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In Atlanta we would make an offer on a distressed property that's been on the market for years. We'd hear back "We have a better offer". Felt like an attempt to get us to raise or offer. Too suspicious.
Yes, this happened earlier on the same property.
I wanted to bid a few weeks ago, but my buyer's agent called me after talking to the seller and they said there already was an offer on the house. I waited 2 weeks and nothing changes on Zillow or other sites about the status, so I put an offer in.
Makes no sense and you didn't ask the right questions. After he said he thought your offer wasn't accepted, did you ask him what made him think that and what the listing agent specifically told him? I assume there was a deadline in your contract that the offer was being extended for hours, days, etc. - If you don't have an accepted offer within that time and no communication from the listing agent to your agent, then no, your offer was not accepted.
But your agent should know exactly what happened and if he doesn't know, you should look for a more competent agent.
Makes no sense and you didn't ask the right questions. After he said he thought your offer wasn't accepted, did you ask him what made him think that and what the listing agent specifically told him? I assume there was a deadline in your contract that the offer was being extended for hours, days, etc. - If you don't have an accepted offer within that time and no communication from the listing agent to your agent, then no, your offer was not accepted.
But your agent should know exactly what happened and if he doesn't know, you should look for a more competent agent.
Not all states have deadlines in their offers. In Texas we don't. Goes to contract law. Until all clauses in a contract are agreed to and signed off on by all parties, it isn't a contract and NONE of the clauses in it are in effect. What works best here is a nice cover email asking for a prompt response based on a valid reason (not "I'm afflicted with the Immediate Gratification Virus that is plaguing the land", but a real reason). Writing a deadline into special provisions is likely to make the seller feel like the buyer is someone who will pressure them on things all the way through the deal and more likely to get the offer rejected.
But until the Seller accepts and SIGNS, the Buyer can at any time withdraw their offer.
I would always put a reasonable expiration on the offer, like 48 hours, and they are free to accept or counter after that, then it will be my decision to proceed...was also advised to do that by a few of the better agents. Then, you can tell the seller, you have multiple sales offers, please submit your lowest and best, lol. it is somewhat shocking to see how lackadaisical some agents are, and you can bet they will be the first ones to play the sense of urgency game. Most seem to have several devices capable of mobile calling or email. Seen a 20% penalty in many jurisdictions for missing the property tax deadline by five minutes...
I would always put a reasonable expiration on the offer, like 48 hours, and they are free to accept or counter after that, then it will be my decision to proceed...was also advised to do that by a few of the better agents. Then, you can tell the seller, you have multiple sales offers, please submit your lowest and best, lol. it is somewhat shocking to see how lackadaisical some agents are, and you can bet they will be the first ones to play the sense of urgency game. Most seem to have several devices capable of mobile calling or email. Seen a 20% penalty in many jurisdictions for missing the property tax deadline by five minutes...
No need for an offer expiration in a state that allows recission of offers.
I wanted to bid a few weeks ago, but my buyer's agent called me after talking to the seller and they said there already was an offer on the house. I waited 2 weeks and nothing changes on Zillow or other sites about the status, so I put an offer in.
Why are you letting your agent get away with this? My response would have been "Don't 'think', find out. It's a Yes or a No question. Was my offer accepted?".
No need for an offer expiration in a state that allows recission of offers.
This exactly. In Texas since we don't have deadlines for the reasons I gave earlier having to do with contract law, we have TXR 1945, Notice of Withdrawal of Offer. If you have a buyer who is afflicted with Immediate Gratification Syndrome, you can have them sign that at the same time they sign the offer and hold it. You can withdraw orally and then follow-up with the written confirmation, or simply withdraw in writing. Avoids annoying the seller before they've even looked at your offer. Could be that two offers come in, yours is a little bit higher, but because one of the terms of yours is that the seller respond on your timeline, they choose the other.
Seems like it would be easier to put an expiration on the offer, eliminating the need to properly serve the second document.
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