I woke up at 5 a.m. this morning. I do have a three-year-old, but that has nothing to do with it this time. I just woke up in the dark, padded downstairs, and grabbed my trusty laptop to connect with the early morning world.

In doing so, I stumbled upon this article by Luke Mullins of U.S. News titled "The Top 6 Mistakes of Forclosed-Home Buying."

I found it particularly interesting, given that I am beginning to see forclosures in my vacation home are of Truckee/North Lake Tahoe. And while my I get wooed with the price tag of that home in a fantastic area near the ski hill, I do forget that there are alot of legalities involved with buying forclosure properties. The bank is not always as willing to make a screaming deal as one might think, and they are so inundated these days that they don't get back to you in a timely manner either.

Not to mention there are specific forms that forclosure offers need to be drafted on as well as a host of other things that might not be straight forward to the eager home buyer or their eager real estate agent.

Give it a read, be careful, and good luck with those deals.