If is a short sale, depends on the listing agent and how many offers did he get for that property? Normally, it could be three to four days.
And, finally if is a regular sale, you could have an answer in 48 hours if you stipulate that in the sales contract.
Best of Luck,
Larry Hodel, Realtor (909) 210-6355
First Team SnS Real Estate
As typical a seller can take as long as needed to come to a decision, unless there was a time frame submitted with the offer. Homeowners typically take the least amount of time to respond. Foreclosure properties usually take up to 10 days or longer and short sales can take up to 8 weeks and beyond.
Good luck, and work with your agent to see what type of time frame you are looking at.
If you have any other questions or need any other advice, please feel free to contact me at Love2listyou@yahoo.com or at the telephone number below.
Unfortunately, if this is a Short Sale offer, it usually take longer to get a response. Being the 1st one to submit an offer is not a major factor to increase your chance on being accepted. It is more about the price, term, completeness and legiblity of the offer. This will increase your chance on offers being accepted. However, I know the frustration because many Short Sale listing agents don't respond back. I would suggest that you do not put all of your hopes in any one short sale because altimately, it is up to the investors holding the note. If you have other questions, you can reach me at (626) 715-0992
A short sale situation would make the offer contingent on the bank approving the sale price. The seller has the right to accept or reject the offer but the bank still has to have the final yes or no.
If this is a bank owned property sometimes a little patience can pay off with a big return.
If this is Mr. Seller with equity, if you were in his shoes, you probably wouldn't take the first offer either & would want to give it a good week min. of marketing to try to procure THE highest & Best Net for yourself.
Has your offer expired? Regardless, not returning phone calls with the status of your offer is an all-to-common problem. Before I became a broker I used to ALWAYS call the seller directly when his agent wouldn't respond to my calls.