Help with a foreclosure

[Jamie Gruber]

I'm a newbie looking for my first buy and hold property. We noticed a home in our neighborhood that looked abandoned. We've learned that it was foreclosed on for $180,000. The value of that home would be in the neighborhood of $300,000 on the market. The house isn't listed currently so I want to learn how to go after this property. Will the bank go to auction or can I get with the bank to make an offer? If foreclosed for $180k but worth more, I'd assume the bank will try to get closer to market value? The foreclosure was in September. Any advice on navigating the foreclosure waters would be great. This is in Massachusetts by the way. Suburban Boston.