Home Buying in Northport>Question Details

Lf, Home Buyer in Wading River, NY

why is the seller taking so long to get back to us on our offer?

Asked by Lf, Wading River, NY Tue Dec 6, 2011

We put in an offer on a house. The sellers agent came back to us and said there was an offer already on the table for more the what we offered. We then countered w/ a higher bid. They came back again and said that they were going to go w/ other bidder as our bid was not a high enough number. So we then went back w/ a higer bid (topping off at $470,000.) now we have not heard anything back for alost 2 days now. Does this mean that there is not another bidder or that they are waiting for another offer possibly?

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You should contact the broker/owner of the Listing agent's office as it seems they are using your offer to increase an offer by one of their buyers. If they do not get back to you, have your agent contact the Board in your area and they will ensure that your offer is presented and you get a counter.

Marco Gomez
NY state Associate Broker
Keller Williams Landmark II
Marco.gomez@gmail.com
1 vote Thank Flag Link Fri Dec 9, 2011
Like Annette said,
"they were going w/other bidder..."
That means that the Agent hung up on your call, and called the "other bidder"; he would have a written acceptance in his hand, and their Contract was started.

If you were the "other bidder", what would you do if you had been told YES, and then, a day later, he came back and said that you didn't get it?

It is time to move on.

Good luck and may God bless
0 votes Thank Flag Link Wed Dec 7, 2011
I would ask your attorney to f/u with their attorney to see what the hold up is and if you have to counter offer again, I would give a 2-3 day max on the reply. There are many possibilities, but I wouldn't waste time trying to figure it out. Have your Atty apply some pressure on their atty.

Remember this is a buyers market and you are most def in the drivers seat. Don't get too emotional as there are sooooo many deals out there and if this falls thru, you will most certainly find another home that suits your needs!

Keep us posted and good luck!
0 votes Thank Flag Link Wed Dec 7, 2011
impossible to answer I'd say. but you should have to guess. your realtor should contact the listing agent and then the listing agent's broker if need be. qualified offers should be responded to within 24 hours on a general basis, but that is merely an unwritten rule.
0 votes Thank Flag Link Tue Dec 6, 2011
Hello,

Home buying requires successful negotiations with the seller. Presenting an offer with multiple offers can be challenging. A buyer’s agent can follow up with the listing agent to find out what is happening when there is a delay in response from the seller. There can be many reasons why a delay occurs.

If the seller accepts another offer, the buyer can present a back up offer. Your agent can prepare and send a back up offer over to the listing agent. Even if the seller chooses to not consider a back up offer, the listing agent will have the back-up offer in the file in case the original offer falls apart.

Real estate negotiations require good communication and patience. Prepare the best offer that you can and hope for the best. If his home doesn’t work out, there will be another home on the market that will. Best wishes in your home search!

Thanks,
Carol Perdew
Prudential California Realty
(209) 239-7979
Carol@PerdewHomes.com
http://www.CentralValleyHomes.com
DRE 985176
0 votes Thank Flag Link Tue Dec 6, 2011
Hi Lf, it could be anything..terms and condition, down payment, closing date, cash vs mortgage/loan, subject to home inspection etc etc..
I am not sure if you have your own agent representing you, however next time hire a Realtor to represent you, and your interest..
Ask 1st buyer's contract signing status, if signed and when...Good Luck
0 votes Thank Flag Link Tue Dec 6, 2011
If you don't have an agent of your own, consider the idea for any other future real estate dealings; ask the agent for an update, it could many many things...
0 votes Thank Flag Link Tue Dec 6, 2011
If your description is correct they have responded.
" They came back again and said that they were going to go w/ other bidder"

It appears as though you ignored this statement and submitted another bid. Now, your actions are an attempt to derail the 'other bidder' in what may indeed be an already signed and accepted contract. As Scott pointed out, there are many ways to add more value to an offer, but coming in too weak initially often results an unflattering label on your subsequent offers culminating in the experience you are sharing today.

Ask about a back up position if this is the home you really want.
Best of success in buying your new home.
0 votes Thank Flag Link Tue Dec 6, 2011
This could mean many things. If you do not come out successfully on this bid, please get a Realtor to represent your interests instead of dealing with the listing agent. You are entitled to representation.
0 votes Thank Flag Link Tue Dec 6, 2011
The only person that knows is the listing agent, if you have a buyers agent have them contact the listing agent at once, if not you need to contact the listing agent. What makes an offer good is not just price. Hopfully you included a preapproval letter so they know you are quailified for a loan hopfully you linited or did not include any contingincies. If you added an inspection, use 7 days or less as a date for it. Good luck
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Tue Dec 6, 2011
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