We continue our month long series of Housing Hope with an inside look at buying a foreclosed home. Some say it's a better deal on price, but others say you could end up paying the difference in the end.

Buying a foreclosed home was Penni Pepps best option.

"It turned out to be a good property. We don't have to do a lot to it, mainly cosmetic works and what we decide to do." said Future Owner Penni Pepps.

But that's not always the case.

"Some are in good condition and move in ready but normally there is some work that needs to be done." said D'Lynn Lane of First National Bank.

Studies show owners being forced out of homes have been known to leave the place a mess or even destroy property. Making clean up and repairs at times a huge expense some buyers aren't ready for.

"You're getting the property as is they're not going to come in and do repairs . They're may be repairs to be done but it's up to you to take care of it." said Lane.

 "If you're going to look at a foreclosed home you need to make sure you have all of the closing cost up front and the money you need to fix up the house and make sure you have all that up front before you eve make an offer on it." said Pepps.

Another piece of advice,always invest in a home inspection.

"You can go in and see the surface, carpeting, counter tops, paint but you're not going to normally know about the electrical, plumbing heating and air."  said Lane.

Lane also says inspections start around $300 depending on the size of the home, but the cost will pay for itself and let you know how much you need to save for repairs!

And always purchase a home warranty so you're protected *after* you move in!!