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3 years ago
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How long does it take to purchase a foreclosure?

I see alot of foreclosures in my area would more info about the process
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3 years ago
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I closed a bank owned property in 10 days. Most banks are replying faster these days. BEWARE - no disclosures about the property will be available. Be prepared to give yourself enough time to conduct ALL your inspections. These properties are sold AS IS. A quick close will not be worth it if you find major hidden damage after you close. It is important to find an agent in your area that specialized in distressed properties. They will protect YOUR interests. I suggest checking out www.CDPE.com and find an agent in your area. I'm not in Kansas City but happy to help you locate a qualified agent to protect your interest in this purchase. 707.326.0405 Ellen Crusoe
Ellen Crusoe
Real Estate Professional
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3 years ago
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There's no set time. Each bank has its own set of rules. Typically, REO properties are approved quickly as compared to short sales, which can take months.
Jon Griffith
Real Estate Professional
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3 years ago
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I agree with Jon.
There is an excellent article by Tara-Nicholle Nelson, called "Tricks and Traps: Foreclosure Facts Buyers Need to Know."
I think any customer insterested in purchasing a Foreclosure should read this.
Robin Nations
Broker
Jackson County Real Estate
www.jacksoncountyrealestate.biz
Robin Nations
Real Estate Professional
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3 years ago
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It can take anywhere from 30-60 days on average. The bank has already taken posession of the home and determined what they will accept as an acceptable offer. Just remember they don't guarantee the condition of the property and will have you sign about 17 pages of disclosures telling you in 100 different ways that you cannot sue them for any reason.
Karen Butler
Real Estate Professional
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3 years ago
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Latifah- if you need help purchasing a foreclosure please call us. We specialize in purchase of foreclosed properties and can help you through the process.
Dan Thomson- remax premier 913-207-6443
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