But, what does your Realtor say?
Do you not believe them?
Were there multiple offers?
If you are in multiple offers, and you made a low-ball offer, you probably will never hear a word.
Your agent is key in communicating with the listing agent. Most busy REIO agents now only communicate via email, unless you have the winning bid.
You MUST go in with all of your documentation complete or your offer will A)most probably not be submitted, and B) it's not the listing agent's responsibility to remind your agent of what is needed.Don't low ball the bank if it's listed well...those days are OVER my friend! Be ready to rock.
NMLS # 6395
Financing Kentucky One Home at a Time
Your Realtor needs to call the listing agent on a regular basis. In dealing with a home that has been forelcosed the bank has so many homes and offers to monitor. It can be as fast as 5 days or as long as2 weeks to receive an approval of an offer. Remeber that banks are overwhelmed with many files. Stay in touch with your Realtor, they are working for you.
Is your offer more, less or equal to the listing price?
I assume you are talking about an REO listing.
How long you might be waiting for a response will have alot to do with your agents follow-up with the listing agent (the agent who represents the seller). It has been my expirience that most agents will generally submit offers to the seller in a few days after receiving them, so you might be only waiting 1 to 2 weeks. Now, if there are several offers and your agent is not following with his counterpart or your offer was way to low, you might never get a response.
If you do not feel that you can trust your agent to give you fair and reasonable information and communication, you might need to look for an agent that you feel more comfortable with.