After placing an offer on a home, you’re likely anxious to hear a response back. These moments are no doubt excruciating considering a house is one of the biggest financial decisions you’ll ever make. Knowing how long you can expect to wait for a response from the seller can ease some of your nerves. While there isn’t an official timeframe for when a seller will get back to a prospective buyer, real estate agents and sellers usually stick to an industry standard. Whether you recently placed an offer on a home or plan on doing so soon, The Jana Caudill Team provides what you should know. Talk to our realtors today for more advice.
Sellers have three main ways they can respond to an offer for their home:
How quickly a seller provides one of these responses depends on a few factors.
Theoretically, sellers have as much time as they want to respond since there are no legally-binding requirements that they are obligated to follow. In practice, however, the majority of sellers (or their real estate agents) will respond in a few days. Many realtors strive to respond to offers within 24 to 72 hours, although some situations are exceptions to this standard.
There are a few instances in which a seller may take an extended amount of time to respond to your offer:
In the end, you’ll need to be a good negotiator for your offer to be accepted, and that’s why you should work with a skilled real estate agent. A house is one of the largest purchases you’ll make in your entire life, and you want to feel confident in your decision. It all begins with a talented realtor who can negotiate on your behalf and ensure your best interests are upheld in the contract. Hire The Jana Caudill Team for experienced guidance. Call us today to begin.