Unless this was an in house loan, the entity doing the foreclosure may have just been the servicer on the loan, not the owner of the mortgage. Lack of understanding of the real estate investor, and owner of the acutal loan, ie. Freddie Mac, Fannie Mae, HUD, etc. means that these post foreclosure homes do not go on the market immediately after the foreclosure is completed. The occupancy, trash out, title issues, marketing strategy and plan, all take time and have different entities involved in the process, many of which are mandated by both federal and state law. Tax liens, bankruptcy actions filed immediately prior to a scheduled foreclosure may reverse or delay the home coming on the market. There are rights by the former owners that have to be honored and now rights by tenant occupied properties coupled with other institutional and government regulations that will delay and home being available for sale. There are enough good values on the market avialable for purchase immediately to have to wait weeks, months or even years to buy.

Who currently owns the house after the foreclosure? The lenders attorney, the public records and court house filings will answer who, what they paid, and the date of the transactions, varing by state law , as foreclosures are very transparent to all parties involved..

Because of low inventory in many areas right now, it can be a frustrating market for a buyer, so you are not alone in your situation.

I can tell you if the home was sold at the auction to a 3rd party, back to the beneficiary, postponed, or cancelled if you tell me the address. If it becomes REO, I have a few ways to get offers in before others, however, many banks won't consider offers until the home has been priced and they also sometimes have a minimum number of days on the market before offers are reviewed.

Also, if you are an FHA buyer, you may find some properties do not meet the 90 day rule for ownership and so your offer would not be accepted.

See blog posts referenced below - should be helpful.

Confused,
I understand the frustration and confusion; this is a tough market for buyers and sellers. But there are strategies to help position your offer on a home as the obvious one to pick. Also based on the information that you have, we can pursue a strategy now give me a call and let’s pursue this with clearity!
Peter Whittet
Oceanview Realty
760 390 2393 http://www.sandiegobarginhouses.com

That is hard to do. If no one bought it at auction then the bank has it. They can hold it as long as they like. They will usually list it through an agent. Good luck with your search