The way most people buy foreclosures are as REOs or Real Estate Owned, once the bank buys the loan back at auction....
So when you see a posting like this it is somewhere in the process, but could be a day a week or months or years before they come on the market.
Also the prices are usually much different than you see posted here. A good number is usually about double what you see on Realty Trac postings.
If you want to see homes currently for sale including REOs, Bank Owned, and regular sales too you can check out this link for Bedford..
Great question and I wish it was a cut and dry case. However, alot really depends on the corporation assigned to this property at the moment. It could be days, weeks or months before this property actually goes live. Feel free to contact me directly in order to be the first individual to see this property. Recently I was able to place in an offer on an estate prior to it even going active online. This gave myself and my clients a tremendous advantage considering there was no other competition. Thank you.
Keller Williams Realty
Real Estate Consultant 3xUS Army Veteran
Foreclosure process is not easy very time consuming. As a listing agent worked with foreclosures representing the banks you can have 10 offers all the required documents and have wait maybe 6 months before lender would accept a sales contract.
OR I have been a buyer agent with cash offers we closed in less than 15 days.
Contact my office today where I can show you many amazing homes work with your family specifications.
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
Follow me on Facebook http://www.facebook.com/lynn911dallas
Scott and Joe both gave good answers. If you are interested in buying an REO home, which is short for Real Estate Owned. The process is often quite similar to a standard purchase. You submit an offer that is reviewed, usually there is an inspection period and you generally close in a similar time frame. I hope this helps, if you have further more specific questions please feel free to contact me directly.
Keller Williams Realty
Long story short you pay with CASH. You buy without being able to look at or inspect the home. You buy and you may have to evict the current residents.
You would need to monitor the foreclosure filings at the Tarrant County Courthouse to determine when it's going to go to auction. Often times it's delayed months or years before going to auction, even though the foreclosure notice has been filed.
This information is only the tip of the iceberg..
Joe Stone - Realtor®