It's been on the market now as bank owned for 49 days with no change in the list price from $322,240. If you have interest in seeing this home, let me know. I'm sure the bank is willing to negotiate at this point.... more
You would have to wait at least 4 months from the date of the notice of default for it to become bank owned. Then it may be days or weeks before it is listed where you could actually see the house's condition after the seller vacated and make an offer.
It is available for sale right now if you are interested. Waiting for a house to foreclose doesn't always mean you will get a better deal.