We just put in an offer for a home yesterday morning. It's been 24 hrs. and we haven't heard anything yet. I thought that the first counter-offer wouldn't take so long.
2006-11-06 06:49:21 · 6 answers · asked by mama_mia 2 in Business & Finance ➔ Renting & Real Estate
Locally we put a time limit that the seller has to consider the offer, so check your contract and see if there is a time limit for them to repsond. It is often worded that the offer is open until.....
I would call your realtor and ask him/her what time frame is in the contract and if there isn't one specified, what is the local custom.
Local custom is that there is a 24 hour time period for response, unless it's a "hot" property, then it can be as little as is written in the contract.
Of course all this goes out the window if you are offereing on a lender owned property. Banks respond in their own time, even if you have an expiration on the offer.
2006-11-06 07:38:11 · answer #1 · answered by julsells 2 · 0⤊ 0⤋
usually it can be up to 3 days. It varies with every seller. I've heard back within an hour on some and others took more than the 3 days my offer was valid for. No real way to tell
2006-11-06 15:12:17 · answer #2 · answered by Jim7368 3 · 0⤊ 0⤋
There is no specified time limit. You can put a limit within your offer, or have your Realtor call the other Realtor that the offer is good until 5 pm today, (or whenever).
What you don't want is for the seller to be "shopping" your contract.
2006-11-06 15:00:47 · answer #3 · answered by teran_realtor 7 · 0⤊ 0⤋
When we put in our first offer it took a little over 24 hours to hear back from the sellers.
best of luck to you
2006-11-06 14:51:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It depends on how long it takes to find the Seller. In the future, put a time limit to respond like two days.
2006-11-06 15:01:20 · answer #5 · answered by open4one 7 · 0⤊ 0⤋
About two days for us. If you do not hear in three days call the Realtor.
2006-11-06 14:55:15 · answer #6 · answered by shepherd 5 · 0⤊ 0⤋