Foreclosures are a very large part of todays real estate market. Buyers of foreclosure homes are enjoying great deals. However, some unfortunate, uninformed buyers fail to do the proper due dilligence and are getting caught up in some of the pitfalls that sometimes come along with the purchase of a foreclosure home. Here are three common issues to be aware of if you're considering a foreclosure purchase.

1. Delinquent taxes or leans. When a homeowner gets behind on payments, odds are good that the property taxes are also delinquent. Make sure that any unpaid taxes or leins are either paid or negotiated in your contract before signing, or be sure your covered by contingencies.

2. Normally foreclosures are sold with no disclosure. Reapir issues can be a huge problem. Many issues with a home such as electrical and plumbing are not apparent in a visual inspection. Be sure to inspect the home thoroughly or hire a professional inspector.

3. Unpaid utility bills. This is sometimes a big expense. If the utilities are not on, it may be because a huge bill is unpaid and the new owner (You) could get stuck with paying the bill before the utility company will turn on service.

The foreclosure market offers great opportunity. However if you are not experienced or working with an agent, or someone who is experienced, you should be aware of all the possible catches and be thorough in your due dilligence.