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House Foreclosures refer to the defaulted loan and tax properties being taken over by the lenders or tax authorities and being put on sale in auction for recovery of their debt. This has made possible for most prospective first time buyers and many investors of real estate to purchase these expensive properties at cheap prices.

Real Estate has been one of the most prominent areas of investing and with House Foreclosures on the rise the investment is possible at almost half the price. House Foreclosures are however a serious concern for the homeowners as the homeowner are not only deprived of their space but also blacklisted and can not avail financial assistance from any financial institution for years to come. This impacts the overall life of the homeowner and various financial constraints can further arise for him leading to a miserable life. These House Foreclosures on the other hand are a boon for buyers as they are able to avail property at cheaper rates than the prevalent market rates.

House Foreclosures can result from conditions arising out of divorce, bankruptcy, financial crisis or interest rate hikes. The numerous forms of foreclosures include:

1. Bank or Reo Foreclosures
2. Foreclosures By State
3. Government Tax Foreclosures
4. FHA House Foreclosures
5. HUD Foreclosures
6. IRS Foreclosures
7. FDIC Foreclosures
8. Treasury Foreclosures

Several Options are available in the market for House Foreclosures but the best option can be worked upon the financial and locality decision of the buyer.

House Foreclosures are the best way of investing but it involves risk like other forms of investing and decision to purchase should be made after ascertaining certain facts which can be done easily. The Buyer should check the prevalent market property price in the area where he is planning to purchase the foreclosed property. Checking out from neighborhood and local authorities can help in estimating the actual price. The Buyers should check for the condition of the property whether it requires some repair work or renovation which could be requested to the seller for saving costs. The Buyers should also check for other liens or liabilities on the property which could be transferred to the fresh buyer.

House Foreclosure can be purchased with any of the following which include:

1. House Foreclosure Auction sale: In this type of sale, the seller auctions the property and the highest bidder is awarded with the property.

2. Pre-Foreclosure Sale by Homeowners: In This case the homeowners sell the property at really cheap rates to pay off their loan and save some amount for themselves.

3. Buying a Repossessed House: In this type of sale, the buyers contact banks and financial institutions for sale of repossessed homes which are sold by the banks to recover their loans.

House Foreclosures are one of the safest means of investing in real estate as the price difference is 20 to 30 % in normal cases where the foreclosed property is sold at a cheaper rate than the market price.

Many Websites feature listings on several House Foreclosures and the best option can be checked by short listing the property on the basis of locality, price and condition which shall help strike the best deal.