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Shopper's Market: Money-saving tips for home buyers

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    Ins and outs of purchasing a foreclosed house

  • Duration 1:35
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The housing market may still be struggling to gain solid footing.

But low interest rates and significantly.

Discounted prices make it a great time to purchase a home in most regions.

The average savings right now on a foreclosed homes about 27% vs -- non distressed properties now in some markets you -- say forty if not efforts at 50%.

Financial expert -- -- Gibbons says this get the auctions your first step should be a web site like zillow.

You don't have to -- the courthouse you don't have to look through legal filings he does -- have to find out.

The good it was at that actually -- these properties and scan and search.

Working -- real estate agent will save you time and aggravation.

Didn't help you with the contractors with the inspections and sort of walking through the entire process which is a particularly good way to go particularly if your rookie and a lot of people jumping this game our first timers.

Many foreclosed homes have been sitting vacant for long periods of time budget for plenty of repairs and renovations.

With -- -- after the bank it's going to get to the U.

He really have to budget for these renovations and these repairs accordingly because it could be significant.

When it comes time to be it -- says banks won't budge much on foreclosed properties.

You won't have a lot of with a win in terms of price to thank wants to sell as is -- their price but you may be able to negotiate a little bit.

Based on a couple of different factors.

Also consider the condition of the property the surrounding neighborhood and get your financing preapproved.

Before you make a bit.

In New York Brenda Buttner Fox News.

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