Home Buying in 90280>Question Details

Janeth, Home Buyer in South Gate, CA

How long does it usually take to get an answer on an offer made???

Asked by Janeth, South Gate, CA Thu Feb 26, 2009

My husband and i are 1st time buyers. He got approved for a VA loan...we submitted an offer about a week ago have not heard of an answer yet! so im wondering...whats really taking so long? And also what are the chances of his loan getting accepted? Thanks in advanced

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None’s answer
You should have an answer within 3 days. Is the home bank owned? Usually, bank owned properties as well as commercial properties take a little longer than 3 days. Ask you real estate agent on the status, he or she should be giving you constant updates on the offer. One of the reasons that your offer is taking a little longer may be because they are waiting for better offers to come in or they are undecisive between several offers that they have received. I concentrate in the neighborhood of South Gate, I can help you if you are still looking for a house or anyone in your family or friends.
0 votes Thank Flag Link Tue Jun 7, 2011
Like most people have said on here, it's generally a few days. It could also depend on the way the sale is set up. The sellers could have a date until which they receive offers and then answer back on the offers. You might want to check with your realtor or with the seller to see when you should expect an answer back. Since you're first time home buyers, it wouldn't hurt to consult a few professionals about your offer. http://www.molisserealty.com/hingham-ma-real-estate
0 votes Thank Flag Link Tue Dec 23, 2014
Generally the offer is responded to within 3 days but the sellers may have a certain date they are reviewing offers or need more time to respond. Check with your agent to find out what is happening.
0 votes Thank Flag Link Tue Dec 23, 2014
You should get an answer within reasonable time. That would be within 3 days. If you haven't heard anything back I would call your Agent and ask about it. There is no reason why it should take that long.

Best of luck

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
0 votes Thank Flag Link Mon Dec 22, 2014
The legal default on California Association of Realtors (CAR) forms is on the 3rd day after you signed your offer by 5:00pm. This can be made a longer period or shorter it's up to you. In the scenario of banks and the fact that they are backed up with offers it could be as little as 2 days to as much as 2 weeks and sometimes even more. It's up to you to decide how long you will let your offer be valid. Good luck!
Web Reference: http://BENNYCHAVEZ.COM
0 votes Thank Flag Link Fri May 1, 2009
Hello Janeth. I work in the City of South Gate and there are many homes in the area for sale, but there are many home buyers. It is not too uncommon for a response to take about 1 week. If it takes longer than that the seller might have taken another offer. If you let me know what property you submitted an offer on, I can look it up for you and tell you if it has been sold or is pending. Also make sure you are working with an agent that knows what he/she is doing and how to submit offers. If you have any questions please feel free to get in touch with me.

Dyanna
323.359.7992
0 votes Thank Flag Link Thu Feb 26, 2009
The terms of the contract should indicate how long your offer is "open." If the seller does not respond in that time period, you can consider the offer null and void. Are you being represented by a Realtor? If not, I highly recommend you find someone to represent you and then re-submit the offer if the time period I mentioned above has passed. As a Buyer, having your own representation costs you nothing.

VA Loans should not necessarily cause a Seller any issues as long as you have your pre-approval up front.
Web Reference: http://www.jerrifurniss.com
0 votes Thank Flag Link Thu Feb 26, 2009
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