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Cheska's Bella 12-05-2006 08:36 AM
House offer...
 
So for those of you who have recently bought a home (congratulations btw!!!), how long did it take once you made an offer, for a counter-offer to come back?

I'm sure it varies but I'm hoping it goes quick! (I'm a very impatient person.) :D

Ladylavender 12-05-2006 08:42 AM
Well it only took 2 days, because our realtor gave the seller (in the written offer) only 2 days to get back to us, or our offer was off the table.

Cheska's Bella 12-05-2006 08:45 AM
Quote:
Originally Posted by Ladylavender
Well it only took 2 days, because our realtor gave the seller (in the written offer) only 2 days to get back to us, or our offer was off the table.
Oh wow. That was smart. The SO's w/the realtor now filling out the written offer (lucky I'm at work). Maybe they'll think of that!

hle_625 12-05-2006 08:47 AM
Our realitor did the same thing also, only gave them a certain amt. of time! From the time that we put in the offer, it only took us 3 weeks for the closing and everything! It was very smooth and fast, I was excited!

Cheska's Bella 12-05-2006 08:52 AM
Quote:
Originally Posted by hle_625
Our realitor did the same thing also, only gave them a certain amt. of time! From the time that we put in the offer, it only took us 3 weeks for the closing and everything! It was very smooth and fast, I was excited!
WOW! That's really goood too!!!

I'm just worried that what we offered will be too low. :confused:

Cheska's Bella 12-05-2006 08:54 AM
Like now I'm wondering how much people usually over list their house. Okay, that doesn't make sense but I don't know the lingo.

Ladylavender 12-05-2006 09:26 AM
I think very few people "over list" their house. And if they do, those are the ones that take forever to sale. The reason is, that their realtor has an obligation to evaluate their house, their neighborhood and the market and determine what a house like theirs in their neighborhood would or have been selling for. Then a mutual resonable price is agreed upon by the seller and the realtor. To list your house for a price way above the market only lowers the chance of a quick sale. Now they may have determined the price of the house, allowing some wiggle room for negotiations, but we are only talking about a couple of thousand here and there. Nothing real drastic. So under bidding on a home could be a problem for you, but your realtor should have discussed that with you. If your realtor thought that your offer was reasonable, then I would not worry too much. She is not going to let you under bid, because she wants you to have that house too, because of her commission.

hle_625 12-05-2006 09:34 AM
Quote:
Originally Posted by Cheska's Bella
WOW! That's really goood too!!!

I'm just worried that what we offered will be too low. :confused:

Dont worry about that either, my first offer they didnt accept either so we resubmitted one and they accepted it. Dont worry at all, you will be fine!

Surfie and Tiki 12-05-2006 09:57 AM
Quote:
Originally Posted by Cheska's Bella
Oh wow. That was smart. The SO's w/the realtor now filling out the written offer (lucky I'm at work). Maybe they'll think of that!
Most standard paperwork has a pre-written spot for the time period that you, the Buyer, require for the counter offer to be in by. Mind you, they are not obligated to counter, but most Seller's will if your offer was fair, with good intent....

Congrats, hope it works out for you!!!

yorkieangel 12-05-2006 01:55 PM
I'm sure your realtor will put a time frame in the contract. one time we didn't put a time frame and it was fiasco because we had to get a release before we could bid on another house. That was only once and we have bought 6 houses over time.

This time of year people usually are asking prety close to the price they want. The market has hit a dip and the overpriced houses are coming DOWN.
Your seller should either accept your offer or probably make a counter offer which you can accept or make a counter offer back.


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