buying a US bank foreclosure what to expect, response time etc.

[Mary Utermohlen]

buying a US bank foreclosure what to expect, response time etc. any advice, please.  They have owned it for two years, put it on the market seven months ago, they have not had any offers but mine.

[Terrell Garren]

My experience is that bank short sales and foreclosures are slow, shadowy and high drama.  I finally just gave up pursuing them due to the time+effort / return ratio.  It's easier to have a conversation with Kim Jong Un than the foreclosure processor at a bank.  If I need that kind of drama, I can ask my wife if something is amiss with her hair. 

Auction.com is a different, more structured and user friendly process.  If you notice, the auction.com representative awaits positive confirmation from the seller (bank) that the property is ready to be sold before accepting bids. As long as the minimum price is achieved, the drama and uncertainly are over by the time auction.com says 'SOLD'.  There is the outbid period; however, it is both time bound and transparent.  I like auction.com, just hate that many others do as well :-)