summerBaby10
let's be nice
Member since 9/07 10208 total posts
Name:
Wifey
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Re: made an offer on a house and haven't heard anything in 3 days!
lol - thanks, ok, I called. The owners want everyone's best offer & this is where we usually loose the house. I am seeing that there are no more back & forth negotiations. There is an initial offer made and then they come back once and ask for everyone's best offer. Sucky if you ask me.
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NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
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Re: made an offer on a house and haven't heard anything in 3 days!
That happened to us, too, and we got the house. This typically happens when there are multiple offers all around the same amount. Just make the offer with the highest amount you are willing to pay for it. If it's not accepted, then it wasn't meant to be. Good luck!
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Re: made an offer on a house and haven't heard anything in 3 days!
Do you have a buyer's agent? The market is competitive in most LI areas now ...not enough inventory to meet demand. So there are often multiple offer situations on "good" houses (that are priced well, in a desirable area, in decent condition).
A buyer's agent can help prepare you for and guide you through that scenario. First, they can discuss value with you re: comps, but sometimes the comps don't tell the whole story. I let my buyer clients know if I think they need to make an aggressive offer based on all of the market circumstances. For example, split levels are a hot style in N. Bellmore now and if a mint condition split comes on the market, you often have to offer full asking or close to it to get the house. I just had a client offer full price on a house in Wantagh Woods and then go over full asking because I knew that house in that area would go (and we prevailed in a situation where there were 5 other offers).
And it's not just about price - A buyer's agent can help you present the offer in the best light. As a buyer's agent, I know what the listing agent is looking for, what will give her and her seller peace of mind, how to present the offer in an organized way, etc. I was NYCGirl's agent, and we won out over another offer in part because in addition to making a strong offer with good terms, the listing agent felt comfortable with me. She said she presents her offers in the same way I did (leaving no questions unanswered about the buyers, their circumstances, etc.), whereas she said the other agent was more scattered, and also implied that the other buyers wanted their parents to come back and see the home before they moved ahead. I also try to humanize my buyers, so the sellers/listing agents see them as more than just a number, but as people (with careers, families, etc.).
Sometimes the nuances really matter when you have more than one offer on the table. It's a likeability factor
But to answer the question about timeframe... 3 days is not unheard of. You don't always get an immediate response. But at this point, I would follow up. Do you know how many sellers are involved? Sometimes you have situations where multiple people are selling a house (siblings selling a parents' home, for example), and more decision makers usually means slower response time.
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