By the way, Carl, I just read your blogs on REOs...very imformative and so very very true. And, of course, I loved the T-Rex article--hysterical!
I wish you very good luck in your purchase, ZB. A week is not a very long time for the bank to respond, and I've often been left waiting for as much as a week or more to receive a response on an REO offer. The key, of course, is for your agent to follow-up and request an update on the offer. In some cases, as the others have noted, the answer is "no answer" (translation: "no") and at other times, the asset manager has not completely dismissed your offer, but they aren't ready to accept it either. I'll hope for positive news for you!
Grace Morioka, SRES, e-Pro
Area Pro Realty