What is a real estate pre listing? We are looking to purchase a
property that has been through bankruptcy and sold back to the bank at
a sheriffs auction. The bank told us they are going through a realtor.
We contacted the realtor, but they said its still in pre listing. Its
been in pre listing for quite some time. What is happening during a
pre listing.

Hi airlineamy!!


In this case the "pre listing" refers to a set of evaluations made at
the property and the resulting actions the seller decide to take
before selling it.
For example the realtor (or a cualified inspector contracted by him)
inspects the property and makes an evaluation of it, some repairs are
needed and evaluate the convenience of make them or not. With this the
realtor knows what he is going to sell.
This is commonly know as "pre listing appraisal" or "pre listing inspections".
Read this text for example:
"One way to make your home appeal to all buyers is to arrange for a pre-listing
inspection of your home prior to putting your home on the market. A pre-listing
inspection helps sellers discover potential issues in their home that
they might want to address before sale. Since the buyer will use his
or her inspection to gain information on issues that could justify
renegotiation or even abandonment of the purchase, it?s important for
you to know your home?s condition -- even if you don?t plan to do work
on the property. A pre-listing inspection also creates a positive
marketing tool that you or your agent can use to promote your home.
Each WIN pre-listing inspection includes marketing materials alerting
potential buyers that your home has been pre-inspected and describes
its condition."
From "A Pre-listing Inspection Prepares Your Home for Potential Buyers":
http://www.wini.com/guide/agent/tools/customize.aspx?Tool=8&Mode=Preview


See also: 
"Pre-listing inspections:
When you sell your home you will be required to make disclosures about
its condition to prospective buyers, especially if your home may
contain lead paint (common in pre-1978 construction) or other
hazardous materials. Many sellers choose to order a pre-listing
inspection and make it available to a buyer in order to speed up a
transaction and offer the buyer as much information as possible about
the property so they will decide faster whether they?re planning to
make an offer. A prelisting inspection can also prepare you for any
issues a buyer?s inspection will turn up and gives you time to address
them."
From "The Home Selling Process":
http://www.wini.com/guide/agent/tools/customize.aspx?Tool=7&Mode=Preview


And:
"... One possible and realistic alternative to help reduce the
potential for such a problem is for sellers to have their homes
inspected prior to placing them on the market. In this way, a seller
can determine what items might be included in a typical cursory home
inspection, and this allows the seller to determine if any significant
defects exist which might affect the salability of the house. Many
times inspectors find problems such as evidence of structural damage
or water penetration which cannot be properly evaluated during a
cursory inspection. If known by a seller prior to listing the home for
sale, any such concerns can be further investigated for proper repair
or at least disclosed to a potential purchaser to reduce the potential
for a delay during the sale process. This information also provides
great insight during considerations regarding the market value of a
home..."
From "Home Inspections Before Selling - Professional Real Estate
Services Articles":
http://www.fsboadvertisingservice.com/home-inspector-3.htm


I think that the time the property you want is in a pre listing state
is spending by the realtor to fix some things before sell it.


You can find more info at this pages:
"Home Inspections: Tools for Real Estate Agents | World Inspection Network":
http://www.wini.com/guide/agent/tools/

"House Clicks guide to selling real estate -- inspections":
http://www.houseclicks.com/selling/inspections.html

"Pre-listing appraisal services - Eastern Appraisal Co.":
http://www.easternappraisals.com/Pre-ListingAppraisals


Search strategy:
"real estate" "pre listing"
"pre listing" inspections
"pre listing" appraisals


I hope this helps you. Feel free to request for a clarification if you need it.

Best regards and good luck with the buying!!!
livioflores-ga