How long is the process on a foreclosure property owned by the bank.?

Asked by Elalie Regis, North Miami Beach, FL Tue Oct 1, 2013

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6
Margaret Has…, Agent, Tampa, FL
Fri Oct 25, 2013
The process of foreclosure by a bank can take years in Florida. Once the bank has foreclosed, it now owns the property. They may or may not put it on the market for sale right away.
0 votes
Terry McCarl…, Agent, Cape Coral, FL
Thu Oct 3, 2013
Your question is not clear. Are you trying to purchase a bank owned home?
0 votes
Yanoska Diaz, Agent, Miami, FL
Wed Oct 2, 2013
Not understanding the question well. I see that everyone else has replied according to their interpretation...

If you are asking how long is the process of foreclosure, then you got the answer from Meg, BUT, a property that is in the process of being foreclosed is not owned by the Bank (technically).

If the Bank already foreclosed, the property is owned by the Bank, so you could also be asking how long will it take for the Bank to take possession, get rid of the occupants.

I can also guess you may be asking how long does it take to close/purchase a property that has been foreclosed...if you clarify, I can provide a better answer for you, I do specialize on foreclosed properties and pretty much familiar with the entire process.
0 votes
Nereida Figu…, Agent, Miami, FL
Wed Oct 2, 2013
You have rights in the process. Another tools too to save your home too.
0 votes
Meg Sahdala, Agent, Coral Gables, FL
Wed Oct 2, 2013
The entire process of foreclosing the property in Florida takes in average 438 days because everything goes through the court system which is really backed up. This is why you see lockboxes on the properties where AC is cut off, mold goes in, leaks are deteriorating the property and there is nothing you can do just wait. Then when the property finally gets put on the market it still might take 2-3 months until the buyer can close on it.
If you are currently looking for a property to purchase please contact me directly at meg@viviendarealtors.com for no hassle assistance. I have plenty of properties to offer immediately.
0 votes
Shaukatali K…, Agent, Katy, TX
Tue Oct 1, 2013
If you have a time frame to move in ... pls. forget this .
It takes anywhere between 3-6mths.

Banks do not have any sense of time.

Good luck.

Kadibhai (Kadi)
Better Homes & Gardens Gary Greene, Realtor Katy/Houston
Phone: 832-228-7978
Fax: 281-646 1841
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Web: http://www.har.com/kadi
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