HUD Listing Timeline?

**greenbuyer** · 01-15-2010, 01:51 PM

I am interested in a property that was recently sold (12-14-09) at foreclosure auction. According to the trustee the house was bought by Bank of America/HUD. Does anyone no how long it usually takes for banks to convey properties to HUD for listing?

**Robert Smith** · 01-15-2010, 09:09 PM

There is no set time frame as far as I know for them to convey a property. One reason why it could take a while is the amount of foreclosed inventory in your area. They only give so many foreclosures to reo agents at a time so if they are processing the max amount, it could be a while. In addition to this, it is a nationwide database that these homes must be added to. The more homes that go into the system, the longer it could take for them to process. I will say that the new system is supposedly going to make everything more streamline (REOTRANS), but that has yet to be seen as it has only been in affect a short time. More then likely the reason why Bank of America has the home again, is because either no one bid on the home, or no one met the minimum bid. You can request to talk to the asset manager for Bank of America and ask him about the home, or you can always get a real estate agent to work on your behalf and deal with the lender. Either way, you more then likely have a long wait ahead of you. My suggestion would be to find a similar home in short sale or already through the foreclosure process. Good luck
Robert Smith
Century 21 American Properties, Inc.
century21lejeune.com

**taxlienadvisor** · 01-19-2010, 07:26 PM

Hello, thanks for the post.

What were you planning on doing with the property you were interested in? .. also, what state do you live in? ... Is this the only property you were interested in for a particular reason?

If you can answer these questions I may be able to help you acquire a property for real cheap either through a foreclsoure auction or similar...

Good Luck