Profile picture for DiannaGregory

How long does a vacant home become a forcloser?

There is a home across the street from my father's house. And the lady couldn't pay her mortgage and left. The house has been vacant for around 2 to 3 months. It isn't for sale yet, all it has is a letter of vacant home. How long would it take until its on the market? It needs a lot of work and cleaning, but that's fine with me. Is there anyway I could fine the house information and buy it from them before they put the house on the market? Why I say that is because I want to try to buy it before they, if they do, fix it and put a higher price on it.
  • August 03 2012 - Rome
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Answers (4)

Profile picture for craigfial
It could be years.  If the bank has not yet foreclosed, the process can take quite a while.  If the bank has already foreclosed and owns title to the property, they will likely get it on the market in a few months.  In some cases the lender
  • August 03 2012
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There are many ways to buy this before it goes to the courthouse foreclosure if that has not happened yet.  Even if it has already been foreclosed on by the bank, then it could be a few months before they get a price if it is one of the big banks that is controlling it.  They sometimes can sit for 6 months to a year before a real estate company takes it over to sell.  Please contact me and I can assist you for free on the easy steps to find who owns the place now.  
  • August 03 2012
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Profile picture for StephenDGross
You might want to try virtual staging.  You might be able to sell your home fast enough to save the foreclosure process in time.
  • August 05 2012
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If is has been vacant for only 2-3 months the bank has maybe only started the foreclosure process. You will see a foreclosure notice attached to the house at some point near the door. This will have information on it about the bank putting it in foreclosure and when the auction date will be. Trying to buy this before the auction will be difficult to impossible and I don't give Ethan much chance to get around that. It could be months before the bank gets to the auction stage. There could be more than one lender, there could be tax liens or other liens and these all need to be dealt with and understood. the bank can not sell it to you today even if Ethan finds them, why? Simply because the bank does not own it! They have to buy it at the foreclosure auction to become the owner, then they can sell it to anyone they want. Once the bank owns it they will get an appraisal, check it out and deal with liens and all that. It could easily be a year before they can sell it.
  • August 05 2012
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