Home Buying in Chicopee>Question Details

Bobbi5737, Home Buyer in Chicopee, MA

When a person makes a second offer on a house that is known as the bottom line offer. Why does the seller take so long to answer?

Asked by Bobbi5737, Chicopee, MA Tue Apr 2, 2013

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BEST ANSWER
Is the seller a bank? They love to take forever and usually pay no regard to any offer expiration dates. Buying and selling homes can be a very emotional process...try and relax and keep calm, it will improve the way you play the game...
0 votes Thank Flag Link Tue Apr 2, 2013
They waited till the day after the expiration date but they accepted! Yay! It turns out that the property had multiple investors and they had to get agreement from all them. I wish that the listing could have stated that so it would help take your mind off the waiting game! But all is good in the end! Thanks for you nice response.
Flag Wed Apr 3, 2013
It is called a best and final offer. Next time put and expiration date and time on that verbal (or in writing) counter offer and you should get a quicker response. There are many reasons a seller could be taking their time. They could be shopping the deal around to other interested parties, taking time to think about the price and if they want to respond with another number or take your price.

Good luck!

Territory.com
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0 votes Thank Flag Link Sat Apr 6, 2013
Hi Bobbi5737,
So it seems that you have made a counter to a counter.
Maybe the new offer is still not what they are looking for.
Sometimes no response is a response.



(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
0 votes Thank Flag Link Tue Apr 2, 2013
The seller may be taking time to process the offer or they are negotiating with another party as well..

Chris
0 votes Thank Flag Link Tue Apr 2, 2013
You should talk to your buyers' agent, if you do not have one, get one, it does not cost you anything and he/she can guide you and answer questions like this and re present you. Without knowing your specific situation nor the sellers we can not tell why the seller takes so long. However, all offers should have an expiration date on them. If yours had one and you have not heard from the seller that may be an answer in itself. You can to to your agent, again if you have one, or approach the sellers if you are working directly with them. Good luck
Web Reference: http://wenrealty.com
0 votes Thank Flag Link Tue Apr 2, 2013
You should have set an expiration date on the offer. That way, once the date passed, the offer expired.

There's no requirement or obligation that any seller respond to any offer. Strategically, they should, but it's up to them.

Incidentally, a second offer isn't necessarily the bottom line offer. I know people who've made 4 or 5 offers on the same property.

Hope that helps.
0 votes Thank Flag Link Tue Apr 2, 2013
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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How long have you been waiting for an answer? When you submitted your best and final offer did you attach an expiration date and time to that offer?
0 votes Thank Flag Link Tue Apr 2, 2013
There is a time limit set on the offer. Buying or selling a home is a big purchase and people need time to consider.


The spring market is when most people list their homes. Many houses are about to com onto the market so if you get a rejection or another counter you should wait and see what elese comes up for sale.


http://www.realliving.com/Christine-Moran-Real-Estate-Agent
0 votes Thank Flag Link Tue Apr 2, 2013
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