It varies quite a bit. I have seen the bank put it on the market within a week of foreclosure and I have seen the banks take their time. Now with banks used to doing many foreclosures theyâ€™re moving pretty quickly.
If you need help finding a new home visit our web site http://www.eHomeConnect.net.
Mike Lewis eHomeConnect Agent
There are listing agents that specialize in LISTING foreclosures. They represent BANKS not consumers. If you are a buyer, you would be served best by an agent that will show you homes that are for sale by banks and by Motivated Sellers. - An agent that has experience and skill negotiating BOTH types of sellers.
Most foreclosures are in WORSE condition and have HIGHER list prices than equivalent motivated owner homes. This is why you should want to compare regular listings with Bank REO's. If you look only at Bank homes, you are likely to overpay.
It has been my experience that it is usually two months or more before it is in the Multiple Listing Service (MLS). If you are interested in buying a bank REO, get your Realtor to look for the ones that have been listed the longest in the MLS. There is a custom search that they can do to find them. The longer the property has been listed, usually means the more motivated the seller is (this includes lenders and banks). It is very important that you use your own agent, since the listing agent, represents the seller. I do free classes on finding and buying these kinds of homes and you are welcome to attend. See my site front page for the details.. http://.www.fredeckertgroup.com