I have realized that I have a number of prospects who always want to look at bank foreclosures.

I have realized that this means that they do not necessarily want a bank foreclosure – their perception is that a bank foreclosure is usually the best buy.

The bank does not have an emotional attachment to the property – they view it as an asset that they are trying to turn. 

Most people who sell their property often have an emotional attachment to the property and place great value on the memories created there.  I always try to point out that a buyer will not pay you $.01 for your memories or your good neighbors. 

I have also noticed that sellers will often price their property according to how much they owe or how much he needs.  Banks usually do not price property this way; they price it at the market price and if it does not sell, they adjust the price to a level that the property will sell.

An astute buyer needs to check not only the bank foreclosures, but other properties to figure out what is the best value.