I believe every state/location has their own set of rules. i.e. In Florida under "normal" times and absent of any other directive from the "owner" offers have to be submitted within 24 hours. In today's market of foreclosures many banks and asset managers have instructions to their listing agent as how to and when to submit offers. Some want immediately, others less frequently. Many times the instructions direct the listing agent not to submit offers unless all the conditions / forms are complete. Some banks / owners tell their agents to "pitch" incomplete submissions.
Get your Realtor to contact the listng agent for an explaination.
What is really frustrating for us Realtors is when we suspect that the listing agent / broker is withholding offers in order to benefit themselves. Unethical, maybe illegal (depending on state). Totally obsetting to the bank / asset manager and if proven likely to have that listing agent /broker removed from "the list".

All offers in Colorado should be submitted within 48 hours. In reality a good agent should put it in as soon as they receive it. Have you asked why she has not submitted it? Perhaps she has instructions from the seller to wait a certain amount of time. Many of the banks I work for require a 3-7 day wait period before I can submit offers to them for obvious reasons.

Becky

I have a couple of questions.

Who has not turned in your offer and to whom? Do you have a buyer's agent who wrote your offer with you? Did your agent give the offer to another agent? Why do you think your offer has not been 'sent in'?

If you think this because you have not gotten a response from a bank, that could be quite normal. Some of the banks we work with hold offers until they get something close to what they are willing to accept. They just don't respond. A lack of response does not mean your offer was not submitted.

If you are talking about the seller's agent, she may have submitted it and the bank might be waiting for a better offer. That is not illegal. It is really hard to say what is going on without knowing more.

Good luck!

The real question is how do you know if the offer has been sent to the bank? Lot's of times the banks are notified by e-mail or computer systems that a offer has been submitted. Not all REO agents handle the listings the same and banks are not always great in responding timely. Lot's of times the negotiations are verbal until the final accepted offer.

The banks usually wait until after the week end to answer alot of the time in my area.

Hopefully you have a buyers agent that can assist you and get the answers you are looking for.

All offers are to be submitted immediately. This is highly unethical & i suggest you contact her broker or office manager. She can get hauled before the Real Estate commission for this.

I am unconfirmed of your statement?

"... the real estate agent hasn't sent it in yet... "
Are you speaking about your buyers agent? Or listing agent?

What type of property is this? Individual seller, OR bank foreclosure?

It depends on listing agreement with seller agent and instructions provided if offer does not work within seller guidelines then those sales offers are placed in on hold,

We instruct all of our clients if submitted an offer on a short sale or foreclosure keep moving till you close , title transfer, keys are in your hands.

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