How long does a buyer have to wait once resubmitting highest and best offer??

Kym2
Home Buyer
33983

Answers (4)
Ralph & Tricia...
Agent
Gilbert, AZ

If you are trying to buy a foreclosure you are at the mercy of the bank and, unfortunately, they write their own rules. They do not have to follow any of the protocol that Realtors try to adhere to.
So to make a long story short
WHO KNOWES http://www.RalphandTricia.com

Thu Sep 3 2009, 14:59
Kay Pearson
Agent
Jensen Beach, FL

There is no specific time that can be provided that will answer your question. That is true, whether it is a bank owned home or privately owned.

Although most offers are submitted and/or presented at the first opportunity the Realtor and seller are availalbe, there are various reasons that interfere with that opportunity.

The time lapsed has not been provided here. Therefore, offers could still be presented to the seller and if that is happening, one might assume that no offer has yet been acceptable to the seller. If that were the conclusion, you should consider if you have indeed provided your highest and best. If not, submit an improved highest in best. If that is not an option, you should have additional property choices ready in case you are not the chosen offer, be patient and hope for the best.

Best Wishes!

Kay Pearson, CRS
Associate Broker
Nettles Coastal Realty
Jensen Beach
248-860-0366
kay@nettlescoastalrealty.com

Thu Sep 3 2009, 06:07
Bill Eckler-Flo...
Agent
Venice, FL

This is determined by the bank, how many parties are involved, and the time provision set by the bank but is normally one that can be completed in a fairly short time period.

Thu Sep 3 2009, 03:32
Sherrie A Gardn...
Agent
Fredericksburg, VA
FIRST ANSWER

Normally the listing agent will get back with you as soon as the buyer and bank agree to the offer then they sign the contract and would send that to you the buyer.

I would estimate 1 to 12 hours it really depends on the listing agent and if they are able to quickly and easily be able to contract you back.

Wed Sep 2 2009, 22:23

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