Closing costs on a foreclosure

[Cody Pulver]

Is it possible to buy a foreclosure, with a VA loan and not pay closing costs?

[Will Fraser]

Hi @Cody Pulver, welcome to the BiggerPockets forums!  

The answer to your question largely depends on what you mean by "buy a foreclosure."  If you mean buying a home at sheriffs sale, it is highly unlikely that you could do this, as most protocols around the country require this to be purchased in cash (or cash-equivalent like an Hard Money Loan), and most lenders wouldn't dare invest the time into underwriting it because until the foreclosed-upon-person's Right of Redemption has passed, it's not a safe assumption that the house is yours (or, um . . .. the lenders?)

However, if you are buying it from the bank, who has taken ownership of it again (usually through buying it at sheriff's sale), then the process is subject to normal offers (but warning, you'll be moving at REO speed, which is slower than most sales).