Frequently we receive phone calls from homeowners who’s properties have been lost to foreclosure and their homes have sold back to the bank at the auction. Wells Fargo’s REO Department is no different and while there isn’t an exact time frame on how long it will take for the property to hit the market. Different lenders, furthermore different investors, have different rules/procedures and many times this can be anything from being a week after the sale to being months later. The most interesting thing is once they hit the market the foreclosed home has to be listed for a period of time before they accept any offers. Read below the Email that we received from the REO Department at Wells Fargo in regards to our inquiries.
Thank you for your inquiry,
Premiere Asset Services has received and reviewed your request. Please be advised that this property is not currently available. All offers must be submitted through the assigned listing agent. Premiere Asset Services will not review any offers prior to the property being marketed for at least five business days, plus a weekend. Once this property becomes available, you will be able to view it and the assigned listing agent’s information on our website: [Removed – Details Available]
Premiere Asset Services