Buying A Home
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Got an offer...how long for negoations?

So excited we got an offer on our house...but it was kind of "slim", so we came back and asked for a bit more.  We are actually asking about in the middle. Not what we were asking, and not what they want, but in the middle.

We got an offer at 5 PM, called the realtor back at 6:30 with our changes, and have been waiting..., waiting so patiently...to hear back with an acceptance or rejection

I thought it would be wrapped up tonight...is this normal? 

Anyone can be cool, but awesome takes practice!

Re: Got an offer...how long for negoations?

  • How long did you give them to respond to your counteroffer?
  • Very normal for it to take that long.  Our agent waited to respond to our sellers (on purpose) as a negotiation tactic.
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  • We didn't put a time on the counteroffer...Hmm

    We did the counter over the phone and the realtor just said he would "run it up the flag pole and get back with us tonight."

    Our realtor is the buying/selling agent...kind of a different situation.

    Probably should have put a time/date on it...looking at the purchase agreement.

    Anyone can be cool, but awesome takes practice!
  • imageApril37:
    Very normal for it to take that long.  Our agent waited to respond to our sellers (on purpose) as a negotiation tactic.

     Why is waiting a negoation tactic? 

    Anyone can be cool, but awesome takes practice!
  • m+jm+j member
    imagejallen76:

    imageApril37:
    Very normal for it to take that long.  Our agent waited to respond to our sellers (on purpose) as a negotiation tactic.

     Why is waiting a negoation tactic? 

    If a person responds too quickly they may look too eager.  If they wait, it helps show they aren't in a rush or overly excited about your property.  We did this on the two houses we offered on as well--countered three days later rather than jumping on it right away.  

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  • imagem+j:
    imagejallen76:

    imageApril37:
    Very normal for it to take that long.  Our agent waited to respond to our sellers (on purpose) as a negotiation tactic.

     Why is waiting a negoation tactic? 

    If a person responds too quickly they may look too eager.  If they wait, it helps show they aren't in a rush or overly excited about your property.  We did this on the two houses we offered on as well--countered three days later rather than jumping on it right away.  

    Yes, this exactly.

    Lilypie Kids Birthday tickers
  • I think we made it to the 4th counter offer before they accepted (and I was actually surprised they accepted that one).  I think the sellers waited till the deadline to respond each time (and I think we have 24 hour deadlines each time).    The whole process took about 5 days until we were under contract. 

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