Once the bank forecloses on a property, they will have to vacate any current occupants. This can take 4-6 weeks. Then they will contact a REALTOR to finad out how mauch they can sell the home for and list it.
A few things to keep in mind when buying a foreclosure: Bank owned properties are generally sold "as-is" and in mosty cases will require some work, usually cosmetic. Also you will incure soem extra costs when buyinga forclosure. Closing costs are generally higher, and whne you do inspections you will usually have to pay to have the power and water turned on for a day to do your inspections.