Question Details

debleo75, Home Buyer in Rockdale, IL

My Husband And I recently made an offer on a home, what kind of timeline can we expect to hear on our offer?

Asked by debleo75, Rockdale, IL Fri Mar 2, 2012

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Answers

4
Ask your agent.

1. If it is a traditional sale with a seller who lives in the home, you should expect to hear from them within 48 hours. Their Realtor and your Realtor will be in communication within the first few hours of your offer.

2. If it is a Short Sale or Foreclosure-- then expect it may take a week to a month to hear whether they are accepting or rejecting your offer.

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0 votes Thank Flag Link Fri Mar 2, 2012
It is hard to say. If it was a regular home owner who can be found and is not on vacation or traveling, etc it normally takes a day or two at the most. If it is a REO or bank owned home it could take a week. Many sellers laugh at time frames or deadlines added to offers and look at them as pressure tactics designed to rush a seller. If the offer is low and not worthy of a counter many of these sellers just ignore the offer since they claim they will be null and void in 12 hours or 1 day or whatever the deadline is. Have your agent contact the sellers agent every day for an update.
0 votes Thank Flag Link Fri Mar 2, 2012
We Have until the end of April to be out the rental we are currently in, Our realtor put April 27th I believe as a closing day? I am new to this so forgive me if I sound Naive.....
0 votes Thank Flag Link Fri Mar 2, 2012
Did you put a timeframe in the offer to purchase? Typically, the seller should get back to you within 24 hours. It's always good to include an expiration date on an offer to purchase to prevent the seller from holding out on a response.
0 votes Thank Flag Link Fri Mar 2, 2012
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