We have made on offer on a home that is in the process of foreclosure. The Selling agent ordered a HUD1 statement and supposedly submitted to the lenders. The property has a 1st and 2nd. How long should we reasonabley expect until the bank gets back to us/them. How do we know the selling agent really submitted the offer to the banks. It has already been 7 business days (not including sat & sun) offer is 17% below perceived market value.