Home Buying in Orland Park>Question Details

Monica, Both Buyer and Seller in Homewood, IL

We made an offer on a property stating that our offer expired in 72 hours. During that time the selling agent NEVER responded, why?

Asked by Monica, Homewood, IL Sun Jul 25, 2010

Our offer was fair based on current sales in the area and the condition the home was in. We included our pre-approval letter from a major bank. We felt that if the seller wasn't interested in our offer that we should have at least received a yes or no. Also, we made an offer on a Wednesday with an expiration of 72 hours. We feel the selling agent may have been waiting for more showings and offers over the coming weekend. He let the offer expire without responding. Now we don't know what to do.

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Wayne Beals’ answer
Hey Monica,

This is a good indication that the seller does not find your offer compelling. It may be fair, and based on recent sales, but it's likely not as good as other alternative offers, or may be that the seller is looking for a cash buyer.

Dan Chase is exactly right. No Response usually means no. It is possible that the listing agent is being behaving unethically, but I don't think that no response is evidence of unethical behavior. The list agent is their to protect the interest of the seller. If it's in the interest of the seller to leave you in the dark....then so be it.

It sounds like the situation is upsetting to you. This may indicate that the home is unique or otherwise more desirable than most. Have you considered raising your offer? It may be what the seller is waiting for you to do before they respond. If you'll regret not getting it at the price your offering, chance are your offer is too low or needs other adjustments.

Best of Luck

Wayne Beals
Keller Williams
312-77BEALS
312-772-3257
wbeals@kw.com
FREE RELA TIME MLS SEARCHES AT: http://www.waynebeals.com
Web Reference: http://www.waynebeals.com
1 vote Thank Flag Link Mon Jul 26, 2010
Monica, you put a Dead line on your offer that if not accepted in 72 hours your offer is void. I guess they did not need to respond. If your intention is to meet in the middle, then why play games, give them your best offer! You play games - they play games.
0 votes Thank Flag Link Tue Jul 27, 2010
Sometimes, it just happens that way. it's also possible that the property is already under contract, or the buyer and seller might be under closed negotiations (such that the seller's agent can't accept any offers during that period of time. It's also possible that the seller's agent might have been sick or on vacation. And the list goes on. . . . You can either call the listing agent to get an update on the status, or you could move on.
0 votes Thank Flag Link Sun Jul 25, 2010
Monica,
Maybe they were out of town??? It is summer time. Sometimes these things happen. Although 72 hours IS long enough to get a hold of a seller. I am suprised they didnt even give you a small counter, but it just means they are not interested in going that low. You could try maybe raising your offer 5k to see if that entices them to at lease respond. Best of luck!

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
mlaricy@americorpe.com
708-250-2696
0 votes Thank Flag Link Sun Jul 25, 2010
Sorry to hear that, I have found a lot of unprofessionalism gone unchecked in the industry. The listing agent should have at least let you know that they received your offer. Since they didnt even counter, most likely in their minds you were not close to what they think it is worth. It is an emotional process, both buying and selling. For my clients, I suggest countering all offers, so the listing agent may have suggested that, but who knows.

Bottom line, the listing agent should have communicated what was going on. There is very little you can do about that, and they didnt accept your offer. I suggest keep looking, and if you dont find anything else in couple of months and this is still listed, make another offer. The longer it sits the more likely the sellers may become agreeable with your offer. I would have to think there is another house out there or going to be out there for you.
Best of luck.
Spirit Messingham
Tierra Antigua Realty
520 471-6900
0 votes Thank Flag Link Sun Jul 25, 2010
Thanks for all the responses!

We are working with an agent, my father in law is our agent. He has called the selling agent several times this week, and he either doesn't call him back, or tells him he's waiting to hear from the seller. It sounds like he's making excuses, stringing us along waiting for something better to come along over the weekend. Before we initially viewed the property the selling agent contacted our agent to inform him that the sellers were motivated and that they were willing to bargain the price since the home is very dated and worn on the interior. Even offering a credit for flooring in the contract. They have consistantly dropped the price every month its been on the market, since April. They are currently asking $255,000, we offered $210,000 thinking that there would be a counter offer and we could meet somewhere in the middle. Just seems fishy. Feeling a little agrivated since the last time we put a bid on a house the selling agent called our lender fishing for information on our finances, which we felt was a complete invasion of privacy! Luckily our lender didn't bite! I'm just tired of playing games with these selling agents.
0 votes Thank Flag Link Sun Jul 25, 2010
First thing you must consider is that even though you thought it was a fair offer the seller didn't. Often a seller will just not respond if they feel offended by an offer. Also, did the seller's agent definitely receive your offer. Did the seller's agent make the presentation? You should have your realtor contact the selling agent to see what is going on. This should answer a lot of questions. You may need to initiate a new contract if they did not respond and the time period has elapsed, but this time your offer must be closer to the asking price if all other answers were YES. If you do not have a realtor, my natural question is why not; but, if that is the case then you must contact the seller and ask if the property is still available and if you still want it then begin the contract process again. Many contracts are not turned down because of price but rather because of the terms. So be sure that that was not a consdieration with this seller.
0 votes Thank Flag Link Sun Jul 25, 2010
Are you working with your own agent that you chose and trust? Have your agent call sellers agent for explanation.I have had this happen from time to time usually when offer is low enough to be offensive or not strong enough to be taken seriously by seller. It is VERY unlikely offer was not presented by sellers agent as this is clearly a violation of fiduciary duty and waiting on another offer is not worth the penalty. If so they could have legally strung you along with a counter for more time to consider. Ask for a paper trail if in doubt. There will be some documentation the offer was presented.. Bottom line is that it is the sellers right to not counter or respond at all. If you really want the house write a stronger offer after reconsidering the comps. I would make my best, make it 24 hours and final. If you still don't hear anything move on. Lots of fish in that sea!
0 votes Thank Flag Link Sun Jul 25, 2010
HELLO MONICA,

I AM SORRY TO HEAR THAT YOU ARE HAVING THESE ISSUES WITH YOUR OFFER. ARE YOU CURRENTLY WORKING WITH AN AGENT? IF YOU ARE, YOUR AGENT SHOULD BE FOLLOWING UP WITH THE SELLING AGENT TO GET YOU A RESPONSE FROM THE SELLER ABOUT YOUR OFFER. I WOULD CALL THE SELLING AGENT AND ASK WHY YOU HAVE NOT RECEIVED A RESPONSE. IF YOU DO NOT RECEIVE A RESPONSE FROM THE SELLING AGENT, I WOULD THEN CALL THEIR MANAGING BROKER.

IF YOU HAVE ANY OTHER QUESTIONS OR CONCERNS, FEEL FREE TO GIVE ME A CALL AT 708-646-6533 OR EMAIL ME AT nlathus@yahoo.com

HAVE A GREAT DAY,
NICHOLE LATHUS
MCCOLLY REAL ESTATE
0 votes Thank Flag Link Sun Jul 25, 2010
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