Question on a va foreclosure we bid on?

Question

We put in a blind bid on a va foreclosure. The asking price was $54,000 and we bid $58,000.The home is worth well over $80,000. Got everything in order,loan approved,20% down, we are ready.The Simultaneous Offer Period ended July 17th at midnight. How long does the Va have to review the loans? The wait is killing me!!! Our realtor thought just a few days but I am expecting longer.After all it is the government...

Answer 1

Give it about 7 days.  The first two days they review information on your bid is correct then they place the file on top of a stack of other files.  After about 5 days that's when your Realtor should call them daily -- to put some fire underneath'em.  Good luck on the deal.