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Help, Home Buyer in us pa

How long does it take to write up an offer letter to the seller? My agent has taken 2 days

Asked by Help, us pa Thu Dec 6, 2007

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I'm not sure which part of PA you are located, but in Western PA, an actual 10-page written offer to purchase must be signed by the buyer before being presented to the seller. There were a few companies that were attempting to use "offer letters" a few years back, and they are simply not an acceptable method of making an offer to purchase in Western PA UNLESS they accompany the signed 10 page sales agreement.

Without more details, I can't be certain which method you are referring to. In addition, disclosures should be read and signed by the buyer before writing the offer, and a preapproval letter from the buyer's lender should accompany any offer.

Is your agent attempting to obtain disclosures and a preapproval letter on your behalf, so that your offer is solid when presented to the seller? Have you sat down with your agent to review \and sign the 10 pages of the sales agreement?
1 vote Thank Flag Link Fri Dec 7, 2007
What is going in the offer letter? A pre-approval? Have you received one yet? A sellers' disclosure? Is one available for you to review or haven't the sellers filled one out yet? It is too difficult to say for sure how long it takes. It depends on what is going to be included with your offer.

If you are concerned, ask your agent when you think it will be ready/what is the delay? Don't let the communication break down at the start of your negotiations. Good luck.
Web Reference: http://www.dianeglander.com
1 vote Thank Flag Link Thu Dec 6, 2007
In California, good buyers are hard to come by so I think it should be done right away. It will also depend upon how busy is the agent you are working with. If you wrote the offer at night I think the latest it should be written would be by the next morning. The only other hold up would be is if your agent is waiting for a prequalification or preapproval letter to submit with your offer to make it as complete of a package as possible.
0 votes Thank Flag Link Thu Dec 6, 2007
If the agent is a good experienced knowledgeable agent, your offer would be written immediately upon your decision to make the offer.
0 votes Thank Flag Link Thu Dec 6, 2007
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