VA Response Time & Waiting Period?

[John McAuley]

Hey Guys,

I've recently put an offer in on our first VA foreclosure. We were in the property within a few hours of it being listed and submitted the offer that day. Unfortunately, that's when we found out that speed on my end doesn't really gain you a lot of advantage with the VA. I have two questions:

1)  Is there a waiting period between the time the property is listed and the time they will accept offers?  We submitted an offer the day it was listed but the listing agent told my agent that she could not submit offers until 5 days had passed.  I can not find any other discussion talking about this so I'm just checking to see if they pulled one over on us.

2) We were the first to offer but by the time the LA submitted it, there were 4 other offers.  That is what we were told anyway.  So of course we got the highest and best response and went back with our highest and best.  That was Sunday night and we have heard nothing from the LA since.  We felt really good about the offer so I'm wondering if we are dealing with a situation where the company handling the foreclosure isn't responding or if it is most likely an issue with the LA.  Does it normally take more than 3 days after highest and best offers are submitted?

Thanks for any help.

John