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Not everyone who loses their house to foreclosure leaves it a disaster. Foreclosure does not automatically mean a money pit. That is why you do inspections and do not purchase sight unseen. Just do your homework like with any other investment.
Some owners of foreclosures will allow inspections, contingencies, etc. Not all do and this is why many people should be extremely cautious and inform themselves prior to purchasing these types of properties if they buy them at all.