Last week we talked about the foreclosures on the market both in Northern Virginia and in Huntington-Belle Haven. Prudential-Carruthers real estate agent Terri Brevig has a list for buyers interested in purchasing foreclosed homes. As a real estate agent, however, Brevig made clear she cannot provide legal counsel and interested buyers should contact a real esate lawyer before buying a foreclosed home:

• The listing may not show who the actual owner is, and you may not be able to rely on the tax records for accurate information.
• The bank will most likely require you to sign their addendum in addition to the standard contract. Such addendum is most likely written in their best interest.
• Although the buyer has the right to select their own title company, many bank addendums will state that you are required to use their title company.
• Many banks will require that you be pre-qualified by them, even if you already have a pre-approval letter from another lender.
• Banks are not required to provide disclosure as to the property's condition as a regular seller would.