Novi Foreclosures
Bidding on Novi foreclosures is a little different than buying a normal Novi home. When buying a foreclosed home in Novi the main difference is that bank absolves themselves of any responsibility for what has happen to the Novi home in the past. When you buy a Novi foreclosure you will usually sign a bank addendum that signs away your rights to sue the bank. It will become your home with all it's unknown problems. You cannot text or call the previous owner to figure out what the light switches turn on or what is the trick for.... You have no clue of the past history of the home. You need to have a good home inspector to find out what the true condition of the home is.
The bank has no knowledge of what the previous owners did to the home or how the previous owner took care of the house. So they are no going to take any legal liability on any foreclosures in Novi Michigan. Or any other city for that matter. So don't be surprised when your realtor brings you a 10 - 15 page addendum to the purchase contract. The addendum will release the bank from legal liability.
If you do not sign the addendum you don't get to buy that Novi foreclosure. So bottom line is that you need to have a good home inspection. You need to be able to be comfortable with not knowing that past history.
of that Novi home. 
Unless it becomes a buyer's market.... foreclosures in a seller's market are not usually a deal. When a bank puts a home on the market they get a market analysis of the home and the homes price. The bank is like every other seller....they want top dollar for the house. They want to recoup all the money they can. So they usually do not discount the home or the home's prices. So if you are buying a foreclosure in a seller's market don't expect to get a deal. I hope this explains what you can expect when looking at Novi foreclosures.
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