Buying a bank-owned foreclosure is much different than buying a short sale in San Diego. Where short sales can take several months even to get an answer from the bank, the time is much less for foreclosures. In fact, you can typically close in 30-45 days when buying a San Diego REO property.

However, you should be warned that banks typically take longer to respond to offers and other requests than a traditional seller does, so it might take a week or so to get an answer after you submit an offer to buy a foreclosure.

Read Also: Four Things You Must Know Before Buying San Diego Foreclosures

Read Also: FAQ: How long do short sales take?

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Justin Gramm is the founder and principal broker of Globella Buyers Realty, your San Diego Exclusive Buyer Brokerage. He also writes this blog, "For San Diego Home Buyers."

Exclusive Buyer Agents do not list homes for sale and never represent sellers. They have no "inventory" to try to sell you. They can represent you in purchasing any home. They are specialists at representing buyers only on the buyers' side of the transaction. Exclusive Buyer Agents work to get buyers the best price and terms when they buy a home.

If you have excellent credit and plan to buy a home or condo in San Diego County within 90 days, contact Justin Gramm to hire an agent on your side of the transaction. Call Justin at (858) 437-2662 or  E-mail.