Real Estate Law
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You do not need to go through a real estate agent. You should look at the value of the houses today not what they were 5 years ago. A lot of times you can get a little better deal with a bank-owned home. Especially if they don't have to put any money into it. The closing costs if purchasing from a bank are the same as if from a person. The fact that the bank is the seller does not change the transaction at all. You will still get a mortgage from another bank to pay for the house (unless you are paying cash). Homeowner has no redemption rights after a foreclosure.
Any further questions?
Sorry, I misspoke. In Missouri, there is a homeowner right to redemption. The homeowner must make this election with 10 days of the foreclosure however.