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How long it takes really depends on several things. What bank you are working with and how experienced the listing agent is. Bank of America is moving quickly in the process as they have streamlined things. The last one I have worked on got an approval within a few weeks after all negotiating was completed on price. I suggest you work with an experienced buyers agent as they will know what questions to ask the listing agent. Good luck. Foreclosures are a bit quicker as you are only dealing with a bank. There are alot of both out there so they are not hard to find.
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For Sale: $10,000
For Sale: $248,500