I am a Foreclosure Specialist working with Buyers only. Sadly, this kind of thing happens all the time. I've submitted several offers that have been "held" for one reason or another. Many of the listing agents that list foreclosed properties have many homes on their plate and some offers simply fall through the cracks. As a Buyer's Agent specializing in this area I am constantly calling the listing agent (sometimes 3 times a day) to make sure they are on top of their game. Many are too busy with the amount of properties and offers that they can get bogged down.
Don't get too discouraged as maybe this agent simply forgot to call your agent. I would re-send your offer, have your agent to call to make sure he received it and get some type of response from him as to the day and time it was submitted. Most offers are submitted via email or through the bank's REO management company website.
Foreclosures are a totally different ball game and you want to make sure that your agent is always a step ahead. You also want to make sure that when you receive the bank addendums (if you haven't already) that your agent reads them VERY CAREFULLY!! These addendums to the contract can override anything that is in the original GAR contract.
There are no laws regulating this type of transaction so make sure that your agent is diligent and fights for YOU!!
Please contact me with any questions or concerns,
Lisa Allen, REALTOR
Prudential Georgia Realty