BEST ANSWER
Sally:
It is not uncommon for months to pass between sheriff sale and the home hitting the market on the MLS. During that time the bank is ordering appraisals and broker price opinions, clearing liens on the property, waiting for the sheriffs deed and possibly making repairs to make the property more marketable.
I personally feel the process should be shortened. Alot of damage can occur to a vacant home. (broken water pipes, roof leaks, flooded basement, vandalism, rodent infestation, etc.) I have been in hundreds of foreclosure homes that have wet basements-some even have mold growing because there is no electric to run the sump pump. These homes left in this kind of condition are dragging down the property values because they are then sold at an even lower market value due to their condition.
Thu Jan 29 2009, 08:42