Home Buying in Dallas>Question Details

Tammy Holland, Real Estate Pro in 75169

How long does it take for the bank to list a house after it has foreclosed?

Asked by Tammy Holland, 75169 Tue Sep 11, 2012

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Joe Stone - Realtor (R)’s answer
Wysassy,

Sorry about the deal falling through. I know it's hard, but always tell my clients to try not to fall in love with a house and get emotionally attached until they are sitting at the closing table. When it comes to foreclosures, REO and Short Sales, multiply that advice by a million times.. Good luck, I'm sure here's another dream house out there waiting on you right now.

Joe Stone - REALTOR®
Exclusive Homes Realty
http://www.exclusivehomes-tx.com/
682-777-0836

Please LIKE and follow me on Facebook
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0 votes Thank Flag Link Wed Sep 12, 2012
This house hasnt been listed yet. We were going to buy it and found it was in foreclosure and they needed the cash the next day or it was going to the courthouse auction on tues. Monday was labor day. So.........my dream house is sitting in limbo waiting for the bank, or asset management company to decide what they want to do. This house was not in disrepair. I had it inspected and it had very few things that needed to be address. Of course, I dont know how the foreclosed on owners left it after our sale fell through.
0 votes Thank Flag Link Tue Sep 11, 2012
There is a huge shadow inventory of bank owned properties, so the specific home that you're interested in could take months or even years before being available to purchase. Feel free to Google "REO shadow inventory" if you want to confirm what I say.

I specialize in foreclosures, REO and HUD properties. Almost all require an agent to submit your offers, so it's best to contact a Realtor and let him/her get started trying to find what you want. Otherwise you could find that you're just wasting your time.

Give me a call at your earliest convenience so that we can start formulating a game plan specifically tailored for you and your goals. I'm not doing my job if I don't exceed your expectations!

I hope to hear from you soon.

Joe Stone - REALTOR®
Exclusive Homes Realty
http://www.exclusivehomes-tx.com/
682-777-0836

Please LIKE and follow me on Facebook
http://www.facebook.com/ExclusiveHomesRealty
0 votes Thank Flag Link Tue Sep 11, 2012
Hi Wysassy,

There is no correct answer to this question. It just depends.

I seen sometimes as early as 30 days or up to a year.

Do you see a particular home foreclsoured that you want to buy?

Dixon
Realtor
JP and Associate
http://www.findyourtexashome.com
0 votes Thank Flag Link Tue Sep 11, 2012
A day or forever. There's no real answer. It depends on the bank. Also, many REO (that's industry slang for "bank owned") homes never get listed. Instead, they are sold via asset managers at the bank.
0 votes Thank Flag Link Tue Sep 11, 2012
It depends. If the home is damaged or in need of cleanup and repairs. If so, A bank could take anywhere from a month to three months before listing the home for auction. If that is not the case it
could be 20 days from the time that the home is foreclosed on.

Sincerely,

Maria Cipollone
http://www.Flahomespecialist.com
0 votes Thank Flag Link Tue Sep 11, 2012
It can take a long time, it depends on the bank and which Realtor they list it with for sale.

Good luck.

Kenny
0 votes Thank Flag Link Tue Sep 11, 2012
Frequently it takes between 4-8 months, though there's no way to know. Often times there are outstanding liens that need to be cleared up first, and occasionally if the bank feels as if there are too many foreclosures in an area already on the market they will hold it and try to wait till there's less competition.
0 votes Thank Flag Link Tue Sep 11, 2012
Not all properties ever reach retail market. Best not to wait it can be weeks, months, years.

Contact my office today where I can show you many amazing homes work with your family specifications.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
News Personality On Air Radio Show
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

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http://www.facebook.com/lynn911dallas
0 votes Thank Flag Link Tue Sep 11, 2012
Sometimes just a couple of weeks...sometimes a couple of years or more.
We just never know.

If you have a particular house in mind, I perhaps can set up a search for you and see if I can determine who the contacts are.

http://www.metroplexhomesalesinfo.com/community/area/Dallas/
0 votes Thank Flag Link Tue Sep 11, 2012
That would be so wonderful. Theproblem I have had is I dont know who to approach and who to watch for it to list. I understand that its practically impossible to buy from the bank, or whoever has it until they list it. I just dont want to wait a long time then, not get it because they are holding out for the best price. I have read some of your replies on here and gained a lot of insight. We had it down to the day before closing and found it was foreclosed. Of course, this was not disclosed by sellers. Could not get cash together by the first tues of month, which was 4 days later, to buy it from courthouse steps.
The address is 12101 CR 2149, KEMP, TEXAS 75143. My name is Tammy Holland. My cell is 214-251-5794. I would appreciate any and all help I could get with this. We are paying cash. Offered $390,00.00 to bank. They wanted to rush closing and do a partial title search, we said no way! We had already discovered about 4 or 5 things that the sellers had lied about.
Flag Tue Sep 11, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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