Waiting for an Offer to be Accepted

by : Martin Lukac

When you are waiting for your offer to be accepted, countered or rejected, time seems to move in slow motion. If you didn't specify a time limit in your offer, you may be waiting a while. Even if you did, the seller has the opportunity to amend the time frame by countering your offer.

Sellers will often do this to keep you on the hook so to say and buy a little more time. They know you won't accept the counter-offer, but they are hoping that you will counter back.

Most buyers want the seller to respond quickly. After all, it means that their search for a home is almost over. Buyers are eager to hear an acceptance to their offer as soon as possible.

In a buyer's market, many buyers are less urgent. They often give a seller a longer time frame, but in doing so, they run the risk of the seller letting other potential buyers know about the offer.

If you failed to not the time frame for acceptance on your offer, you need to correct this as soon as possible. Email or fax the seller or seller's agent about the time frame under which the offer will remain open. If it has been a few days since you presented the offer to the seller, you can definately ask for an answer in twenty-four hours. That is more than acceptable.

If you do notify the seller of a time frame after presenting the offer, make sure that you back up your request with your desire to purchase the home. This will reinforce your interest in the property and could help the seller make a decision in your favor.