Agent2Agent in 60089>Question Details

G.A., Other/Just Looking in 60004

HOW LONG IS AND OFFER TO BUY VALID?

Asked by G.A., 60004 Sun Nov 1, 2009

if you make an offer on a property how long is it valid if no counter is made?

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Answers

5
An offer written in Illinois, is valid for as long as you "write in".

You can write your contract with a deadline... (ie: offer expires Friday at 5:00), or you can put no deadline in the contract, and verbally withdraw the offer, when you desire.

If you've given them no deadline for a counter, a call is in order, to the listing agent... to find out when you can reasonably expect a counter... or to verbally install a deadline (ie: If we don't hear back by 5:00 tonight, we're withdrawing the offer).

Good luck.
0 votes Thank Flag Link Sun Nov 1, 2009
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
Good Morning,

It depends on the contract in California in it is 3 days from the
specified in the contract . Again if the Seller is out town you will
extend the contract subject for signing an Addendum per Sandra
mentioned........
0 votes Thank Flag Link Sun Nov 1, 2009
In Arizona an offer expires at the time set in the contract. If there is no counter offer and the time set expires it is a dead offer. It can be extended by addendum or counter offer if the reason it expired has to do with being unable to contact either party. But, in reality, that offer expires at the time set in the contract.
0 votes Thank Flag Link Sun Nov 1, 2009
Hi G.A.,

I like to make the offer until 5pm the next day, whether it's a weekend or not. When my buyers want to purchase a home, I show that they are serious and committed, ready to go. Why wouldn't a seller be able to answer us within 24 hours? If I make the offer early in the day, I'll make sure it expires by 7p that same day.

Short sales, foreclosures and bank-owned properties do not fall into this category.

Time is of the essence in real estate. Keep your time requirements short and concise.

GOOD LUCK,

Scott Miller, Realtor®
Estate Specialist
Commercial RE
Business Broker
Realty Associates
561-716-4060 direct
561-451-9377 fax
http://www.LoveBoca.com
http://twitter.com/ScottSellsFL
0 votes Thank Flag Link Sun Nov 1, 2009
If you make an offer here in PA, on the first page of the agreement of sale there is a time frame stated when the seller needs to reply to your offer otherwise it becomes void. I would think it also is stated on an agreement of sale in your area but you might want to contact a local real estate agent if you are not already using one.



Sean Dawes
0 votes Thank Flag Link Sun Nov 1, 2009
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