Sometimes bank owned properties do take a bit longer to get a response. Have your agent follow up with listing agent. Also many banks now have 800 numbers you or your agent can call to get status of your offer. Usually if you have not had a response within 72 hrs of making an offer excluding holidays and weekend days.
Hope this helps.
B est wishes on your offer - hope you get it.
The Achievers Grp - REO Division
Remax Town Center
The Listing Agent should know which offer has been selected, because time is money. normally the sellers want their money in 30 days, so they are not going to waste a week waiting...
OTOH, a short sale is another matter...
Thanks for your question!
Unfortunately, bank owned properties generally have longer response times than regular properties that are on the market. Ask your agent to if he has heard from the bank. If he/she hasnâ€™t, ask him to follow-up to see where they are in their process. In the meantime, try to be patient and consider â€œno newsâ€ as â€œgood newsâ€.
A short sale can take months to get an answer. A bank owned home, also called an REO, will take less time to get a reply.