How long will it take after I put an offer in on a forclosed house before I get an answer, typically? The house just went on the market a few days ago also. I am the only offer right now. Also after they accept the offer, how long does closing generally take if there are no problems with the loan? I am impatient. Thanks.
2007-10-29 12:53:51 · 1 answers · asked by Olivia 3 in Business & Finance ➔ Renting & Real Estate
it's selling for 130,000 and I offered 130,000 but that I need closing costs which will be 5600.
2007-10-29 13:24:04 · update #1
I've heard stories (from local pros) about banks just ignoring offers that they think are too low and not even responding to them. If you've submitted a lowball offer, don't be surprised if you hear nothing at all. It all goes down to how desperate they are to clear it from their inventory.
Normally an offer is only good for 3 - 5 days. If you haven't heard anything within that timeframe, your offer is legally dead and not binding on either party.
If the offer is accepted, you should normally be able to close in 20 - 45 days if everything works out with the mortgage, inspections, etc.
2007-10-29 13:19:51 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋