GREAT QUESTION: Bank may never respond, I always notify my buyers though we may have submitted an offer we need to keep looking for other properties. IN some instances a buyer could sumbit up to 15 offers considering if a property in a bidding war. Lenders are overwhelmed with current situation MOVE at a snalis pace. http://www.lynn911.comhttp://www.homes-for-sale-dallas.com
The answer varies from bank to bank. It also depends on many other factors such as weather or not the listing agent submits a complete package with ALL papers required by the bank and if they are fully signed and dated. Simply missing a signature can cost a week or two of time. It could easily take anywhere from 6 weeks up to 6 months. In most cases I would say between two and three months.