What happens when you make an offer for a condo and you indicate the time limit for the seller to respond to the offer but after that time you do not receive any answer from the seller?, what happens legally with the offer??
2006-11-21 07:21:00 · 8 answers · asked by cagc2003 1 in Business & Finance ➔ Renting & Real Estate
If the seller has not responded to the offer, then it would be considered to be refused. Basically, if you haven't heard back from the seller, then he/she has not accepted your offer. If you put up Earnest Money (usually with an escrow company or real estate agent), then you're entitled to get that back.
2006-11-21 07:31:40 · answer #1 · answered by Sithein 3 · 0⤊ 0⤋
The offer is no longer good. You would have to put another offer in or the seller would have to put an offer in. There couldn't be a counter offer.
2006-11-21 19:21:26 · answer #2 · answered by Melissa 2 · 0⤊ 0⤋
After the time has expired, you are deemed to have withdrawn the offer. Even if the seller accepts it, signs it and faxes it back to you, it is not valid.
If you are still interested, you have to send another offer.
2006-11-21 15:29:21 · answer #3 · answered by teran_realtor 7 · 0⤊ 0⤋
If they don't reply in time, your offer is void. They can come back with their offer, but now it's your choice to accept it. Even if they accept your "offer", since your offer expired you are not bound to it.
2006-11-21 16:04:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋
i believe it would be void, but it would depend on the specific language in the contract to that effect. Of course, if they accept late (after the time expired), you could still choose to honor, you just don't have to.
2006-11-21 15:27:41 · answer #5 · answered by RR 2 · 0⤊ 0⤋
Legally, you can withdraw your offer.
Here is some additional info. Hope this helps.
2006-11-21 16:24:05 · answer #6 · answered by Anonymous · 0⤊ 0⤋
your offer expires
2006-11-21 15:39:54 · answer #7 · answered by Anonymous · 0⤊ 0⤋
What everyone else said.
2006-11-21 15:52:48 · answer #8 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋