In this case, the homeowner did not make mortgage payments are required by their loan, so the bank has given a "Notice of Default". This the first step of the foreclosure process that allows the bank to take ownership of the property. Here's a summary of the overall process:
If a homeowner actually wants to sell their property, they will put it on the market.
Good luck - hope this helps.
I get so very frustrated with Realtytrac. It is not a source of available listings yet Trulia links to it as such. Properties show up on here when there is some kind of default registered like the owner being behind on his/her mortgage payments. In fact that property likely won't ever go to foreclosure, but if it does it could be 6 - 18 months from the date of the default.
You can search real foreclosures and short sale on our website at http://www.fortmeadeareahomes.com.
This home is not listed yet because it is in pre-foreclosure, which really means nothing since the buyer may have just missed a couple of payments. Realtytrac, the website where you see the property, uses data to get customers to sign up for their services. Realtors are the only source for real-time active listings. I actually specialize in foreclosures and short sales, so if you would like my help, just let me know.