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Old 07-11-2013, 12:02 PM   #1
twinsouvenirs
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Normal offer/acceptance timelines?

Offer timeline. How long is 'normal' for sellers to respond to an offer? I am totally being impatient but I see another shiny listing for another property that looks pretty good too, and is loaded...

Have you ever pulled an offer after waiting 'too long'? If so, how long was too long?
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Old 07-11-2013, 12:05 PM   #2
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Contact your broker and ask for specifics about the seller.

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Old 07-11-2013, 12:06 PM   #3
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Quote:
Originally Posted by twinsouvenirs View Post
Offer timeline. How long is 'normal' for sellers to respond to an offer? I am totally being impatient but I see another shiny listing for another property that looks pretty good too, and is loaded...

Have you ever pulled an offer after waiting 'too long'? If so, how long was too long?
Depending on which broker you are working with, if you got outbid you might not hear back at all. I would follow up regarding your bid and then feel free to make another if you receive confirmation that it didn't work out (or if the sellers didn't respond).
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Old 07-11-2013, 12:09 PM   #4
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In the future, consider putting a time limit on your offer - for example, something like "offer is good until 5 pm on xx/xx/xx". That might help if you want to keep looking or find something more attractive after you've submitted your offer.
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Old 07-11-2013, 12:11 PM   #5
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I pulled an offer after a couple days. We decided we needed more points though to go to HHI every other year. I don't know how long is too long, if you're not in a hurry and don't see a better 'deal', I would just let it be and see what happens. They might just be trying to crunch some numbers and come up with an acceptable counter offer.
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Old 07-11-2013, 12:12 PM   #6
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I called and they indicated that we are currently the high bid.... thoughts?
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Old 07-11-2013, 12:37 PM   #7
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If you offered less than full asking you can pull it if you want to.
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Old 07-11-2013, 12:41 PM   #8
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I would ask for details of if it was presented to seller & when they expect to hear back from seller. Does the broker have a history of having good, timely communication? Is it a "hard to find" contract? If it has been 24 hours, I would consider making an offer on something else? That's my personal preference not any sort of industry standard. Good luck!
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Old 07-11-2013, 01:09 PM   #9
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They want full list--and it's a stripped contract with a high per point price, so we're walking away... I suppose that wait wasn't terrible
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Old 07-11-2013, 01:10 PM   #10
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Agree with others. Call broker back and make offer good until 5pm tomorrow. There is no "high bidder" process; this isn't ebay. They either accept, reject outright, or counter.

Then you have the option to come up to their full ask price, re-counter, or look elsewhere. Time limit it, to make them commit.
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Old 07-11-2013, 01:11 PM   #11
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Hah we were both typing at the same time...good luck...
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Old 07-11-2013, 01:27 PM   #12
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Thanks Now on to the next offer!!! What fun
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Old 07-11-2013, 03:16 PM   #13
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I beg to differ......I have used all 3 of the biggies and find out they will tell you if there are higher offers already or not. It isnt as "clean" as you think it is.
I have had offers not even submitted by the agent because they said there were higher offers in place already too.


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Agree with others. Call broker back and make offer good until 5pm tomorrow. There is no "high bidder" process; this isn't ebay. They either accept, reject outright, or counter.

Then you have the option to come up to their full ask price, re-counter, or look elsewhere. Time limit it, to make them commit.
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Old 07-11-2013, 03:29 PM   #14
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I beg to differ......I have used all 3 of the biggies and find out they will tell you if there are higher offers already or not. It isnt as "clean" as you think it is.
I have had offers not even submitted by the agent because they said there were higher offers in place already too.
So far this has been my experience too. Although parts may be frustrating it is a lot like an auction with no set end
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Old 07-11-2013, 06:59 PM   #15
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Quote:
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I beg to differ......I have used all 3 of the biggies and find out they will tell you if there are higher offers already or not. It isnt as "clean" as you think it is.
I have had offers not even submitted by the agent because they said there were higher offers in place already too.
I see your point. I guess that's the difference between now and a year and a half ago- then one offer was all many contracts could get.

Speaking personally I wouldn't get into a bidding war- this isn't like a house where there is "one" of the asset in question. Another contract is going to come along- if you don't have urgency with time. But wow, what a difference there is in the 2013 market versus 2012.

Still, with Disney's last price increase, there's a lot of money to be saved in the resale market- even if you do end up paying full resale asking price...
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