My dad has got a loan accepted for the foreclosure house. the house is in horrible condition. But i just wanted to no about how long will it take untill we can actually get the keys n start fixing it. We’ve been waiting about 4 months for them to call us. I really dont no what is going on, or what process this is, can someone please help me. Thank you
Related posts:
- How long take to a Foreclosure house goes to the auction?
- Is it possible to take over payments of a house in foreclosure then buy it after a few months?
- How do I buy a foreclosure house without going to school for 5 years to learn how to do it?
- Is it a good investment to buy a foreclosure house now?
- Is it a good idea to buy a foreclosure house?
4 Comments
correct spelling “know” 1 – 6 yrs.. please make sure he checks for BLACK MOLD……………which is SERIOUS……….for anyone who lives in that house………… makes people deathly ill.
The procedure can take up to a year in some jurisdictions that allow the former owner to come back with the cash as much as a year later, as long as they declare that they intend to do so. This wrinkle makes foreclosure so tedious where it is allowed, but it does encourage owners to take care of the home even if they are at risk of losing it.
Are you sure this isn’t a Short sale? Sounds more like the experience of short sales, not foreclosure sales.
If the house was already “foreclosed” on by the bank, which it sounds like it was, then it all depends on the bank and how long it takes to close escrow on the property.
If it is in foreclosure and this is a short sale it can take a while, the banks have a ton of these right now. Volume is heavy and you just have to wait. Call who ever you are working with and ask them! They should be able to give you an idea. Every one is different though and there is not really enough information here.