Foreclosed Home Bank Rules Wisconsin

[Eric Huebner]

Hello BP members! This is my first post on BP, so here it goes... I am interested in buying a bank owned foreclosure on the MLS in my area (Wisconsin). When I contacted the listing agent I was told that the bank would not take offers for 7 days, then only owner occupant offers would be accepted for the next 14 days before any investor offers would be accepted. This is the same format that HUD uses, but this is not a HUD home. Why would the bank use this format and not accept a cash offer from an investor right away? Has anyone else experienced this? Any advice? Thank you!