Profile picture for user7633293

How long does it take for a home to go on the market after a forcloser?

We would like to buy this home but it's been on the forcloser list for 152 days so far.
  • July 05 2012 - US
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Answers (6)

Profile picture for Ofe Polack
There is no correct answer for your question.  It could be a few months it could be a few years.
  • July 06 2012
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Profile picture for Cindy Quinton

I am currently interested in one, and even though I am agent it is sheer frustration akin to banging your head against a wall. You may not be able to find out any information until a real estate agent puts a sign in the front yard.

Some banks, like Wells Fargo, are going in and refurbishing houses to livability before trying to sell them. That alone can take months.

  • July 06 2012
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Profile picture for user7633293
The house has been empty for over a year.  I saw it on Zillow.  I also went and saw the  forcloser papers on the front door.
  • July 06 2012
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Profile picture for katzdo
My question to you is what list or website are you seeing this on? There are several websites that list homes in foreclosure.  What this really means is that the owner is in default or behind on his payments and the bank has filed papers to foreclosure.  It doesn't mean that the bank already owns it.  You might be able to contact the homeowner to see if they are interested in selling. In many cases though, the owner can stay in there home for years (depending on what state you are in) before the bank actually takes possession of the property.
  • July 05 2012
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It also depends on what state the home is located as a house can be foreclosed on but the owner can have anywhere from zero to 9 months to redeem before the bank takes possession. Some banks have been withholding listings in areas where there is too much inventory in hopes that prices will improve. 
  • July 05 2012
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Profile picture for the_country_hick
It could be a day. It could be several years. Just because the bank forecloses on a house does not mean they are in a hurry to sell it. There is no simple answer to this question.
  • July 05 2012
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