(Update) How long is normal/usual to wait for home seller to repond to offer?

[The Mystery Machine]

I just talked to the realtor. He says there are a few people that need to come to an agreement and that is the hold up (and I guess it involves family and former caretaker, so I can imagine they are arguing amongst themselves). He also left the offer expiration spot blank on the forms by mistake . I am not sure how long that means we are obligated? He said we could back out any time . He does seem to be working for us, as in he isn't the one talking to the sellers, the actual listing agent is trying to get them to respond, and he said he doesn't want us to discuss with him what our top number is or anything. He said he is interested in making us happy. And if the house doesn't sell, he doesn't get a piece of the pie anyway. He seems quite genuine, if not a little dotty (the missing date). So we wait some more. I just want to know how long the estate thinks they have to leave us hanging? We may be the only offer they get for a long while .

Are you looking at other properties?

If you are not than no biggie. I would play the game.

However if you are house shopping under the gun, the offer by the agent was unacceptable with leaving the dates blank. As a buyer he has shut you out of other properties to make an offer on. Of course you could rescind the offer but that can get hairy, depending on the situation at hand.

That being said, I would continue to look. The lack of response is not a good sign imo.

 

[Kellydelly]

Are you looking at other properties?

If you are not than no biggie. I would play the game.

However if you are house shopping under the gun, the offer by the agent was unacceptable with leaving the dates blank. As a buyer he has shut you out of other properties to make an offer on. Of course you could rescind the offer but that can get hairy, depending on the situation at hand.

That being said, I would continue to look. The lack of response is not a good sign imo.

We have been looking at other properties, and came to the conclusion that this one had the most potential and room for our family (six of us) in our price range. That is why we finally made an offer (first saw this place mid August). I am not necessarily in a hurry, just getting anxious since we finally did make a move. I don't necessarily have a solid second choice right now, so not a big deal. If we get it, great, if we don't it's probably in our best interest (it is the place I posted about previously that needs some work).

 

[Sadie22]

Are you looking at other properties?

If you are not than no biggie. I would play the game.

However if you are house shopping under the gun, the offer by the agent was unacceptable with leaving the dates blank. As a buyer he has shut you out of other properties to make an offer on. Of course you could rescind the offer but that can get hairy, depending on the situation at hand.

That being said, I would continue to look. The lack of response is not a good sign imo.

Rescinding an offer, making an offer (or counter offer) that includes all points necessary to protect the buyer. Just a couple of reasons why I recommend involving a real estate attorney, or at the very least an experienced buyer's agent, in all real estate transactions. Yes, I most certainly did mean an actual real estate attorney with experience in the geographical area where the property is located.

A selling agent never represents the buyer. The selling agent represents the seller.

 

[scrapquitler]

I am going nuts waiting to hear back about an offer we put in last Thursday on a lake property we like. I wish we had used a buyer's agent instead of just going through the agent who works for the company listing the property. I feel like we are out of the loop and not allowed to ask any questions. Haven't bought a home in 16 yrs so it's been a while. I know it wasn't more than a day or two before we got a response, though. I am optimistically thinking they are actually considering our offer or trying to come back with a counter offer that won't scare us off.

Has anyone sold a home recently? How long did you ponder the offer? TIA .

Update: Just heard from the realtor an hour ago that the sellers came back with a counter offer. It is more than we want to pay, so I am not sure if we are going to counter their counter or not. Their offer expires in 3 days . If we counter I am putting a time limit on it this time . This the view we are trying to purchase.......need to really think about how much it is worth to us.

The two times we bought, we put a time limit on our offer (suggested by both agents to expedite the process). I think it was 24 or 48 hours. In both cases we heard back within a few hours.

 

[manning]

I am going nuts waiting to hear back about an offer we put in last Thursday on a lake property we like. I wish we had used a buyer's agent instead of just going through the agent who works for the company listing the property. I feel like we are out of the loop and not allowed to ask any questions. Haven't bought a home in 16 yrs so it's been a while. I know it wasn't more than a day or two before we got a response, though. I am optimistically thinking they are actually considering our offer or trying to come back with a counter offer that won't scare us off.

Has anyone sold a home recently? How long did you ponder the offer? TIA .

Update: Just heard from the realtor an hour ago that the sellers came back with a counter offer. It is more than we want to pay, so I am not sure if we are going to counter their counter or not. Their offer expires in 3 days . If we counter I am putting a time limit on it this time . This the view we are trying to purchase.......need to really think about how much it is worth to us.

Your counter offer, if you choose, should not be more than what you want to pay. I would not make it a large increase. If they are interested in selling they will agree or counter offer again. There could be several counters on both sides.

And yes. set a deadline. 9 out of 10 deals take place at or near a deadline. I know, it used to be part of my job.

 

[manning]

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