You want to buy a foreclosure? Remember, there are both great opportunities and great pressures and pitfalls in this market. First, you have to decide at what stage of foreclosure you want to buy. There are three options: 1. pre-foreclosure; 2. sheriff’s auction; 3. repossession, called REO (for real estate owned by the bank). The safest and best way to buy is when it’s a bank-owned property. At www.yorbalindaliving.com you have access to all of the Pre Foreclosure, Bank owned and Auction properties in your search area.