Buying a foreclosed home from a bank have its positives and its downfalls. Even though foreclosed homes are not as prevalent as they were following the real estate market crash of 2008, there are still deals out there. When a foreclosed home is sold by the bank or lender, it is called an “REO” or real estate owned property and typically is offered at a favorable price. But is buying a foreclosed home from a bank a bad idea? For sure, there are issues that you will have to take into account or you could end up paying much more in repairs after the purchase. A sellers disclosure is typically…