When does a buyer make an offer?
They expect the seller to respond within a reasonable time period. Most realtors encourage their sellers to respond to an offer within 24 hours. When a seller receives a legitimate offer in writing, the seller can either accept the offer, reject it, make a counteroffer, or do nothing. The seller is not legally bound to respond.
If a seller doesn’t respond in a timely fashion, the buyer might become irritated and lose interest in the property. Most real estate contracts contain an expiration date. If the seller doesn’t respond by the specified date, the agreement becomes null and void unless the buyer agrees to reopen negotiations.
Read Also: How Do You Know If You’re Ready To Buy A Home?
As a seller, your response time might differ depending on market conditions. Responding quickly makes sense in a down market. Whereas response time is slower in a thriving market.
It could give the seller more time to receive multiple offers. If circumstances warrant otherwise, good practice for both buyers and sellers is to respond to any offer or counter offer quickly and decisively.
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One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:
Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*
To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!
*Agardi Team and the seller have to agree on the price and the closing date.