K R, Home Buyer in Oakdale, CA

We made an offer and bank countered we accepted within a few hours. We havent heard anything yet but it has

Asked by K R, Oakdale, CA Thu May 29, 2008

only been 24 hours but the house now shows as pending on mls. listing agent said the paper work would be back in 24 48 hours. Should the house be showing pending due to our offer we accepted or could that be someone else?

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4
Pacita Dimac…, Agent, Oakland, CA
Thu May 29, 2008
Did the bank's counter offer specify that it is a multiple counter offer, meaning they're countering other offers besides yours? If so, and if the other buyers also accepted the counter offers given to them, there's no guarantee that it's your offer that was accepted. Your agent has to confirm with the listing agent whose offer was accepted.

But if the bank's counteroffer was only to you, and you accepted and received acknowledgement that your acceptance was received (this can be confirmed by fax indication that the fax went through, or if emailed, that the email was delivered and read), then you may be the successful buyer.

But your agent is your first resource to get the answer.

Hope you got it!
0 votes
Todd Norsted, Agent, Maple Grove, MN
Thu May 29, 2008
KR.......it really could be either. Have your Buyer's agent get on the horn with the listing agent. The squeaky wheel gets the grease! You do deserve a timely answer!

Thanks, Todd Norsted
Web Reference:  http://www.toddnorsted.com
0 votes
Frank Diaz, Agent, Honolulu, HI
Thu May 29, 2008
It depends on your MLS rules. You typically have 1-3 days to change the status for MLS listings.
Are there multiple offers? If so, perhaps other agents accepted the offer as well and the bank will review them. Put on a good movie, grab some popcorn and relax. Hope you go to escrow.
0 votes
Lenny Frolov, Agent, Brooklyn Park, MN
Thu May 29, 2008
That is fairly typical. The listing agent knows the deal will come together even though the bank has not signed off on it. It can take a while to get all of the documents signed by the seller. It is most likely your offer that is the reason it shows as pending.
Web Reference:  http://www.lennyfrolov.com
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