Could be from 48 hours to several weeks, they claim they are overwhelmed with properties, but mainly it may take your agent many tries to get to the CORRECT CONTACT PERSON. I had one property last year that had two mortgages, the Primary lender accepted the offer which whould have cleared their loan, the second lender would not even negotiate. They kept requesting more and more financial information from the original borrower. This borrower moved out of state, refused to cooperate, this NEW buyer walked after several months of waiting for answers. The home went into foreclosure. it sold for almost 90,000 LESS than the total loan amount.
I am basically a LISTING AGENT working with banks and mortgage companies, once the property goes through foreclosure.. I tell them at WHAT PRICE their properites will most likely sell. And they do sell.
Much easier to work with a property once it clears that process. you know right up front what the bank wants, and if you present a lower offer, I usually have an answer within 48 hours.