I signed one addendum a week and half ago. It was the change from 30 to 21 days for closing. When my agent told me that the listing agent said there was an offer higher than mine, I decided not to offer more without an actual counter offer. I love the house, but I don't want to get so caught up that I offer more than it's worth. - Sun Apr 13 2008, 17:19
The listing is still in active status. Since the realtor told me that my check for earnest money would not go to the title company until my offer is accepted, the agent still has it. I'm simply wondering what is taking so long. I've never waited this long before on a property. I would think that if they have a higher offer, they would accept it and move on. - Sun Apr 13 2008, 16:47
The bank has not accepted my offer, so we have no contract. I believe they can continue to accept offers. My check for earnest money has not been cashed. I was told by my agent that it would not be put into escrow until my offer is accepted. Since I've never tried to buy a reo before, I'm not certain what to expect. I'm thinking I should have put an expiration clause in the offer.
From the time a reo goes on the market, how long is it before a bank typically accepts an offer? - Sun Apr 13 2008, 15:56
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.