<prompt> Human: So Ive been looking at buying a home with my wife for a couple of months now. Weve come across this great looking house for only 41k. What a steal! Even if we needed to put another 40k in for repairs, it would still be cheaper than anything comparable in the area. Uh oh. Its a foreclosure. Its listed with a local real estate agent, so Im ASSUMING that its a bank REO property. Also we are going to look at it today with a realtor. Ive been reading all day about the pitfalls of buying a foreclosure, but they dont seem to apply to this house. Most things Ive read, even here on this sub, are taking about auctions, not being able to see the house before buying, etc., which I think applies to a house going through the foreclosure process. But this seems to be one that has already gone through that and is now simply being offered for sale.I guess Im wondering if theres any circumstance in which this is worth it. I can only find negative things about buying foreclosures, but the price is tempting regardless. Am I setting myself up for disappointment? I feel like this is too good to be true, which usually means it is. Edit: Went to look at the house today. Foundation has no visible cracks. It does have mud tubes in one spot from termites. No visible damage on baseboard. There are a couple of small cracks above two or three windows upstairs. May be just cosmetic. The house was winterized, but not until Jan 20th. May have been too late to save the plumbing from cracks. Electric was on and functional. Only one light fixture didnt turn on - may have been a burnt out bulb. Siding is in good condition aside from paint. Some leaking in the basement in the corner; outside there is a downspout running directly into the ground of that corner of the basement, probably causing the issue. New roof and furnace are necessary.Assistant: My last home was a foreclosure purchase. If they permit an inspection, do it. Be sure to get a full pluming exam as well - general inspections done scope the main line.It was a ton of work. Everything broke or needed replacing in the first two years. I found YouTube and friends helpful in making repairs. You will learn to do the work or bleed money!We sold it at the five year mark for double the original purchase price.Human: I fully expect a new roof, new furnacewater heater, all new appliances, fully gutting and replacing carpetpaintcosmetic interior items, and potentially all new siding and windows, or some sort of foundation repairs. House was built in 1969 so it isnt ancient, but still old enough to have plenty of problems. My biggest concern is somehow needing completely redone electric, plumbing, or HVAC, as those are the most hidden of issues and potentially the most expensive.  <response>: Bad foundation tear down 