How long does it take for a bank to take ownership over a property that they win at a judicial auction?

Asked by hydeparkhousehunter, 60615 Wed Aug 29, 2012

I am interested in a property that was recently sold to the plaintiff (the bank) at a judicial auction. The auction took place at The Judicial Sales Corp. downtown Chicago. I am waiting for it to be listed as an REO, but wonder how long, on average, properties take to go from auction to REO.

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Chris Fischer, Agent, Homer Glen, IL
Tue Sep 24, 2013
Unfortunately, there is not an answer to this question that will help. There a tons of factors that can come into play including who owns the property (Which bank, lender, etc...), are there liens that they need to remove prior to listing, how busy they are, how big of a priority the property is..... and the list goes on. Your best bet is to keep looking out for it, or feel free to contact us, and I will let you know when the property becomes available on the market. If you'd like us to do so, I will need your contact information and the property address in question. Thanks!
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