Question: Why Do Sellers Take So Long To Respond To Offers?

Do Sellers usually accept first offer?

Real estate agents often suggest that sellers either accept the first offer or at least give it serious consideration.

Real estate agents around the world generally go by the same mantra when discussing the first offer that a seller receives on their home: “The first offer is always your best offer.”.

Can a seller reject a full price offer?

Even when buyers submit an offer at the sellers’ asking price and with no contingencies, there’s no guarantee they’ll get the house. … Home sellers are free to reject or counter even a contingency-free, full-price offers, and aren’t bound to any terms until they sign a written real estate purchase agreement.

Do sellers have to respond to an offer?

When a seller receives an offer, they can accept the offer as written, reject the offer, submit a counteroffer or do nothing. … There is nothing illegal or unethical if they do not respond. In fact, as the buyer, you have the same exact ability if you receive a counteroffer.

How long does seller have to respond to offer?

It was valid for 72 hours, until 5 p.m. on January 5. Any money paid by the buyer, such as earnest money, would be promptly refunded. Sellers often respond within one to three business days, even in states that don’t have specific rules and guidelines.

What happens if seller doesn’t respond to offer by deadline?

If a seller does not respond, the offer simply expires. It no longer exists. If a seller counteroffers, regardless of when, the original offer is extinguished and the counteroffer becomes the offer from seller to buyer.