Home Selling in 33156>Question Details

Kathy Ambros, Home Seller in 33156

How long usually until offer is made?

Asked by Kathy Ambros, 33156 Tue Sep 25, 2007

We had our Open House ourselves. They had seen our realtor sign and realtor directed them to ouropen house. They loved the house. In fact as I was closing the door I heard them saying "Well its unanimous!" That was Sunday. How longuntil most people make an offer?

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Answers

18
You never know. Just because they like it, doesn't mean that they aren't shopping around. Buyers are like that in this market. They may be waiting for information from their agent regarding market comps so that they know what to offer. When they are interested, you will know. there's no set time frame.
You mentioned you have an agent. Did you get the contact information for your potential buyers? Have you agent reach out to them. If not, are they working with an agent? Did you get that person's name? Have your agent call their agent and see what's going on.
Web Reference: http://www.dianeglander.com
1 vote Thank Flag Link Tue Sep 25, 2007
That is totally up to them, but usually if they found the house they wanted, an offer is pretty quick. They are probably working out the particulars of the contract. There can be many more things in the offer than just the price, such as closing date, closing costs, repairs, inspections, etc which they could be discussing with their realtor. I know it is hard to be patient, but when the realtor and buyer have come to the conclusions about their offer, you will be contacted. All offers must be presented in the state of FL.
1 vote Thank Flag Link Tue Sep 25, 2007
Kathy - I wish there was an answer. Some people have their Realtor draft the offer right away, others take a while to really decide. Maybe their Realtor is making sure all their paper work is ready including a pre-approval letter from their lender. Either way, good luck and hope it happens soon!
1 vote Thank Flag Link Tue Sep 25, 2007
That is very tough to say, but if you don't hear from them in 3-4 days, it's highly likely that they changed their minds. I have seen people get very excited about a house, and then disappear. It happens more and more in this market.
It could be that they are working out some financing issues, etc...who knows..now, your Realtor should be following up with each prospect, and finding out exactly where they stand. So I would ask your Realtor to contact the other Realtor and find out what's happening, or what's not.
Good luck!
1 vote Thank Flag Link Tue Sep 25, 2007
you are assuming that they liked your home ... you may be wrong. the first few weeks get all the home lookers. that doesn't mean there will be a sale.
Web Reference: http://www.LAHomeSearch.com
0 votes Thank Flag Link Wed Apr 23, 2008
When an agreement has been made between the buying couple and they have been qualified, an offer is usually rec'd within 24 hours.
0 votes Thank Flag Link Wed Apr 23, 2008
If the Buyers are preapproved for a loan and you have a Property Disclosure and all important documents either available online or within the packet, the process should not take more than a day or two to get an offer.
0 votes Thank Flag Link Wed Apr 23, 2008
The lower the price, the greater chance of getting an offer quicker. It is all about price and the marketing plan your realtor employs that will maximize your exposure. Buyers in this market are looking for below market value only. Those are the properties that sell.
Also keep in mind that there is a tremendous amount of inventory you are competing against. Hence, price is key.
Email me with amy any questions pheller@bellsouth.net
0 votes Thank Flag Link Wed Apr 23, 2008
Kathy, In a buyers market it's hard to answer that question. Unless your property is the best value to that particular family, they might wait before placing an offer. Remember the inventory is over 40,000 properties for sale in Miami-Dade and the chances of finding another great deal two blocks away are very high. What you heard could be interpret both ways. "Well its unanimous!" the house is the one or "Well its unanimous! the house is over priced. The key to selling fast is only one PRICE. Good luck.
Web Reference: http://www.ForSaleAgent.com
0 votes Thank Flag Link Fri Apr 18, 2008
Kathy:

It truly depends on where the buyer is in the process. If the buyer is ready to make an offer that usually means they are already pre-approved, they have been home shopping for a few months and are just looking for the right home at the right price. If they are just beginning their home search then it could be a while.
0 votes Thank Flag Link Sun Sep 30, 2007
Hi Kathy,

Why were you hosting your own open house if you have a Realtor? That's kind of odd.

If you have not received anything by now, it's likely an offer is not in the works or that they saw something they liked better shortly after seeing yours. Or, there could be financing issues they are preparing. Or, it could be that they simply aren't ready to buy yet and were 'just looking'.

Really, one could drive herself crazy wondering, so, as the others said, give the sign-in sheet info to your Realtor and have her follow up to get the real scoop.
0 votes Thank Flag Link Wed Sep 26, 2007
Patti Pereyra, Real Estate Pro in Chicago, IL
MVP'08
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An offer should've been made by now. If you have their info, instead of waiting for an offer why don't you write one up and present it to them?!
0 votes Thank Flag Link Wed Sep 26, 2007
Kathy
Owners should never host open houses.
Aside from safety, buyers will not feel comfortable with owners around. Also, owners, trying to be helpful, do not know how to act around buyers and inadvertently turn off buyers.

The other issue I am concerned about is representation. Your Realtor's job is to represent you to the other agents and buyers. Part of that role is have buyers register at an open house (not to mention agents), then follow up by asking them their feedback on your property.

A good Realtor tracks the buyers and the Realtors that have shown your home. He will obtain their comments and find a way to relay them to you in a manner that is constructive. I followed up with on e particular couple for three months. They initially made a low offer, then after three months of fruitless searching, came back with a better offer that my seller accepted. I don't think that would have happened had I not kept in touch with their Realtor.

Good luck.
0 votes Thank Flag Link Tue Sep 25, 2007
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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Not to sound negative, but "it's unanimous" could've been that they didn't like it. Or .... they did, but they liked the next one better

I'm not a fond proponent of you doing your own open house (saftey issues and follow up reasons) but if your agent directed them to your house, then she or he, should be able to follow up and find out what their interest level is.

Their is also that little matter of buyers remorse... they love it now - and if there is no agent there to get them on paper, an hour later, different story.

Please let us know how this turns out for you.



.
0 votes Thank Flag Link Tue Sep 25, 2007
It can be as little as a few hours, several days or weeks. I've worked with buyers who seem to like every house they see and never make an offer.

In today's market, buyers don't have a reason to rush an offer. Something to keep in mind, this buyer might still need to obtain financing or they might need to sell their current home. Visiting your home might have only been the incentive to list their home, and move forward with moving.

Good luck, and try not to get to excited or to down with each potential buyer. If your home shows well and is priced right, it will sell.
0 votes Thank Flag Link Tue Sep 25, 2007
Hi Kathy. Thanks for clarifying that. Did your agent not get the name and telephone # either? It is nice that you are holding an open house even though you are represented by an agent. Just remember, you are a team and there is no his and our open house. Maybe, your agent can give you a few tips for the next open house.
Web Reference: http://www.go2kw.com
0 votes Thank Flag Link Tue Sep 25, 2007
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
MVP'08
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No it was our realtor who directed them to the Open House. I, of course did not get their information and the open house was our own, not through our realtor. I didnt want to be too nosy. Next time I will definitely leave out a contact sheet. Thanks for the fast response.
0 votes Thank Flag Link Tue Sep 25, 2007
Hi Kathy. I agree with the other posts. When the market was hot and we had to content with multiple offers, buyers acted very quickly. These days, buyers take their time. Did you ask these visitors for their contact information? If so, have your agent call them and follow up with them. If you didn't get their contact information, you may want to consider having a guest book at your next open house. Do you know who the other agent was that sent them to your open house (that was by the way very nice). Perhaps you could have your agent contact the other agent and if the other agent asked them to write down their name and telephone # he could follow up with them and ask if they would like to make an offer on your house. This other agent probably does not even know that these people liked your home. Good luck.
Web Reference: http://www.go2kw.com
0 votes Thank Flag Link Tue Sep 25, 2007
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
MVP'08
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