The internet is full of useful sites giving plenty of great advice on the subject of purchasing a home.
In reading around the web, I found the following to be a very useful, and complete article, that covers the basics of what every home buyer should know.


http://www.realtor.com/home-finance/buyers-basics/home-buyers-basics.aspx?source=web

What is not as abundant on the web is specific advantages and dis-advantages of purchasing REO (real estate owned) properties, or foreclosures.  In