The offer that you make has a “life”. The life of your offer may vary from 12 hours to several days. Your Realtor can help you determine the best life span for your offer based on the specifics of your purchase. For example, if you like a newly listed home that likely has other offers, your Realtor will likely recommend an offer with a shorter life. On the other hand, if the home you want has been on the market for several months and is located fairly far away, you may want to allow a couple of days before the offer expires.
Once you make an offer, you’ll receive one of the following responses:
- Counter Offer
- No Response
Most likely, your offer will be accepted or you will receive a counter offer. In a few instances, your offer may be rejected or go without a response. This is often associated with sellers feeling low-balled.