Most foreclosure projects cost between $50,000 and $300,000 per job, with a typical price near $150,000. Prices vary by state and city, so the range below is a planning guide rather than a quote.
Typical foreclosure cost
$50,000 – $300,000
per job · typical $150,000
A general planning range, not a quotation.
Foreclosure cost breakdown
- Auction (cash only)$30,000 – $150,000typical $80,000
- Bank-owned (REO)$50,000 – $250,000typical $120,000
- Pre-foreclosure (short sale)$100,000 – $300,000typical $180,000
What Foreclosures costs
Prices vary by location and condition, with bank-owned or auction properties selling at a discount. However, foreclosures are often sold as-is, and buyers must cover repair costs. Financing can be trickier, and competition from investors is common.
Costs by state
- Alabama
- Alaska
- Alberta
- Arizona
- Arkansas
- British Columbia
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Manitoba
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Brunswick
- New Hampshire
- New Jersey
- New Mexico
- New York
- Newfoundland and Labrador
- North Carolina
- North Dakota
- Northwest Territories
- Nova Scotia
- Nunavut
- Ohio
- Oklahoma
- Ontario
- Oregon
- Pennsylvania
- Prince Edward Island
- Quebec
- Rhode Island
- Saskatchewan
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- Yukon
Frequently asked questions
How much can I save buying a foreclosure?
Typically 10-30% below market value, but you may pay more in repairs and closing costs. A $150,000 foreclosure might need $20,000 in fixes.
What drives foreclosure prices?
Condition, location, stage of foreclosure (auction vs. REO), and market demand. Properties in desirable areas may not be discounted much.
How can I get a good deal on a foreclosure?
Get pre-approved for financing, inspect thoroughly, budget for repairs, and be patient. Consider hiring an agent experienced in foreclosures and avoid overbidding at auctions.