Buying A Home
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
How long does it take to hear back from the seller after an offer has been submitted?
Hi All!!! I'm really excited to have something to write in THIS board!!! So my husband and I found THE perfect first time home purchase for us. Everything we need and move in ready!!! We made and offer today and our realtor informed us that the seller has two days to respond but I was wondering if anyone else could share their personal experience if they her back from he seller before the 2-3 days.
We're obviously really anxious and of course hoping for a mutual acceptance or even a counter offer but some actual advice would be really nice. Thank you all in advance!
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Re: How long does it take to hear back from the seller after an offer has been submitted?
It's really hard to say since every seller is different and wants to think things over. We put in an offer late one evening and gave the sellers until the next night (24 hours) to respond. The sellers agent met with them in person at 1 or 2 that afternoon and presented the offer. We heard back around 2:30 or so that they accepted.
When we sold, I believe our buyers gave us 24 hours as well. Our agent emailed over the docs after he called to give us the rundown. I believe we countered the next afternoon.
It really depends. We submitted an offer at 7:30 in the evening and gave 24 hours to respond. We didn't expect to hear until the next day since we submitted late, but we had a counter by 11:00 that night.
When we sold, our buyers gave us 24 hours, and we did use much of that time before we countered. We had to go over numbers and check bank accounts to make sure we could actually afford to entertain their offer. We took a loss. :
I think it depends upon what type of sale it is, and how long it's been on the market, whether or not you put a timeline on your offer etc.
It varies depening upon whose selling the property: an actual seller, an investor, a bank sale, short sale etc. If it's been on the market longer, sellers get more desprate; if it's just been listed, they may not accept the first offer they get even if it's above asking.....
We put in an offer in to a bank owned property almost a week ago and are still waiting for a yes/ no/ f you.... We didn't put a timeline on our offer as we didn't want our offer to get tossed out right away.The property had only been listed a day and we were worried they might want to see what other offers were given and therefore risk our above asking offer in hopes of getting and even higher above asking or one with more down than what we have. The best advice I can give is to be patient and stay in contact with your agent. This is the worst part about buying a house.... waiting.
Good luck!
It really does depend on the seller. For us we made the offer, and I believe gave them 48 hours to respond. The house was being sold by the owners children as she had passed away. They came back 2 days later with a counter and we countered right away and i think it was the next day they accepted.
GL with your offer!
The first property we were in contract on we had a 48 hour limit on response time and they actually responded to say they would need more time (husband was in another state working) and could we give them til Monday at noon (it was Friday). I had a response by Monday at 11.45...
The house we are closing on in 2 weeks we had a 24 hour limit on and had the first counteroffer in 3 hours. Now this did happen to be the best friend of my REA that was listing and her husband that was selling, so they were aware it was coming. I countered and they accepted and I had a final accept on the counter within 8 hours of the original offer.
I would say in general that the first response might take up close to your full limit, but after that any counter should go quickly since the sellers have been talking about it ever since they countered (if they do)