<prompt> Human: I found a 3 bedroom house that is about 40 below market price near my neighborhood. The school district is excellent, property taxes are relatively low, and the house is in pretty good shape. I went to see it last weekend. Venting might need work, and the kitchen will need new appliances, but other than that, its all good. No mold in the basement, the pipes arent leaking, stairs are in excellent condition. I found out that the family was evicted due to foreclosure.What are the downsides of buying a foreclosed property? What are the challenges? How much money relative to the price of the house should i have saved? What kinds of professionals do i need to get involved?Thanks in advance!  <response>: I would get an inspection done and if all checks out, GO FOR IT! A foreclosure isnt an alien spaceship, its a home for sale by the bank. Dont be scared by it. Get repair estimates, an inspection done, and take all of that into account when sending an offer. 