After you put in an offer

How long would you wait to hear back? Would you just wait it out as long as you have to? Would you continue to look?

I ask because we have a prospective buyer for our house that has 3 offers on theirs. They have had offers sitting there for almost 2 weeks.

I am wondering what the people that put the offers in are thinking.

As the seller I would worry if I wait too long they could start to walk away.

Thoughts?

Re: After you put in an offer

It really depends what else comes on the market. We are in contract now ( and this was the 5th house we put an offer on). Typically we waited to hear back from the home owner but most wouldnt make us wait for than a few days.

The 4th house we placed an offer on made us wait...hoping to get a higher offer. So we ended up finding another house that came on mls a few days after we put in our offer. We ended up liking the 5th house even more...So we were in negotiation of our contract on the 5th house. Then house #4 came back to us 2 1/2 weeks later trying to continue to negotiate with us and it was too late something better came on the market and we are now in contract.

It just really depends on the situation, the offers, and where you are priced.

There are two homes that just never even really negotiated bc they were looking for full asking price. ( which it wasnt worth) they are both still on the market. THe other 2 had multiple offers and after negotiations took the highest offer ( which took only a few days)

Hope that helps!

But yes, with the 4th house they made us wait too long and something better came on the market and now we our in contract with #5.

Re: After you put in an offer

thats ridiculous- 2 weeks sitting on offers?

every offer we had on our house i replied right away.

I dont understand the hold up with some of these offers- either you want to buy it or you dont OR you want to sell it or you dont.

I understand your frustration

Re: After you put in an offer

I don't get that either. I always responded to offers within a few hours of hearing about them.

Re: After you put in an offer

I think they are waiting for their magic price (listing price or better). Either the offers are to low or they want a bidding war. I am surprised that they have said nothing to the prospective buyers. Are you sure of that? Are you sure they still want to purchase your home? They may be stringing you along to see if other offers come in to your home or to see if you will lower the price since your house has been on the market longer.

Re: After you put in an offer

My understanding is that if they buy ours they want to do a major extension (we live on a good size property for our town) So they are trying to figure out the financing on that. They have been to our house 2x in the last few days once with a contractor.

I think they won't except an offer till they make one.

I just think if I was the one who made an offer and haven't heard anything back in that long that I would be continuing to look and if I find something else so be it.

As a seller in this market I wouldn't want to risk losing a perspective buyer.

I just find it so odd. And yes frustrating on our end!!!! Either make an offer or stop coming over to my house

Of course being a seller in this market I will accomodate them.

Re: After you put in an offer

All of our negotiation took place in 1 day and we went back and forth about 6x