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Old 06-10-2014, 07:41 PM
 
7 posts, read 13,496 times
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We are purchasing a 2nd home in Coastal NC. We made an offer yesterday and have not heard ANYTHING! Based on the time right now, it will at least be tomorrow. Our realtor says it's "no big deal". Really??!! You have your home on the market and you can't be bothered to entertain an offer? Is this just the way things work in NC? Is this the norm in other places? I personally think this is rude and it's making me not want to negotiate if we ever do get a counter. How frustrating!
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Old 06-10-2014, 07:50 PM
 
Location: Los Angeles
12,086 posts, read 13,466,142 times
Reputation: 8599
No. They are waiting for better offers. They will answer you if they have no better offers within your time frame.

If you want to do well in real estate you have to just have to understand this. It is not to their advantage to give you a quick answer. No sooner than your offer states.
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Old 06-10-2014, 07:55 PM
 
7 posts, read 13,496 times
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Unfortunately, the standard contract we signed does not have a time limit. I never even thought about looking for that. I told my realtor "next time" we'll have to put something in there. I'm seriously considering rescinding our offer if we don't hear anything tomorrow. I too thought they were waiting for other offers, supposedly they had a lot of showings last weekend. I just really hate the games. So glad it's a 2nd home and not a primary. I don't have to buy it, or anything right now for that matter. Thanks!
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Old 06-10-2014, 07:57 PM
 
4,453 posts, read 7,777,830 times
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Quote:
Originally Posted by baronreads View Post
I personally think this is rude and it's making me not want to negotiate if we ever do get a counter. How frustrating!
Not everyone has a cell phone and sits by to wait for your offer. Hey, sometimes people are not reachable, sometimes they want to think about your offer ..... Be patient.
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Old 06-10-2014, 07:58 PM
 
Location: Los Angeles
12,086 posts, read 13,466,142 times
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Standard contracts I sign have 72 hour limits. Have your Realtor contact your seller and notify them that you will withdraw your offer after 72 hours. Tell your Realtor to set 72 hour limit on future contracts.
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Old 06-10-2014, 08:02 PM
 
4,453 posts, read 7,777,830 times
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Quote:
Originally Posted by baronreads View Post
Unfortunately, the standard contract we signed does not have a time limit. I never even thought about looking for that. I told my realtor "next time" we'll have to put something in there.
I'd consider another, more competent realtor. Dates matter in real estate. Dont forget to officially withdraw your offer since you didn't put a time limit. Depending on the state law the offer could be good for a very long time.
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Old 06-10-2014, 08:17 PM
 
Location: Brentwood, Tennessee
37,470 posts, read 36,330,237 times
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We always put 24-hour time limits on our offers.
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Old 06-10-2014, 08:19 PM
 
Location: Central Texas
19,597 posts, read 35,900,587 times
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Couple of things. I don't know about North Carolina, but in Texas there is no place in the offer to put a deadline, mostly because of simple contract law - there is no way to enforce it - it's not a contract until both parties have agreed to all terms and have signed off on them. The seller could simply strike through any such clause.

Second, 48 hours is not a long time to evaluate an offer on what is most often one's biggest asset. I know that we've turned into an instant gratification society, but in some cases, instant gratification is not appropriate. Real estate is one of them.
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Old 06-10-2014, 08:28 PM
 
4,453 posts, read 7,777,830 times
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Quote:
Originally Posted by TexasHorseLady View Post
I don't know about North Carolina, but in Texas there is no place in the offer to put a deadline, mostly because of simple contract law - there is no way to enforce it - it's not a contract until both parties have agreed to all terms and have signed off on them. The seller could simply strike through any such clause.
That doesn't make sense. Simply add it to Special Provisions. If the seller changes the contract, that is called a negotiation and it will need to be accepted by the buyer.
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Old 06-10-2014, 08:33 PM
 
8,774 posts, read 9,886,535 times
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When we make offers on property, we do not even expect a acceptance/counter for 72 hours.

I hope the seller accepts but puts a 72 hour maximum inspection and financing contingency in the contract. Afterall, if your buying a house you should have all that lined up already. I personally think it is rude and oh so frustrating to make a seller wait more than 72 hours for your contingencies to be removed.
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