what is the time limit a bank has to accept or deny a bid?

Asked by Amy, Michigan Tue Jun 12, 2012

i put a bid on a short sale home 8 months ago i offered the asking price the home owner accepted the bid right away and now we still to hear from the bank. is there a time limit the bank has to accept or counter offer our bid?

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Ron Thomas, Agent, Fresno, CA
Tue Jun 12, 2012
I would gather that the Bank has not responded in any way, and has likewise, not continued the Foreclosure or set a date for the Trustee Sale?

I would say that 8 months is rather absured.
But, how to you prod an 800 pound gorilla?

You don't have a Contract, so you can't give them a NOTICE TO PERFORM.
If you try to bug them too much, the FILE may end up on the bottom of the pile.
And you will never find the name of the person at the Bank to blame; never!

So here you sit; the Seller has been living free for 8+ months.
And you and the house are in limbo.
It seems like you have two choices:
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