Is it a short sale? If you do a search on here for short sales you will see this has been a hot topic recently. We have seen banks take many months to respond to offers on short sales. It makes absolutely no sense. You would think the banks would get back to good, solid offers fast, but instead they seem to just ignore them much of the time. We are not saying this is always the case but just from word of mouth from other agents it seems pretty common that the banks take several months to get back to short sale offers. By that time many buyers have moved on to other properties and the banks have to lower the price even more! It seems like the people at many of these banks are asleep at the wheel, as they say.
While many buyers are looking for "short sales" because they sound exciting and new and people like the sound of them, we actually think it is better to look for homes that are for sale from real sellers, and not banks. John Q. Public might be willing to give you a better deal on his home than John Q. Banker who can afford to wait longer. We think the best strategy is to look for properties that have been on the market for several months, with real sellers that need to sell. You can often get these homes for even less than a bank would accept. Good luck with your purchase!