Back To Blog

Submitting an Offer to Purchase a Home

I want to submit an offer on a home---how long do I give the seller to respond?

When submitting an offer to purchase a home, its customary to give the seller some time to respond.  In a regular transaction, 24 hours should be sufficient.  If submitting an offer on a bank-owned property or on a short-sale property, more time may be needed (usually the listing agent will make a note in the listing stating that extended response time is needed).

The seller may respond any time within that 24-hour period.  They can do one of three things:

  • Accept your offer!
  • Flat-out refuse your offer
  • Counter your offer

If they accept your offer as submitted, please make sure you receive the signed offer back from the seller as soon as possible.

Or if they counter your offer, the time frame of 24 hours is no longer in effectthe seller has refused your initial offer but is countering back to you .could be price or terms or both.  Any other offers coming in may be entertained by the seller during your negotiations with each otheryou could lose the home When you receive the sellers counter, you may accept or counter backat that time putting a time frame again on the offer. And rememberthe seller has every right to accept another offer during these negotiationscant stress that strongly enough!

The bottom line: a home is not considered "pending" or "under agreement" until final agreed upon offer is signed by both the buyer and seller.

by Jeannie McClean

Add Comment

Comments are moderated. Please be patient if your comment does not appear immediately. Thank you.

Comments

  1. bodycon midi dress tumblr on

    Still, Nh, where Bartlet supported mainly because Governor a week or two words and phrases, among the solely a pair of advises (the second simply being the nation's neighbor Vermont) in which a gubernatorial term should be only 2 years. ' Besides being in financial need, recipients must also be passing all their classes and be recommended by their guidance counselors. You have a very special bridal gift that will stand out from the pack for its utility and style. Check out my web blog; bodycon midi dress tumblr
    • social media marketing jobs chicago on

      If you want an email notification each time a post is left, there are options within the settings to organize this. Through a process of analyzing the inbound links into your site, you can see if they look legitimate or not, and if they are not then you can tell Google not to count them. Most of the things you think you know about search-engine optimization, or SEO, may have been true a few years ago but have changed. Feel free to visit my web site: social media marketing jobs chicago