Feel free to call me at 949-297-1207 if you would like help with this, or click on my picture to respond on line.
The foreclosure process can take 90 days or long depending on the lender. Once the process is done the home goes up for auction at a trustee sale.
If no one buys the home at the auction the property then goes back to the bank. The bank then will have their asset manager assign the listing to one of their realtors to market for sale.
If the property is tenant occupied then tenant has to be removed from the property as well. This process takes time as well
If you are interested in buying a Bank Owned home the best thing to do would be to get yourself a buyer's agent to search for homes for you that are already on the market. Waiting on a particular home to hit the market as an REO may not be the best way to go.
Much Success to You in Your home search.
Kawain Payne, Realtor