2007-11-08 05:40:01 · 6 answers · asked by snickers 1 in Business & Finance ➔ Renting & Real Estate
Your buyers agent likely put a response time on your offer, but that’s just to tell the sellers when you expect an acceptance or counter. You won’t know you’re buying for sure until you have an accepted contract (which can take several days), and get past inspections and appraisal. I’m sorry your buyers agent isn’t explaining this all to you.
2007-11-08 05:46:51 · answer #1 · answered by Anonymous · 0⤊ 0⤋
depending on how many contracts the listing agent got will depend on when the agent decides to sit down with the sellers to present the offers. If she has a lot then she will wait until they are all in before presenting. If it's just yours then she has an obligation to present your offer immediately. The seller should have a response or counteroffer back to you within 24-48 hours. It's always best to put an expiration time on the offer, I've heard of people putting a 5 hour expiration time limit on a bid. Once the seller has accepted your offer then the contract is signed and the paperwork begins.
Depending on where you live you might be required to get an appraisal and a home inspection. You can specify a quick closing but remember, no closings EVER happen on the day they are supposed to. The bank needs time to get everything together and request the money etc so you will usually be held up by the bank.
It's usually customary to set the closing 30 days out to give the seller time to move.
Good luck
2007-11-08 15:08:18 · answer #2 · answered by Weimaraner Mom 7 · 0⤊ 0⤋
Congrats! Well did you give a time frame (like reply in 72 hours)? If you didn't then they can get back to you when they feel like it. Once you go under contract on the home the closing date can be anywhere from 30 days to as long as 90 depending on what you agree to. Normal time frame is 30 days, but if they need to move out etc they may ask for more time. The time frame should have been spelled out in the contract offer. Good luck-now is a great time to be a first time buyer with nothing to sell. Enjoy your new place.
2007-11-08 14:23:24 · answer #3 · answered by VAgirl 5 · 0⤊ 0⤋
Ask your agent. Usually, when you make an offer there is a time limit on it. Usually 2-5 days. The buyer's acceptance will list contingencies like how long the escrow will be, etc.
2007-11-08 13:59:37 · answer #4 · answered by ? 6 · 0⤊ 0⤋
The seller will probably get back to you either today or tomorrow on whether they accept your offer. They might make a counter offer, then you have to decide whether to accept that.
Once you and the seller get an agreement in place, you'll have to arrange financing and then a closing. If all goes well, that would all probably take a month or more.
Good luck.
2007-11-08 13:47:13 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
depends...if you're approved for financing...then you can close in 10days.
most sellers want 30days to move out.
2007-11-08 13:45:51 · answer #6 · answered by Anonymous · 0⤊ 0⤋