Bank's INDECISION?

[Sam Leon]

Made an offer on an REO home recently.

Bank came back within 72 hours asking BEST AND HIGHEST within 24 hours.

I adjusted my offer slightly and sent it in.

So far 2 weeks gone by and no news. The listing has disappeared from the web site where you had to submit offers to.

My agent had called and got the standard reply "the bank has all the offers but has not made a decision".

How long does it take the bank to make a decision? Doesn't it normally happen pretty quickly? In the past I pretty much know in 48 hours. In fact my offer had a 72 hour acceptance deadline which is now long gone.

I am guessing this means the bank is in negotiation with one of the buyers and are putting everyone else in a hold position?