other property at a wholesale price below market value, then you'll need to learn about the world of foreclosure bargains. Most of these properties are not listed with real estate agents. To profit from foreclosures you'll need to understand the rules of the game.