cancel
Showing results for 
Search instead for 
Did you mean: 

How long does it states for reponse with bank own property.

tag
haapril
Contributor

How long does it states for reponse with bank own property.

I placed an offer on a bank owned home on Dec22,2008. We haven't heard anything yet from the banks. Could it be because it's the holiday while the wait could be long. I thought it takes 1-2 days. Does any one have an idea? I think i am so eager

 

Message Edited by haapril on 12-26-2008 05:49 PM
Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: How long does it states for reponse with bank own property.

It took me about 3 weeks to hear back on one I put in.  They wouldn't respond to calls or anything.  Then, out of the blue, they rang!  At that point I was no longer interested based on other things I saw.
Message 2 of 3
Anonymous
Not applicable

Re: How long does it states for reponse with bank own property.

First, I would not be surprised if it was after the 2nd before they respond, and possible the following week due to the holidays.

 

As far as REO goes, it is a shot in the dark to guess how long they will take.  Each bank has it's own process to unload the poperties.  Some have an open bidding time and they will hold out to wait to see if another bid comes in, some have a first come first serve take on it and just want to unload the deal, and some have limited people dealing with it so they may have a 2 week to 1 month backlog before they even look at your file.  It took us 6 weeks from the initial bid, a couple rounds of bartering, and some threatening on our part to walk away to get a signed sales contract.

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.