what is the difference between the sold date & the foreclosed date?

Asked by Starlene Eastwood, Hayward, CA Fri Dec 12, 2008

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The Medford…, Agent, Fremont, CA
Fri Dec 12, 2008
Starlene:

The words "Sold Date" mean the day escrow closes, and refers to any type of sale. "Foreclosed Date" is the day the bank takes possession of the property, which again is at the close of escrow. Since banks pay cash, the escrow periods are typically very short for foreclosures.

Let me know if you have other questions regarding the foreclosure process - we can explain the process from beginning to end as it applies in California and the Bay Area. It can be quite different in other states across the country.
Web Reference:  http://www.carlmedford.com
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Bill Eckler, Agent, Venice, FL
Fri Dec 12, 2008
Sold date is the date of the closing ....when the buyer takes ownership

Forclosed date is the date when the bank takes ownership of the property
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