I have placed an offer on a foreclosed home a week ago. How longs does it take to get an answer back the bank?

Asked by Samantha, Pleasant Hill, CA Fri Nov 21, 2008

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Adrian Huntington’s answer
Adrian Hunti…, Agent, SAN FRANCISCO, CA
Tue Jun 23, 2009
What was the property address? Did the listing have a due date for all offers, or was the agent submitting the offers as they were received. Each bank and asset manager have different time frames, but most of the time you would get a response within five days. I would call your realtor, and have them follow up with the listing agent. Some REO listing agents don't have the courtesy to tell you your offer wasn't accepted. If you have any questions, I would be happy to see if the listing is still showing active.

Sincerely,

Adrian Huntington
Coldwell Banker Coon & McCreary Realtors
1954 Contra Costa Blvd.
Pleasant Hill, CA 94523
adrian@YourEcoRealtor.com
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Bernard Gibb…, Agent, Danville, CA
Fri Nov 21, 2008
It really depends on the bank but usually no more than a week (but remember that banks don't work Saturday and Sunday).

I wrote an offer for a client on Monday and we got a response yesterday (Thursday).

Assuming you wrote the offer with a real estate agent to represent you (and why wouldn't you?). He should be able to answer that question more helpfully as he will know which bank is involved.

Bernard Gibbons

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Bernard Gibbons, Realtor, e-PRO Certified Internet Specialist
J. Rockcliff Realtors, 15 Railroad Avenue, Danville, CA 94526
Phone (925) 997-1585
bernard@bernardgibbons.com
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