how long does it take the seller to sign the contract after accepting buyer offer?

Asked by Caden R, New York, NY Sun Mar 6, 2011

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The Pierre Team’s answer
The Pierre T…, Agent, Fresh Meadows, NY
Wed Mar 21, 2012
It all depends Caden, but a reasonable time frame is around three to four business days. Anything longer than that without a valid reason I would start looking for something else because if they are flakey in the beginning they are going to be flakey in the end at least that’s my opinion.
2 votes
The Deswal G…, Agent, Great Neck, NY
Mon Mar 7, 2011
Standard practice should dictate a turnaround time of 3-5 business days. If it's taking longer then I would ask your Attorney and/or Agent for the reason. We all lead busy lives so the timing can be stretched but please make sure that the seller is not up to something. Good luck and hope everyting works out for you.
2 votes
Randy Schwei…, Agent, Sarasota, FL
Sat Mar 12, 2011
Your question just popped up even though it is a week old. Sorry for the delay. As was pointed out there is no contract until both buyer and seller sign the document. Most buyer agents will put a time limit in the offer after discussing with the listing agent. In Florida, our sellers may be living in another state or country and that can take more than 1-2 days, which is what I suggest with my buyers.

The first step should be to ask your agent and find out if they have spoken to the seller's agent. We 3rd party realtors don't have the facts nor did we write the contract for you. I hope you have an acceptable answer from the seller by now.

Randy Schweitzer
Coldwell Banker
Sarasota, FL
http://www.YourRealtorRandy.com
1 vote
Gail Gladsto…, Agent, 11743, NY
Mon Mar 7, 2011
Once the contract is signed, the buyer's attorney sends it to the seller's attorney.

The seller then meets with their attorney to go over the contract (the seller has not seen it before this moment) and sign.

Find out when your attorney actually sent it out and by what means (faxed? overnight? snail mail)?

If you have concerns, certainly have your attorney call the seller's attorney and question it.
Web Reference:  http://GailGladstone.com
0 votes
Nirmala Cara…, Agent, Bronx, NY
Mon Mar 7, 2011
Caden,

It takes appr. 2 - 5 business days to have a contract signed once an offer has been accepted. I have seen contracts take longer if the sellers or attorneys are on vacation or out of town. If it is a short sale it will take between 1 - 6 weeks depending on the bank. You should contact your attorney or agent to follow up.
0 votes
Christopher…, Agent, Methuen, MA
Sun Mar 6, 2011
Time is of the essence in real estate deals. Both parties should try to move forward as fast as possible by the dates agreed upon. If you have a verbally accepted offer and you are waiting for your written offer to be signed by the seller, they should try to get that back to you as soon as possible. You don't really have an accepted offer until it is in writing by both parties. If they are taking too long to get it back to you after verbally accepting it then something maybe wrong and you should have your agent find out what is going on. However, if you are dealing with a bank owned property it may take a longer amount of time to get the signed offer/contract back from the bank (3 to 4 business day response time is not unusual for banks).
Web Reference:  http://teamlefebvre.net/
0 votes
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