can i buy a home that went to auction ,but no one bid on it and it went back to the bank ?
The bank, as owner, can do what they want. They have a department that deals with their REOs (Real Estate Owned). When they finally decide when to market it, you can buy it. It won’t be easy to track when that might happen. As an individual, there is almost no chance you can even find out who to contact at the bank who is handling the property.
In some 9 out of 10 such instances the beneficiary (lender) will require that, post trustee sale, you work directly with their REO agent assigned to the region wherein the property is located. And, as Miketh points out (above) it is not always easy to find that agent/office. Could be weeks or months … or longer… before the bank secures the property and opts to put it back on the market. When they do so, it will be based on a broker’s price opinion (BPO) and likely close to full retail value. But that said, if you really like the property, it is worth making a few calls to the trustee/lender and explain that you missed out on the trustee sale, and ask whether they’d take $“X” (< your price) now for a quick sale outside of the lender’s REO group. If it is a small lender or private party, they *may* be less married to bureaucratic processes and *may* be willing to deal directly with you. If you are an “as is” cash buyer, that would be in your favor. But, again, this scenario is the exception … most likely you’ll be referred to the REO group and ‘hurry up and wait.’