Simply, there is a lag between when a home becomes an REO and it is ultimately listed for sale. There really is no exact timeline for this period, because many factors are involved. Some bank may want to control the amount of inventory they have on the market at any given time, and as previously mentioned, sometimes evictions or other matters need to be resolved before the property becomes marlketable. If you want a home that is an REO and not currently listed. Your best bet is to check the foreclosure filing for who the bank is, contact that banks REO department, find out who administers the marketing of the REO(could be a servicer), then from that entity see which agents/brokers typically list the home. You can then contact them each and let them know to notify you when they get the assignment and that you are interested. Many REO agents will line up buyers and show the homes before they are officially for sale. If you know which attorney handles the REOs for that bank, that could also be good. Hope that helps..