Realtor?

[Hobbs]

How soon after I make an offer can I expect an answer or counter offer? I guess it can vary but I'd like to know asap. I know others are looking at the same property but they were looking after I had already made my offer. I'm hoping the realtor isn't holding back my offer until the other offers come in.

[raw10628]

Depending on the strength of an offer it couled be a couple of hours or could be a few days. Just really depends on the situations. That said if they are expecting multiple offers, I would expect for it to take some time and they will wait for the other offers to come in. Unfortunately in the real estate world it's not about who's first, it's about who presents the best offer.

[tdwinklr]

How soon after I make an offer can I expect an answer or counter offer? I guess it can vary but I'd like to know asap. I know others are looking at the same property but they were looking after I had already made my offer. I'm hoping the realtor isn't holding back my offer until the other offers come in.

sorry to say but they ARE doing that now days, depends on the seller's demands whether they want to accept your offer or wait till several offers come in. Has happened to me on numerous occasions since last year and we finally closed on land because the seller wanted to be done with it and not pick and choose for a couple $1000 here and there. Frustrating, but land prices are going up and folks are getting very close to asking price for it now, unless like in our case, the lender would only finance right at appraisal price and the seller agreed to those terms.
Good luck!

[DFWPI]

Exactly, in this market its who has the best. Wife had one property with over 50 offers not long ago. Another lady in our office had almost 75 offers.

If we get multiple offers, we will usually post on MLS that offers are cut off on a certain date and time, and decision will be made.at such and such time.

Thats why you submit your best offer. We have one young cpuple that has lost on the last 3 offers because they want to offer under asking price, or at asking price.

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[jlp04c]

yeah, i'd say the listing realtor is just fielding whats available.. If you have a realtor working for you, you should know where you stand, because if you want the property, he/she should be positioning ya'll to get the deal done. From what I've seen its a fairly simple conversation between two realtors:
Your realtor (A): Hey my client wants this property and submit an offer of 200k,
Listing Realtor (B): 200k isnt going to do it, I've gotten 215k already.
A: Hey guys, not gonna get it done, can we go 215k and pay closing etc?

I could be wrong, but I don't think i'm far off base.

[Chance Love]

Did your Realtor give them a time/date to respond by??

[Preacher Man]

Seems like the trick to buying houses these days is to offer way over contract price to get your offer accepted, and then once you are locked into a deal, wait for the appraisal to correct the sales price to market value.

[jlp04c]

also, i'll note, if you really want the property, then your realtor needs to be keeping in contact with the listing agent, THROUGH TO THE SALE.. we just scored our new home AFTER it had gone under contract.. our realtor kept touching base with the listing agent. "hey if something falls through we want to place a bid etc etc" The contract fell through, and now we were first up to bat although the property had 7 original offers. It essentially allows you to work 1-1 with the seller via realtors prior to it going back up on MLS as an active listing. Just something to keep in mind.

[91cavgt]

When we sold our old house we had 7 offers in 1 1/2 days. We chose the highest offer which was $10k over our asking price. Thankfully for us the appraiser agreed that it was an accurate price for the house.


So if you really want a house that you found, don’t play games. Bid to win if you can afford it.

[Antlers86]

I made an offer on a property next to me in December of 2016. We didn't get an answer back until March 2017 that it had been accepted. Frustrating but it all worked out and was easy process from then on.

[DFWPI]

yeah, i'd say the listing realtor is just fielding whats available.. If you have a realtor working for you, you should know where you stand, because if you want the property, he/she should be positioning ya'll to get the deal done. From what I've seen its a fairly simple conversation between two realtors:
Your realtor (A): Hey my client wants this property and submit an offer of 200k,
Listing Realtor (B): 200k isnt going to do it, I've gotten 215k already.
A: Hey guys, not gonna get it done, can we go 215k and pay closing etc?

I could be wrong, but I don't think i'm far off base.

Yeah, we can't do that the way you put it. We can't suggest/infer what to bid or if we have a better offer to make them offer more. All we say is, make your best and highest offer.

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[jlp04c]

Yeah, we can't do that the way you put it. We can't suggest/infer what to bid or if we have a better offer to make them offer more. All we say is, make your best and highest offer.

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I mean.... haha

[Hobbs]

Did your Realtor give them a time/date to respond by??

Not sure. Guess I could have requested a response in a couple of days. I just gave him my offer and the pre-qualification like he asked for. He said he would send it in to the seller (actually a bank) and would let me know but he also said he had some others that were going to drive in from out of town to look at it this weekend. Hoping he sent mine in and isn't waiting until Monday to submit all the offers at once.

[tdwinklr]

Seems like the trick to buying houses these days is to offer way over contract price to get your offer accepted, and then once you are locked into a deal, wait for the appraisal to correct the sales price to market value.

I don't think you can adjust price after a contract is signed, unless there is a clause included, which I think ours was, that says something about when the lender only allows so much and then both parties can agree to accept that price.? Many sellers don't care and wait for another buyer that has the money to make up the difference.
And there ARE people out there now that offer OVER asking price just to have the highest offer, which I'll never do.

[DFWPI]

I don't think you can adjust price after a contract is signed, unless there is a clause included, which I think ours was, that says something about when the lender only allows so much and then both parties can agree to accept that price.? Many sellers don't care and wait for another buyer that has the money to make up the difference.
And there ARE people out there now that offer OVER asking price just to have the highest offer, which I'll never do.

You can adjust, just have to do an amendment. And then buyer/seller have to agree and sign.

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