Frustrated with no response on full price cash offer

[Mark Wallis]

REO property on market approx 10 days. We see potential and want the house so our offer is cash at full listing price ($69K). Our buyers agent follows all seller agent guidelines and submits offer with 48 deadline. Seller agent responds that our offer was received and forwarded to bank. 2 days after our deadline my agent contacts seller agent who simply shrugs shoulders and says she hasn't heard from the bank. She does offer that there is one other person who is interested in placing offer but hasn't done so yet.
What the heck!?! full price offer...in cash and the bank doesn't accept? This experience makes Probate sales more attractive.