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Trulia Atlan…, Home Buyer in Atlanta, GA

How much time should you give a buyer to accept a counteroffer?

Asked by Trulia Atlanta, Atlanta, GA Fri Apr 19, 2013

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Danny Nassi’s answer
This is a good question with various answers. There are definitely many circumstances that occur when trying to sell a home. Every circumstance is different. The answer to this question typically depends on the current market conditions (Buyers Market/ Sellers Market), how much interest there is in the home, and whether there are multiple offers on the table. In addition you have to consider the sense of urgency that the "Seller" has to move the property and exit along with how much time the "Buyer" has to purchase.

In any negotiation I think it's important to take your time but also hurry up if that makes sense. If the "Seller" needs to move the property quickly I think it is completely fair that the "Seller" or "Sellers Agent" be honest with the "Buyer" or "Buyers Agent" and let them know exactly what there time frame is to respond to a counteroffer. So for instance if you (The Seller) need to move quickly I think asking for a response within 24 hours is fine. If there is no sense of urgency to sell, the "Seller" always has the option to continue to show the property and wait for a response while generating other offers.

In negotiating a deal it is important to care, but not that much. If a person is a serious "Buyer" with real intentions to purchase a property, they will know exactly how much they want to spend and how quickly they want to respond.

I hope this is helpful, thanks for the question.

-DNassi "The Corcoran Group"
0 votes Thank Flag Link Sun Apr 21, 2013
Thomas - this question is yet another softball from Trulia Atlanta.

I say it depends on price, terms and time, just like all negotiations.

Win/win or no deal. A savvy seller and their listing agent know their time constraints, transaction by transaction.
Web Reference: Http://intowninsider.com
0 votes Thank Flag Link Sun Apr 21, 2013
24 hours should be plenty of time in a normal transaction. A counter offer is only made to tidy up the original offer and it should not take the recipient of the counter offer long to make a decision. Also, until the offer-counter offer has been agreed to by the parties it is possible for the seller to entertain other competing offers. The maker of the counter offer should expect a quick response to the counter offer.
0 votes Thank Flag Link Sat Apr 20, 2013
Usually 24 hours. I would think that 48 hours would be about the max allowed.
0 votes Thank Flag Link Fri Apr 19, 2013
I normally tell my clients the maximum would be 24 hours . you want to get an answer back and be binding within the day if possible . call me Tom Hagan 9545530847 and I'll show you how
0 votes Thank Flag Link Fri Apr 19, 2013
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