Buying Foreclosures

If anyone wonders what is wrong with the housing market or why that foreclosure on the block won't go away, just ask someone who is trying to buy one. You'll almost certainly hear about appraisal management companies and scared or completely inept appraisers, lenders who couldn't find their ass with a road map, and heaps of FHA/HUD paperwork. The only bright spot on this scene is our realtor, while just as frustrated as we are at the craziness that it take to buy a vacant house that's not in perfect shape, knew what we were in for and told us what to expect. The advice that I can give someone out there who wants to buy a property that isn't perfect is this: get a realtor who has worked in investment property for a while, expect rotten hang-ups with the deal from "da gubment" or their local sub-par lackeys, and be prepared for a long wait.