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We wrote a contract for a home, full price, paid cloings costs. Buyers accepted. We wrote the AO option. We had the home inspected 4 full days ago, our 10 days is running out. Is there a benefit to the seller to wait to give their resonse to our asked corrections at the very last second? Are they able to take additional offers the moment the AO comes off, are they looking for multiple ones, or since we have an agreeded upon offer are they just taking their sweet time? I asked our agent and she stumbled for any sort of answer.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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Sort of depends on what you asked them to correct. If it's a big number, or if you asked them to fix everything on your inspection report, I would see an advantage to the seller to wait you out. In my state the request for repairs for gives them a specified amount of time to give thumbs up or down. We don't have the AO option here though.
We don't have option periods here so I can't speak to how those work. If you asked for large items, it could be as simple as the seller needing to get quotes on the items before responding. Not sure why a buyer agent wouldn't know that though if they asked the listing agent.
The seller is probably getting estimates. I just had a buyer have to extend their option because we had to get insurance involved for a hail damaged roof. If you aren't getting answers because they need estimates, you can extend.
They can accept offers during the AO, they don't need to wait. A seller can always accept a back up CONTRACT. If they have a back up in place, they can say no to you and then wait for you to agree to continue or you terminate and move on.
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