Response time on REO?

[Helen M Leyzerovich]

Hey guys - taking the first step towards flipping and the first property that made sense was an REO. Broker made a note that BEST AND FINAL was due by a certain date so I submitted accordingly. I think I have a strong offer:

- I went 4K over asking (it made sense based on comps)

- cash offer

- 3 weeks closing

- inspection limited to environmental and structural issues

It’s been a week and my offer is still under review. I know it might take a while with REOs but how long is a while? Thank you!