Real Estate
Sponsored by

No response to offer

4,485 Views | 18 Replies | Last: 5 yr ago by Diggity
meggy09
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:16p, 10/29/18
AG
I'll be talking with my realtor tomorrow, but wondered if there was any insight or thoughts from this board.

Put an offer in with 24 hr deadline. Offer was 4% below asking, 45 days to close. House has been on the market 33 days with 4 price decreases. Realtor heard nothing back from listing agent at all, offer expired at 8 this evening.

I don't think the offer was out of line. Especially not enough to just ignore. So do I move on? Resubmit an offer $5k higher? That'd be about as much as I'm willing to go, comps don't support even the most recent lowered number.

This is assuming there wasn't another offer they are taking or negotiating with.
Reply Quote
1 edit
Señor Chang
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
11:23p, 10/29/18
AG
Find out why there was no response first. Did the seller's agent confirm they received the offer?
Reply Quote
1
Diggity
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
11:34p, 10/29/18
AG
Don't counter with yourself. Talk to the agent and see if they plan on responding.
Reply Quote
26
meggy09
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:51a, 10/30/18
AG
Yeah I certainly don't want to negotiate myself to a higher price, just know that my agent reached out to the listing several times towards the latter part of the day getting only radio silence. I'll see what tomorrow brings.
Reply Quote
JamesBREI06
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:48p, 10/30/18
AG
Why did you put a 24 hour deadline on the offer? As a seller that is sending some bad signals
Whoop!
Reply Quote
21
schwack schwack
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:34p, 10/30/18
AG
We sold a house over a holiday weekend and were out of town & not checking email as often + the house had only been on the market for 2 days & we weren't expecting an offer so soon. The next day, the seller upped their offer before we even knew about the first one. We'd have taken the first offer (with maybe a small counter) if we'd seen it.

Agree with the others - have your agent follow up. Weird that they are not responding.

Reply Quote
DannyDuberstein
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:21p, 11/1/18
AG
Update?
Reply Quote
5
MemphisAg1
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
7:58p, 11/2/18
AG
People are in too much of a hurry these days.

Listed for 33 days with 4 price decreases.

An offer that expires in 24 hrs.

Wtf?
Reply Quote
13
HomeFinderCody
User Profile
Private Message
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:39a, 11/3/18
Sponsor
AG
I think it's a bad idea to submit an offer with a 24 hour deadline....basically, you are sending the message to the Seller that you are going to push them around from the outset. You can withdraw an offer at any time, so I've never understood the thinking. Just my two cents.

Back to your original question -- did your agent confirm that the listing agent actually received the offer? Sometimes emails get missed, so your agent should have been following up via phone/text as well to confirm receipt. If they DID confirm receipt, then the lack of a response within your 24 hour time frame is them giving you an answer...
Sponsor Message: Need real estate help in North Texas? Click Here to Save $500
Reply Quote
4
powerbelly
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to meggy09 • 10:39a, 11/6/18
AG

Quote:
Put an offer in with 24 hr deadline.
Why? As a seller this would be a red flag.
Reply Quote
4
aggiebq03+
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:56a, 11/6/18
Reply Quote
2
ATM9000
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
11:51a, 11/6/18
AG
I would laugh out loud at a 24 hour deadline as a seller... like what does that even mean legally? Case in point, if it were 48 hours later and the sellers came back and said 'yeah we will sell to you at that price'... are you really turning your nose up at it and saying f you you had your 24 hour window.

Of course you aren't. When you lay out commercial term sheets, always ask yourself what stipulations will you actually stand by and what stipulations are worth something and only those belong in a bilateral agreement.
Reply Quote
5
1 edit
DannyDuberstein
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to DannyDuberstein • 3:26p, 11/6/18
AG
DannyDuberstein said:
Update?
111 hours have passed since my request for an update. Should I rescind it?
Reply Quote
25
dallasiteinsa02
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to ATM9000 • 4:15p, 11/6/18
ATM9000 said:
I would laugh out loud at a 24 hour deadline as a seller... like what does that even mean legally? Case in point, if it were 48 hours later and the sellers came back and said 'yeah we will sell to you at that price'... are you really turning your nose up at it and saying f you you had your 24 hour window.

Of course you aren't. When you lay out commercial term sheets, always ask yourself what stipulations will you actually stand by and what stipulations are worth something and only those belong in a bilateral agreement.

I agree. Offers with an option period and deadline to respond, though typical, seem to be hypocritical. I understand that buyers don't want a seller trying to solicit better offers when they have their offer in hand, but it isn't like you are really committed with a 10 day option for a few hundred dollars. The seller when they sign are committed to at least the terms they are agreeing to.
Reply Quote
1
Bassmaster
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to DannyDuberstein • 1:23p, 11/7/18
AG
DannyDuberstein said:
DannyDuberstein said:
Update?
111 hours have passed since my request for an update. Should I rescind it?
No need to, OP waited 87 hours too long so your request expired naturally.
Reply Quote
7
plowboy1065
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:25p, 11/7/18
agsalaska
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to dallasiteinsa02 • 9:45a, 11/13/18
AG
Option periods are for inspections. I would never expect a buyer to get in a contract on a resale without an option period.


Now the 24 hour deal was a silly idea.
Reply Quote
JR Ewingford
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:17p, 11/13/18
Bahha. If I was selling and someone gave me a 24hr deadline, I'd tell em to kick rocks.
Reply Quote
4
IWannaGoFast1
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
6:44p, 11/14/18
AG
This is kind of off topic, but what's y'all's opinion on short seller time limits on offers?

Reply Quote
1 edit
Diggity
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to IWannaGoFast1 • 7:03p, 11/14/18
AG
They're fairly meaningless. Some agents put timelines on counters to protect themselves (because a counter without a termination date theoretically would be good forever, or until it was officially rejected).

In practice, I don't think they're necessary. If you decided a few days later that you could live with the counter, they would probably still agree to a contract (unless something better came along).
Reply Quote
1 edit
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.