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Old 06-05-2012, 03:38 PM
 
62 posts, read 169,684 times
Reputation: 20

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I am on day 4 of waiting for a response from the seller to my offer and it's aaaaaagony. I was hoping that if they didn't like my offer, that they could at least counter. The list price they wanted was a little over 70K. I put in an offer only 2K under the list price, I asked for 1% in closing cost, and I offered an earnest money depost higher than the average for my area. My agent put that they have about a week and half to answer on my contract, but after reading a lot of things online it seems that it normally doesn't take that long for sellers to respond. The seller's agent said my offer looked good so I know the seller got it (well I hope they passed it on). I know some of you are experts around here, does my offer look bad? Why haven't they said anything?
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Old 06-05-2012, 03:53 PM
 
Location: Massachusetts
422 posts, read 1,298,106 times
Reputation: 296
Didn't u include a deadline for your offer???
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Old 06-05-2012, 04:05 PM
 
Location: The Triad (NC)
30,237 posts, read 66,770,090 times
Reputation: 35721
Quote:
Originally Posted by only1beebs View Post
My agent put that they have about a week and half to answer on my contract, but...
but... I bet you won't do that again. Huh?
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Old 06-05-2012, 04:14 PM
 
Location: Florida -
9,456 posts, read 11,843,268 times
Reputation: 19210
The fact that the 'seller' didn't reject your offer out-of-hand tends to suggest that they are considering it. Most RE offers have a 2-3 day response deadline. Two problems with the longer period: (1) The 'seller' can simply 'keep you dangling in the wind for a longer period of time; (2) the door remains open for another 'better' offer than yours. Some realtors will use one offer to leverage another offer up/down.

Sounds like you are stuck for the period of the offer terms, but, there is no reason your agent should not be able to get some feedback from the selling agent about what's going on. If the 'seller' does counter your offer, you can (if you want) respond with a counter-counter offer that stipulates a more reasonable acceptance/rejection period.
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Old 06-05-2012, 04:15 PM
 
2,288 posts, read 2,756,958 times
Reputation: 7024
I think, going by what you wrote, its a awsome offer. If I were the seller, I'd jump on it. Your offer is a 100 times eaiser than the one I delt with last year. Only asking 1% would have made me send you flowers! You just had too long of a time stated for the answer, thats all. I'd say you bought a house, unless the sellers are difficult people. Good luck to you and let us know the answer!
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Old 06-05-2012, 04:20 PM
 
Location: NJ
17,579 posts, read 41,324,677 times
Reputation: 16188
Can your agent simply ask the seller's agent what the delay is?
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Old 06-05-2012, 05:39 PM
 
16,256 posts, read 19,037,870 times
Reputation: 14180
You could ask your agent to resubmit the offer and this time put a 2 day deadline on it. She might need to pull the other offer first...some paperwork to say the other offer is not longer valid. then give new offer with same info except deadline either 2 or 3 days out.

I never heard of 1.5 weeks. Not good on the part of your agent.
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Old 06-05-2012, 07:40 PM
 
Location: Oro Valley AZ.
1,024 posts, read 2,421,999 times
Reputation: 1182
A week and a half is a ridiculously long response time for a normal transaction. Your offer is good, but leaves the door open for other offers to come in. You only have your own agent to blame for your angst. Cannot imagine what reason agent would have for this. You made a solid offer, no upside for a 1.5 week response time.
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Old 06-05-2012, 07:48 PM
 
Location: Gorham, Maine
1,896 posts, read 4,577,008 times
Reputation: 1337
A week and a half? Why? Is your agent on vacation until then? I normally give a seller 24 hours when I write an offer for a buyer. If they can't answer by then, they are not motivated to sell.
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Old 06-05-2012, 08:39 PM
 
4,160 posts, read 7,929,287 times
Reputation: 4955
Quote:
Originally Posted by only1beebs View Post
I am on day 4 of waiting for a response from the seller to my offer and it's aaaaaagony. I was hoping that if they didn't like my offer, that they could at least counter. The list price they wanted was a little over 70K. I put in an offer only 2K under the list price, I asked for 1% in closing cost, and I offered an earnest money depost higher than the average for my area. My agent put that they have about a week and half to answer on my contract, but after reading a lot of things online it seems that it normally doesn't take that long for sellers to respond. The seller's agent said my offer looked good so I know the seller got it (well I hope they passed it on). I know some of you are experts around here, does my offer look bad? Why haven't they said anything?
The only thing you haven't mentioned is the kind of loan you are getting and if you are preapproved. As a seller, those make a difference to me. Otherwise, your offer looks very good. I doubt that your financing is the issue, though, or they would have said something. They probably are waiting on another possible offer.
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