Wait time....

[MommyBell08]

What would a reasonable wait time be IYO once an offer is submitted on a resale? We have normally had a very fast response, and this time its past the 24 hour mark. (Its the weekend I understand, kinda.) When would you say the offer is null? After how long with no response? I know in single family home real-estate the offer is sometimes only valid for 24 hours, exc., regardless of the day or holiday. Real estate "knows no holidays" is what my realtor says. I have my eye on other contracts and would like to jump if our offer is rejected.

 

[malba2366]

AFAIK you can put offers on multiple resales, even if the seller accepts your offer you are not obligated in any way to purchase it.

 

[CarolMN]

Many put a time limit on their offer. For example, the offer is good until 5 pm on Friday, xx/xx/xxxx. You can put whatever time limit works for you.

If your broker isn't open on the weekends, I'd call on Monday and find out the status. At that time, you can give them a cut off time and then follow up with an email restating the deadline.

 

[npmadsen]

I put an offer in late Thursday night and the broker called me around 9am on friday that it was accepted
Good luck
Now to find out about Disney ROFR

 

[jerseyduke]

personally, I would state that your offer is good for 48 hours. If I put an offer in on Friday, I would say EOB Monday.

We live in a world of instant notification, and constant contact. There are very few reasons for people to be "unreachable" for any real length of time.

IMHO, the seller is trying to sit on it, hoping a better offer comes in while you wait. Put pressure on them. Make them decide.

Also note that if the contract is a "Can't close until XX/XX" you probably will not get an offer below asking accepted. If the buyer can not sell until July, he can wait until July.

 

[jmmess]

Have you followed up with the broker?

 

[gharter]

Agree with the others. Unless you really want this contract and can't find anthing similar, I would put a limit on how long the offer is good for. Otherwise, it would appear the seller amy string this out as long as possible. The secret to negotiating is to never not be able to walk away.

 

[MommyBell08]

Thanks guys, that offer was accepted, the broker got a hold of me later that night, but turns out the UY was listed wrong on their site. We now have another offer on a VWL property accepted with a UY that works for us. We are waiting on ROFR now.

 

[CarolMN]

Thanks guys, that offer was accepted, the broker got a hold of me later that night, but turns out the UY was listed wrong on their site. We now have another offer on a VWL property accepted with a UY that works for us. We are waiting on ROFR now.

Thanks for reporting back and more importantly, GOOD LUCK WITH ROFR!

 

[gharter]

Thanks guys, that offer was accepted, the broker got a hold of me later that night, but turns out the UY was listed wrong on their site. We now have another offer on a VWL property accepted with a UY that works for us. We are waiting on ROFR now.

Good luck with the new offer.