Zillow Advice: Home Buying - How long can a home that is in preforclosure be turned around and sold to a new buyer http://www.zillow.com/advice-thread/How-long-can-a-home-that-is-in-preforclosure-be-turned-around-and-sold-to-a-new-buyer/511006/ Zillow Advice | Zillow Real Estate Agree with David. You could ... http://www.zillow.com/advice-thread/How-long-can-a-home-that-is-in-preforclosure-be-turned-around-and-sold-to-a-new-buyer/511006/ Agree with David. You could make an offer in the pre-foreclosure and hope to get it done before the sale if the Seller and Lien Holder agree to the terms. If you go to the auction you needs to provide certified funds for the amount plus $1.00 over starting bid. You will also need to do research to see what liens are on the property and understand the foreclosing lien position.<br/><br/>There are a number of REITS bidding things up at the Denver auction and it has been really hard to pick properties up. I have purchased numerous properties there. Good luck! Thu, 12 Sep 2013 16:04:00 GMT http://www.zillow.com/advice-thread/How-long-can-a-home-that-is-in-preforclosure-be-turned-around-and-sold-to-a-new-buyer/511006/ 2013-09-12T16:04:00Z That depends how you are ... http://www.zillow.com/advice-thread/How-long-can-a-home-that-is-in-preforclosure-be-turned-around-and-sold-to-a-new-buyer/511006/ That depends how you are trying to buy it. &nbsp;If you are a cash buyer, then you can go to the foreclosure auction at the courthouse steps, and try to buy the house by bidding on it directly at the foreclosure proceedings. &nbsp;<br/><br/>If you aren't in a position to bid on it that way, then you are at the mercy of whomever buys it at the foreclosure auction. &nbsp;In Denver, rumor has it that The Berkshire Hathaway Group (billionaire,Warren Buffet's company) is buying up a large portion of the foreclosures and turning them into rentals. &nbsp;So, if something like this happens, it might not ever hit the market. &nbsp;If something like that doesn't happen, and it goes back to the lien holding bank, then it could hit the market as a bank owned foreclosure in as little as a few weeks. &nbsp;Different banks work at different rates. &nbsp;Small banks will usually try to put it on the market very quickly, to free up their cash. &nbsp;Larger entitles like Fannie Mae, Freddie Mac, or HUD, aren't in nearly as big of a hurry to put it up for sale. &nbsp;In fact, Fannie Mae has started to actually fix up some of its bank owned homes, much like a private fix'n flipper would,,, so that they can sell it for top dollar, rather than selling it low in rough shape.<br/><br/>No way to really predict it, without knowing who will show up to bid on it at the courthouse auction. Thu, 12 Sep 2013 14:46:00 GMT http://www.zillow.com/advice-thread/How-long-can-a-home-that-is-in-preforclosure-be-turned-around-and-sold-to-a-new-buyer/511006/ 2013-09-12T14:46:00Z