Home Buying in Sherman>Question Details

Lymer, Other/Just Looking in 83101

How many days does a seller have to respond to an offer on their house?

Asked by Lymer, 83101 Mon Jun 7, 2010

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8
That depends upon the contract offer. When you make on offer on a property you can stipulate how many days the seller has to respond. Do your self a favor. When you decide to purchase a house, choose a qualified agent to be your buyer's agent. He or she will walk you through the entire process and answer every question you have along the way. Good luck,

Phillip Baird
Realtor
Austin Real Estate Shop
phillip@austinrealestateshop.com
512-289-5738
1 vote Thank Flag Link Mon Jun 7, 2010
Dear Lymer:

We know of no limit in NYS.

Usually a buyer will grow tired of the wait after a few days and move on unless there is a valid reason for the delay.

Best regards,

Bonnie Chernin and Dave Rogoff
Fillmore Real Estate Br#19
2926 Avenue J
Brooklyn, NY 11210
917-593-4068 (David Mobile)
646-318-5031 (Bonnie Mobile)
davidrogoff@fillmore.com
0 votes Thank Flag Link Wed Nov 17, 2010
In real estate, "time is of the essence." For the protection of both buyer and seller it is best not to have offers open ended. If a seller drags his feet in responding, a buyer may continue to look at other properties and ultimately withdraw the offer, particularly with so much inventory on the market. Buyer could then proceed with a new offer. Again, it is best to keep the offer moving forward for the protection of both parties. A seller might entertain another offer from another buyer, if there is no timeline in the offer.
Web Reference: http://BestAgentTN.com
0 votes Thank Flag Link Wed Nov 17, 2010
Unless, buyer inserts time limit within which to respond their offer , seller has indefinite time to respond to offer, unless its withdrawn any any time prior to acceptance.
0 votes Thank Flag Link Wed Nov 17, 2010
A seller has as long as contract allows to respond to an offer on their house. If they are a motivated seller they typically respond within 24-48 hours. However, as buyer consult with your agent about how long that you as a buyer are willing to wait for the seller to respond. In the contract there is a way stipulate how long your offer is good for.

Good Luck !
0 votes Thank Flag Link Fri Nov 12, 2010
This is really up to you. I keep reading comments about State to State, but no contract should be left open ended. You can give them a small window such as 12 hours or a longer. Truly try to get your agent to find out the circumstances of the seller. Short sales and bank owned are a different entity all together.

You then can also always run into the seller that just doesn't care about dates and does his/her own thing. Remember you can withdraw and move on should you desire.
0 votes Thank Flag Link Fri Nov 12, 2010
Your offer should have set the time frame. If not, you should retract the offer and submit a new one with a definite time limit - expressed as "by 6:00 PM on Tuesday, November 11, 2010".

Otherwise the seller can come back at any "reasonable" time letter and accept your offer. This is where things can get ugly. Let's say that it's 2 weeks later. You gave up and put in an offer and earnest money on another house. You no longer want the first house but you can be sued for something called specific performance.

ALWAYS put a time limit on your offers. Anyone who doesn't is asking for trouble.
0 votes Thank Flag Link Tue Nov 9, 2010
Lymer,

When you are ready to purchase a home I suggest you hire a Buyers Agent and they will put together an offer with the expire date and time as the seller should provide you with an answer whether it be accepting your offer or rejecting it. If you are in unfamiliar waters hire a professional that will make sure your interest is protected. Hope this helped.
0 votes Thank Flag Link Mon Jun 7, 2010
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