Agents who list foreclosed REO properties know that an empty house attracts vandalism, even if the home has nothing left to take. One of the most frightening aspects of the foreclosure listing is your first visit to the property. Do not go alone! Call the police if there is evidence the property is occupied or vandalized. Talk to neighbors, ask if they see people going in and out.
Even if the home looks empty, check all around the exterior before going in. Raccoons and skunks love an open crawlspace, I have seen them running out when I stomped my foot inside the house.
When listing a distressed bank owned REO, a copy of a "Hold Harmless agreement" is sent by me to agent and buyers, signed and returned prior to showing. You can clearly see why! Keep eyes and ears open for soft spots in the floors and watch for tripping hazards.
There can be great opportunity to rehab and resell or live in a home like this, if home is listed with care, and priced to sell.