Lets don't call it what it was, let's call it what it is. Does a bank own it? OK, it's a bank owned property or an REO. Once you get the bank to agree on a price the only delay left is up to you and your options, like appraisal, survey and the time it takes the title company to make the new deed ready and do any title searches. 1-2 weeks is doable if you don't want appraisals and surveys.