We have put in an offer on a house...

Question

What is a reasonable amount of time for them to give us an answer? We put the offer in last weekend and they havent said yes or no.. whats going on there do you think? We did offer 17500 grand lower than the asking price - I dont think they`ve had any more offers but we expected to know right away - the agent said they havent decided yet - do you think they`re holding out to see if they get a better offer. How long a time do you think that its reasonable for them to do this?

Answer 1

http://www.realpropertyadvice.com/5-piec...

Answer 2

Your offer has expired.

If your offer has a bank involved, either because it is a short sale or a foreclosure you can expect weeks, 3-4 months if it is a short sale.

And yes, one reason they give it a long time is to collect offers.    A bank has no problem with waiting for months or simply until they get a decent offer.   They do not always bother to refuse, especially the low balls, they are simply thrown out.

Answer 3

duhhh.... Of course, they want more, wouldn't you? Didn't you put a deadline on your offer? You need to exert a little pressure.

Answer 4

Didn't your offer have an "irrevocable until" date and time on it?   If that time has passed then the offer is dead and you should shop elsewhere.

Answer 5

ring the agent and tell them they have 48 hours to make a decision  (or whatever you decide) either way else you will withdraw your offer, if they come back and say no then you are goignto have to decide if you want to offer more or not - in this climate they are lucky to get any offers at all!! I would expect an answer to an offer within 48 hours at any rate. good luck

Answer 6

yes you should have heard by now.I'm a mortgage broker and you should have your agent amend your offer to a 48 hour time to answer your offer.the realtor should know this.good luck

Answer 7

A month A year it is up to the sellers.

Answer 8

two things first never tell anyone else what you are offering but they might be pushing you to get a better deal stick with it and you will be victorious thank you for asking though  

Answer 9

Most contracts have a pre printed deadline for the seller to respond by or your agent can write one in. Take a look at what you signed - I'm surprised you agent didn't tell you that instead of saying they haven't made a decision. I'm sure by now, your offer has expired.