Standard time for seller to respond to an offer? (short sale, condo)

[Magic78]

We put an offer on a home midday today. It is a new listing and has had many showings in just 4 days. How long should we expect to wait for a response? The owners live out of state, and it is now being rented. Is there a legal time frame? We know that the seller's realtor has 24 hours to submit our offer to their client.

Thanks!!

[SweepTheLeg]

Originally Posted by Magic78

We put an offer on a home midday today. It is a new listing and has had many showings in just 4 days. How long should we expect to wait for a response? The owners live out of state, and it is now being rented. Is there a legal time frame? We know that the seller's realtor has 24 hours to submit our offer to their client.

Thanks!!

I'm not sure about a legal time frame, but if you don't hear by Monday I'd put another call in to the realtor.

[NJcost$$]

Typically on the proposal to purchase, you would make a note of how long seller has to respond. Average is 2 days, but could be longer or shorter. did you specify a timeframe? Also, when offers are submitted, particularly on a weekend, a seller will wait out the weekend to see if they get more showings and possibly another offer. I do agree with SweeptheLeg though, if you don't hear anything by Monday, have your Realtor press for an answer.

[cw30000]

I believe they get 3 business days.

[Marc Paolella]

They have... forever. It's in their interest to respond in a timely fashion. But there is no obligation to act quickly, or at all. If it's rented, it may be a short sale. If that's the case, multiply forever by a factor of 3.1416.

[manderly6]

Wouldn't this be a good question for your realtor?

[Magic78]

Our realtor basically said whenever but wouldn't let it go too long. Just wondering what people have experienced.

Thanks!

[Mightyqueen801]

Mine took about a week and the excuse at that time or any other time we were waiting for something in the process was that they didn't speak or read English so everything had to be translated for them. However, down the road I found out that THEIR REALTOR was also Korean, spoke both English and Korean fluently, and was in fact a member of their same church so he saw them all the time. The problem turned out to be that the elderly man and woman from whom I was buying my condo hated each other with a passion but wouldn't divorce because it was shameful in their culture, so getting them to sit down and discuss the sale together without them fighting or one of them walking out of the room was what caused the delay.

And they had crucifixes and pictures of Jesus all over the house and even an altar set up in the second bedroom. Loved God, but hated each other.

[CaptainNJ]

Originally Posted by Magic78

Is there a legal time frame?

if there was, would you sue them for not responding to an offer in the legal time frame? if they were interesting in selling their home, they probably will respond within a day or two unless they are out of the country.

[Goldendoodle1969]

Originally Posted by Marc Paolella

They have... forever. It's in their interest to respond in a timely fashion. But there is no obligation to act quickly, or at all. If it's rented, it may be a short sale. If that's the case, multiply forever by a factor of 3.1416.

This