Nobody can give you an educated answer without knowing more details about the home, the neighborhood, and if there are multiple offers. You should not have to wait for more than a few days with any bank to recieve an answer, unless the property you are making an offer on is a preforclosure/shortsale. It sounds like the property you are making an offer is a bank owned property. You should use a Realtor to help you figure out what the property may be worth, help you write up an offer, and make sure you have ways to do your due diligence without risking your earnest money. In these bank owned situations it is completely free for you to use an agent. The listing agents for the bank do not usually cut their commission at all because they don't have to. They are representing the sellers best interest, remember this. Get in touch with someone who will represent your best interest and who knows how to deal with these kind of properties. I have a lot of experience helping buyers negotiate on these kinds of properties. Let me know if you have any questions.