U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 05-21-2013, 02:32 PM
 
Location: Asheville, NC
12,164 posts, read 28,090,754 times
Reputation: 4921

Advertisements

Once the offers come in, I'd like to try and make it through the weekend for other offers. What's the longest time I can put on the offer for a response?
Quick reply to this message

 
Old 05-21-2013, 03:07 PM
 
2,965 posts, read 5,863,870 times
Reputation: 6513
If you are the seller- the buyer sets how long the offer will be valid. I would not make an offer valid for longer than, say, 48-72 hours.
Quick reply to this message
 
Old 05-21-2013, 03:56 PM
 
Location: DFW - Coppell / Las Colinas
35,981 posts, read 39,720,712 times
Reputation: 43115
How long can you afford to stall a serious buyer before he gets mad and continues to find a better house with a more serious seller ?
Quick reply to this message
 
Old 05-21-2013, 04:02 PM
 
4,567 posts, read 8,997,411 times
Reputation: 6661
The buyer submits an offer to you and in the contract it might say "offer valid for 24 hours" So you would have 24 hours. Pretty simple.
Quick reply to this message
 
Old 05-21-2013, 04:04 PM
 
Location: DFW - Coppell / Las Colinas
35,981 posts, read 39,720,712 times
Reputation: 43115
Quote:
Originally Posted by 399083453 View Post
The buyer submits an offer to you and in the contract it might say "offer valid for 24 hours" So you would have 24 hours. Pretty simple.
If I can't get a response from a seller within 12 hours, we are probably going to go find another home.
Quick reply to this message
 
Old 05-21-2013, 04:11 PM
 
Location: AL for now
336 posts, read 1,394,617 times
Reputation: 343
Thumbs up One alternative... may be too late for you?

When I listed my home (on a Wednesday), my agent put a statement in the remarks that the seller would review all offers that Saturday. So, buyers and their agents knew going in what the time frame was. When I went to my agent's office Saturday, we reviewed all the offers, countered the best ones, and rejected the others. To my knowledge, no one had a problem, or if they did, I didn't hear about it.
Quick reply to this message
 
Old 05-21-2013, 05:05 PM
 
5,048 posts, read 7,646,427 times
Reputation: 4165
Quote:
Originally Posted by AnotherBravesFan View Post
When I listed my home (on a Wednesday), my agent put a statement in the remarks that the seller would review all offers that Saturday. So, buyers and their agents knew going in what the time frame was. When I went to my agent's office Saturday, we reviewed all the offers, countered the best ones, and rejected the others. To my knowledge, no one had a problem, or if they did, I didn't hear about it.
Even if this might be currently not so common in an area, try it. I think enough people have seen this on the tv real estate shows to be familiar with it.

Such a statement will also get people thinking...multiple offers...better make my best one.
Quick reply to this message
 
Old 05-21-2013, 05:09 PM
 
Location: Martinsville, NJ
6,162 posts, read 11,675,603 times
Reputation: 3969
Quote:
Originally Posted by cully View Post
Even if this might be currently not so common in an area, try it. I think enough people have seen this on the tv real estate shows to be familiar with it.

Such a statement will also get people thinking...multiple offers...better make my best one.
Yes, some people might absolutely think that way. Be cognizant of the fact that some people will instead think, "ohh, multiple offers. I'm out."
Quick reply to this message
 
Old 05-29-2013, 11:45 PM
 
936 posts, read 1,934,327 times
Reputation: 938
Your area may be different, but in ILL it's not common to counter on more than one offer simultaneously because more than one buyer may accept your counter offer. You'll then be fighting two buyers who both claim to have an accepted offer on your house. Not a good idea.

Somehow this idea of sitting on offers has turned the negotiation process into the wild west.
Quick reply to this message
 
Old 05-30-2013, 06:22 AM
 
2,965 posts, read 5,863,870 times
Reputation: 6513
In a hot market I wouldn't be a buyer. However- I don't see a problem with making it known that all valid offers will be considered at a particular time.

As far as countering more than one offer...I don't see how that could be done...ethically, legally, or practically.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top