Foreclosure is a word we all have known but become much more familier with in the last few years. When I begin working with a new buyer I often hear "I want a foreclosure". I think what people really mean is "I want a good deal". I have shown & sold many foreclosures and short sales. Occasionally you will find a foreclsore in good condition but usually they need some work. Often the appliances (including built in ranges) are gone. I have even seen the kitchen sink missing and mirrors gone from the bathrooms. When people are losing their homes they might take anything of value. And they probably haven't kept the house up very well once they knew they were losing it. The banks know how to price the foreclosres too, they are getting BPOs from Realtors so they know the market value and may just subtract the repairs from that. Most buyers that I've worked with really want move in ready homes. They don't want to close and then spend weeks making repairs before they move in. So keep this in mind if you're looking for a foreclosure.