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As if there’s something foreboding waiting to descend on the next homeowner. But that’s not the case; they’re just the product of a difficult financial situation. Some homes are modern, attractive, and move-in ready, while others require TLC before they’re ready to be a home. Foreclosures are available at every level of quality and price. If you’re on the market for a new home, here’s why you should consider buying a foreclosure.

Repairs and closing costs can be included.

You are dealing with a highly motivated seller.  You can negotiate closing costs, which are usually the buyer’s burden. If they’re looking to sell quickly, and you make a solid offer, you can ask the seller to take care of those final closing costs.

Rehabilitation loan options.

Securing a loan on homes that needs significant repairs can be tricky. But, buying a fixer-upper means you likely qualify for a FHA 203(k) Rehabilitation Loan, which is a long-term loan that covers both the home purchase and renovations, if the residence requires at least $5,000 in improvements.

Make money on the sale.

Many rehabbers buy foreclosed houses, transform them into beautiful homes, and then reap the benefits of the low purchase price when it’s time to sell. Remember our first point: When your investment starts out low, it puts you, the new owner, in a great position to sell this home for a profit — unless you fall in love and never want to leave.

Foreclosures are a fantastic investment opportunity for buyers willing to do the research, offer buyers the chance to buy and customize their home on a dime