Foreclosure University Forum

How quickly will auction occur after locks just changed?

by spizzi, Tuesday, April 26, 2011, 00:57 (2523 days ago)
edited by spizzi, Sunday, May 29, 2011, 20:59

Hi all,

My neighbor's abandoned home (abandoned for almost 2 years) is only now having the locks changed and property winterized by the bank. How quickly will it take now for this property to go to auction> Hopefully soon> It has become an eyesore.


How quickly will auction occur after locks just changed?

by foreclosureuniversity ⌂ @, Wednesday, July 17, 2013, 20:37 (1710 days ago) @ spizzi

Unfortunately this is happening all across the country. Because of all the inventory, banks are having a hard time keeping up with all the foreclosures. Typically though, if the locks are being changed, it usually means the home had gone through foreclosure and now the bank owns it. They will now change the locks and list it with the REO listing agent they have a relationship with. How long before it sells is a question of the market, price, condition and neighborhood.

On a side note, an eyesore may be a great opportunity to the right person. Make a low ball offer and flip it to a rehabber / landlord who will come in a fix the place. MIght be a great opportunity for you.

Good Luck

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