Many times you'll never hear any response. Properties are being hit hard with multiple offers right now. The banks are usually only looking at the top 3 offers and disregard all others. Of those 3 top offers, they may hear the YES or NO. All the other offers many times get thrown on a pile and never get any attention what so ever. Usually the REO agents don't take the time to call or e-mail the 20 other offers that weren't strong enough.
Hi, Veronica. On the other hand, an REO can be a diamond in the rough! REOs can be good buys, but you must have all the inspections done and don't let anything slide by. You can offer whatever you want to. These homes that have been on the market for over 100 days are more likely to look at a lowball offer than one fresh on the market.