I am just wondering the process?
2007-10-17 01:50:49 · 3 answers · asked by . 3 in Business & Finance ➔ Renting & Real Estate
If I dont hear from them does that mean I should forget the sales contract and look for houses some where else?
2007-10-17 01:51:33 · update #1
If it a typical offer direct to the owner/seller, then I would say 24 hours should be long enough. But I advise my clients to write that into the contract so there is no misunderstanding.
If you've made an offer on a short sale or foreclosure, it could takes weeks for the lender to give you an answer.
2007-10-17 01:59:32 · answer #1 · answered by Anonymous · 0⤊ 0⤋
do you mean you wrote an offer that does not have an expiration date in it? Your bad.
I assume you tendered a good faith deposit.
In the context, a commercially reasonable time is likely one week. After that, tell your agent to ask for your check back. You may need to send a written withdrawal of offer with your agent when you do that.
Unless the agent has a "Buyer's Agent" agreement with you, she or he is an agent of the seller. That means that your withdrawal of offer is effective when you give it to the agent, no matter how long it takes him/her to pass it on to the seller's agent and/or seller.
oh
2007-10-17 08:59:42 · answer #2 · answered by Spock (rhp) 7 · 0⤊ 0⤋
As I mentioned if the seller does not respond to your offer within the time you fused your offer by, then the contract automatically becomes void not voidable. If on the other hand you do not have a fuse date on your offer you should write a cancellation notice and if need be make another offer this time with a fuse date for the seller to answer.
2007-10-17 08:57:21 · answer #3 · answered by newmexicorealestateforms 6 · 0⤊ 4⤋