Hopefully you are working with a qualified buyer's agent to help you through the process of purchasing real estate. It is important to have a professional on your side. If you haven't found someone yet, interview a few agents you find through referrals or from this website. Talk over coffee (there is a great coffee shop right downtown Crete!), find out how long the agent has been in the business, what is their background, are they full time, do they know your area of interest, etc. Treat finding an agent like hiring someone to help you with one of the most important purchases in your life (except your are not paying the agent since realtor commissions are typically paid by sellers).
I am located in Crete and would welcome the opportunity to buy you a cup of coffee and learn more about your real estate goals. Check out my website if you want to search the mls - http://snoble.illinoisproperty.com
One of the only limitations on offers that I have seen is with REO properties where they may not allow "investor" offers for 10 days after a property hits the market as they will allow "owner occupied" offers 1st.
I hope this helps!
I have seen some foreclosures in my area where the listing agent has stated that they will begin accepting offers to present to the bank a certain number of days after the property is listed on the MLS. I believe it is to allow buyers to view the property and for everyone to submit their offers within a certain time frame so that the bank has multiple offers all at once to select from.
However; I haven't seen this on any normal homes that are for sale as it really wouldn't be in the seller's best interests to attach a time frame on having offers presented. Most sellers hope to sell as quickly as possible.
Hope this clarifies.
Good luck to you!
Prudential Connecticut Realty
If your own agent told you that, call up that agent's broker and repeat the story to him/her.
If someone else told you that, ignore it.