Zillow Advice: Buying a Foreclosure - BOA response time and offer on foreclosed condo? http://www.zillow.com/advice-thread/BOA-response-time-and-offer-on-foreclosed-condo/463273/ Zillow Advice | Zillow Real Estate This sounds like it might ... http://www.zillow.com/advice-thread/BOA-response-time-and-offer-on-foreclosed-condo/463273/ This sounds like it might be a great offer. I would have done the same thing if I was in your place or representing you. The agent is also not allowed to tell what the other offers were, so there is no telling if they are coming in high like you or lowballers. &nbsp;Because you are owner occ, offering cash and higher than asking it is a strong offer. &nbsp;AND - if possible, if there is a counter offer, make a much stronger Earnest money deposit - like half the price $8k or maybe full offer at $16k. &nbsp;You should have time to close, but once you get an answer which should take 3-5 days, the bank will set another closing date in the future most likely. &nbsp;I have only closed one BOFA deal on time and without struggle this year out of 3 deals. &nbsp;One time the buyers signed docs and then had to come back in and sign again because BOFA didnt get to the final approval of closing paperwork in time for that day. That being said - you have to have patience to get a deal! &nbsp; Tue, 09 Oct 2012 15:16:00 GMT http://www.zillow.com/advice-thread/BOA-response-time-and-offer-on-foreclosed-condo/463273/ 2012-10-09T15:16:00Z Thank you, Ethan. Patience ... http://www.zillow.com/advice-thread/BOA-response-time-and-offer-on-foreclosed-condo/463273/ Thank you, Ethan. <br/><br/>Patience <em>really</em> is a virtue as a buyer. <br/><br/>I'm a bit jaded because back in May, I made an offer on a short sale home, also being handled by BOA. To my knowledge, I was the only person to make an offer on the home. I went months without a response; all the while, my former agent assured me that the process was going well. The listing was removed in late July, and though I had not been given an official "okay" that the offer was accepted, I saw it as a good sign. <br/><br/>Turns out, the listing was removed because the house had gone into foreclosure and was purchased by Fannie Mae. The agent did not inform me of this until I pressed her about it, and she finally came clean in late August and said the home was not available. <br/><br/>I have been looking for a property to purchase since March and I am at my wit's end. If this doesn't go through, I think I will steer clear of both REO's and short sales. Tue, 09 Oct 2012 20:27:00 GMT http://www.zillow.com/advice-thread/BOA-response-time-and-offer-on-foreclosed-condo/463273/ 2012-10-09T20:27:00Z