You can't buy this property directly from the banks. You have to see it through a Realtor; then make an offer. if it is acceptable to the Seller, the banks will be notified. Usually it takes at least 3 months to get to settlement because the banks have to negotiate with each other to accept less than they are owed. The debt is greater than the asking price. Once the banks have come to an agreement, the buyer must settle within 2 weeks.