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You're interested in another home and don't want to lose both. The offer will be rescinded at noon on June 17, 2017. No lie there is there? If you're not getting this one, you're interested in something else.
Well for us, this is our highest and best offer. I would like my husband to withdraw the offer. He wants to wait until Friday. And this is normal for listing agents to just outright lie and say a home sold if it really didn't?
So, your husband likes the house and you don't?
I mean, why would anyone rescind an offer on a house they like?
Does it matter if it is accepted today, tomorrow, or Sunday?
I think Thursdays are the most popular day for listing......and any offer made just prior to the weekend should have a fish or cut bait deadline in it. Otherwise you are competing with weekend traffic. In a hot market, the sellers would likely tell you not to let the door hit you in the arse and say all offers by 5 pm Monday.
Two fishing tales come to mind: On the buyer side, the 1st home you write an offer on will be the home you measure all other homes by if you do not get the contract. On the seller side, it is said the first offer is typically the best offer. I have found both to be true more often than not. So, if this is the home you really want (sounds like it's not), bid on it like you really want it. Don't screw around with bargaining you feel you are obligated to do if you want the home. Save your basement bargaining for homes you are ambivalent about. The OP doesn't say why she wants her husband to withdraw the offer, but she doesn't appear engaged with this home. Is it only because they are keeping you on the hook? Are there better homes out there?
You and your husband are likely making the most expensive purchase of your life. Both of you should be on the same page every step of the way. Otherwise, this could be your most expensive mistake. If this offer doesn't go through, have a strategy meeting between the two of you (and maybe your Realtor). Decide now, how long to leave your offers on the table, what to do if one of you "has to have it" - will you handle it differently? How many of your "must have" items does the home have? I have seen people throw away their lists over a caboose in the back yard (forget it didn't have enough bedrooms) or the mancave in the basement (again, forgetting the list). Set the ground rules now and chances are today's ground rules will prevent tomorrow's mistake.
Again, all offers should expire. Even in the stock market, most people make place a trade request that is good for the day rather than good until cancelled. if the order is good until cancelled, one can find themselves in the unenviable position of the trade being executed 6 months hence with the price trend going the wrong way due to new information.
Again, all offers should expire. Even in the stock market, most people make place a trade request that is good for the day rather than good until cancelled. if the order is good until cancelled, one can find themselves in the unenviable position of the trade being executed 6 months hence with the price trend going the wrong way due to new information.
So since we can't find an expiration date ANYWHERE on the offer, that means this offer just sits forever? For the posters who are asking weather or not I want or like this house, yes, I like it. But it's a starter condo for us, not a forever home, which is why the offer we made, that's it. The reason we want to pull the offer is based on the unprofessionalism that's going on. The possibility that every day there is a "new reason" for the hold up. And now the listing agent flat out lying saying it's sold A house is sold when it's closed. That sale can fall through anytime in the middle. The buyer has a price in mind. You either like ours or you don't. Or you're waiting for bigger offer. Or agents are playing their little game. Which if that case, please send us along our way fast. Which is what will probably happen soon.
So since we can't find an expiration date ANYWHERE on the offer, that means this offer just sits forever? For the posters who are asking weather or not I want or like this house, yes, I like it. But it's a starter condo for us, not a forever home, which is why the offer we made, that's it. The reason we want to pull the offer is based on the unprofessionalism that's going on. The possibility that every day there is a "new reason" for the hold up. And now the listing agent flat out lying saying it's sold A house is sold when it's closed. That sale can fall through anytime in the middle. The buyer has a price in mind. You either like ours or you don't. Or you're waiting for bigger offer. Or agents are playing their little game. Which if that case, please send us along our way fast. Which is what will probably happen soon.
The offer sits until you withdraw it or the seller accepts, counters or rejects it. I would withdraw the offer and find a new agent that's more experienced and professional. At that point you can make a new offer on the same property with a "respond by" time frame or you can look for other properties.
So since we can't find an expiration date ANYWHERE on the offer, that means this offer just sits forever? For the posters who are asking weather or not I want or like this house, yes, I like it. But it's a starter condo for us, not a forever home, which is why the offer we made, that's it. The reason we want to pull the offer is based on the unprofessionalism that's going on. The possibility that every day there is a "new reason" for the hold up. And now the listing agent flat out lying saying it's sold A house is sold when it's closed. That sale can fall through anytime in the middle. The buyer has a price in mind. You either like ours or you don't. Or you're waiting for bigger offer. Or agents are playing their little game. Which if that case, please send us along our way fast. Which is what will probably happen soon.
Bolding mine...Didn't you just say it said 10 days a few posts ago??
You can certainly withdraw your offer though. Which I would do if they're saying it's "sold." If it's not and you're still interested, maybe make another offer with a lower amount.
....Does it matter if it is accepted today, tomorrow, or Sunday?
It most certainly matters in a hot market. If the seller decides to say no, the buyer wants to move on and make an offer on their next in line choice before someone else buys it.
If you wait a week for an answer and you don't get the house, everything else you have looked at might be gone and you have to start all over, sifting through what is available, trying to find something you like.
That's is especially difficult if you don't live in the area and have to make an additional trip to look at listings.
OP, I write offers with a 24 hour window to respond. What I am finding this year is that sellers just ignore it and respond whenever they are darn good and ready, or they don't bother to respond at all.
It most certainly matters in a hot market. If the seller decides to say no, the buyer wants to move on and make an offer on their next in line choice before someone else buys it.
If you wait a week for an answer and you don't get the house, everything else you have looked at might be gone and you have to start all over, sifting through what is available, trying to find something you like.
That's is especially difficult if you don't live in the area and have to make an additional trip to look at listings.
OP, I write offers with a 24 hour window to respond. What I am finding this year is that sellers just ignore it and respond whenever they are darn good and ready, or they don't bother to respond at all.
???
The buyer is always free to move on and buy another property. No?
I never shut down because an offer is on the table. I would not hesitate to show houses all day, all week, while waiting for a response.
The real questions are:
1. Where is the OP's money? Have they written a check? Have they handed that over with the offer, or waiting for a contract?
2. OP needs to know if they can be forced to contract and lose money because a slow seller lingers over it?
If "No," why would they ever rescind until they have a contract on something else?
What is magical about a 24 hour deadline?
Since people ignore it, how is it of any material value? Real Estate Testosterone doesn't count, but it sure causes a lot of emotional turmoil.
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A house is sold when it's closed. That sale can fall through anytime in the middle. The buyer has a price in mind. You either like ours or you don't. Or you're waiting for bigger offer. Or agents are playing their little game. Which if that case, please send us along our way fast. Which is what will probably happen soon.
