Buying a foreclosed home in Massachusetts is a complex process that differs significantly from a traditional home purchase. The state is primarily a jurisdiction, meaning lenders can often foreclose without a court case, though they must strictly comply with the law to ensure the title remains valid. Key Stages of Buying a Foreclosure

If no one buys the property at auction, the bank takes it back into its portfolio and lists it on the open market as an REO property. Critical Steps for Buyers Massachusetts law about mortgage foreclosure - Mass.gov

If the owner cannot pay what is owed, the property is sold at a public auction by a licensed auctioneer.

You can make an offer directly to the homeowner before the bank takes full control. This often involves negotiating with someone facing financial distress.