After Foreclosure - then what?

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As you know, people in foreclosure often wait till the last minute to give you an opportunity to help them.

I've come accross several deals that I needed more time then the impending auction date allowed, for me to do my due dilligence.

If it appeared to be a good deal, if the circumstances, numbers, property condition added up - before foreclosure, wouldn't it be such after the foreclosure? ie after title search, ownder's legal history, and any other due dilligence can be completed? In Alabama there is a 1 year "rite of redemption", couldn't I secure the owners rite of redemption, and redeem the property - shortly after foreclosure?

Here are two examples that illustrate my question. Home 1 owner owes 94k. Comparables in the area were going for between 117k-125k. Owner said needs some some minimal sheetrock work, paint, and carpet. The bank had already put a lockbox on the door, and the utilities were all off when I arrived to view the house. Auction was next day. I couldnt verify house condition inside. I couldn't get title & legal search done before then. How should I have handled the situation?

Home2: has 5 acres, owes 140k, appraises for approx 160k. House was newly refurbished. The lady thought foreclosure had been postponed, but it had actually, gone through. Now it's the banks. They list it with realtor. Can one secure the owners rite of redemption, and advertise the house for sale? If it sells, excercise rite of redemption? In this way there is no investment till it sells, and all transactions happen at once. This is assuming the house can bring a nice spread between what the realtor is asking and what I can ask due to rite of redemption.