how long do i have to decide on a real estate offer
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FAQ: MAKING THE OFFER Usually, once a reservation has been made on a unit, the developer will forward a copy of the contract for review by the investor. A certain amount of time is allowed to the investor to review such contract ranging from 7 days up to 30 days.
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How Long Are Real Estate Agent Listing Agreements? Reasons for Signing a One-Year Listing. There are some situations in which you can expect your sale to take even longer – if your home is located in a rural area, for example. Although a listing period of one year may sound like a long time, it could be the norm for your particular market.
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- It will depend on the closing date as set forth in the contract. For privately owned sales-assume a normal 30-45 days...It could be less if it's a cash deal. For foreclosures-usually 30 days. For short sales-it should be 30-45 days after the 3rd party lender approves the contract.or privately owned sales-assume a normal 30-45 days...It could be less if it's a cash deal. For foreclosures-usually 30 days. For short sales-it should be 30-45 days after the 3rd party lender approves the contract.
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How Long Should I Wait for Short Sale Approval? It can also mean that the appraisal is substantially higher than your offer, and the listing agent is building a case for a new appraiser. Although, I can say my average short sales take about 6 to 8 weeks to approve, we generally ask the buyer to prepare to wait for 90 days.
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- –Anonymous, Galt, CA. A: A deadline is usually given to the seller when you place a written offer on a house, it is part of the offer documents you signed. Your real estate agent should be able to tell you how long the seller was given to give you a response. Three things will happen after an offer is made: 1.
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How Long Are Real Estate Agent Listing Agreements? Reasons for Signing a 90-Day Listing Agreement. In a normally functioning real estate market, the average time period for a listing tends to be 90 days. With a well-priced home, the first month will be when you show your property and hold open-house inspections. If the house doesn’t sell during this time, you could ask for buyer feedback.
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- Apply to several lenders within a two week period so that the inquiries do not damage your credit report. Do this before contacting a real estate agent so you have a firm idea of what you can afford, and you don't accidentally fall in love with a [house] that you cannot afford. Sellers love buyers who get pre-approved.
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- Typically, we respond to offers in two business days with either an acceptance or a counter-offer. To streamline the process, promptly submit any additional information or documents the listing agent requests. Myth. It can take Wells Fargo. months to negotiate a price on a foreclosed home. ............................
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- AFTER YOUR OFFER IS ACCEPTED Your offer on your new home has been accepted. These are the things you need to do between now and the closing date. Within the First 10 Days of Acceptance Contact your mortgage person to apply for your mortgage.
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Real Estate & Mortgage Insights Real estate contracts have specific clauses which allow renegotiation in limited areas. For example, a real estate contract may require a buyer to get his home inspection completed in fourteen days. It allows the buyer three days (or whatever) to review the inspection and report any problems to the seller. If no problems are reported, that contingency automatically disappears.
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- The length of the contract is up to you and your agent. In my area, for example, I know that I need at least 3 months (in a good market), and realistically, it will take 6 months or more in my area with the current buyer's market to sell a property.
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How Many Times Can a House Closing Be Postponed? Property purchase contracts often address a closing date in one of two ways. In some contracts, a closing is date-specific. In others, the closing is specified as occurring within a specified time -- for instance, 45 days after contract acceptance. Any date or manner of conditioning the date spelled out in the contract is acceptable so long as both parties agree.
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- Well it depends. If the seller has all the documents available, the title is ok and it is a cash purchase it can take as little as a few working days however hardly any purchases are like that. The “date of entry” is the date everything settles and it is agreed by the buyer and seller in the contract negotiations.Sometimes both parties want this date to be early sometimes they want it to be late. The average time between an offer going in and the house changing hands is probably about 8 weeks or so.n Scotland I’m told once an offer for a house is accepted – that’s that and you can’t be gazumped. Gazumping is pretty well unknown in Scotland. This is probably because lawyers are involved right from the offer stage and “formal” or potentially legally binding offers are submitted at an early stage in the process.
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Option Contracts for Buying & Selling Real Estate If the option is for a fixed period, like six months, the exercise of the option must take place within that time. If a time is not specified in the option contract, a court will require the seller to hold the offer open for a “reasonable time.” An option can’t be extended for an indefinite time or “forever.”.
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How Long Is a Real Estate Listing Contract? Duration of the Listing Contract. The listing contract contains the terms under which the real estate agent will perform marketing and selling services and how much commission she is due upon the closing of a sale. The length of the contract can be three months, six months, a year, or any other period you choose.
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If I fire my realtor how long do I have to wait to do for sale by owner? If you have a buyer now, why not just use your current realtor-in 90 days, you might not have a buyer anymore (really just depends on how badly you want to sell).I know it's irritating to give commission to someone who has lied to you and you've had a bad experience with, but it would be worth it if the house sold.epends on the contract or local law. In my state you could sell right away but if the for sale sign or any action done by the Real Estate Agent brought the buyer to you the Real Estate agent could sue you for a commission.
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Real Estate Agent Salary As a Seattle real estate agent, I am typically working with several buyers and sellers, around 10 or 15 at a time. The reason I have so many is because there are people buying throughout the year, but some people may take 3 months or 6 months to buy.
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How long does appraisal take once it has been ordered? As for the inspection, you do not need to wait for the appraisal to come back to order that. In fact, depending on the time frame you put in your contract for Due Diligence, you likely have no more than 7 to 10 days (see your contract) to complete your home inspection.n appraisal is a loan program requirement while a home inspection is generally not required by the lender, though may be by the municipality. The process to close is generally 30-45 days from the date of loan application depending upon the type of loan program you choose.
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How Long Should A House Stay In Sale/Contract Pending? Can I Still Make An Offer? Report Abuse. If its in sale pending for last 3 months, then it is short sale transactions. Sometimes the buyers don't want to wait this long since they don't know if bank will accept their offer or not, they sometime go and put the offer on other houses, so sometimes these houses comes back in the market.eport Abuse. If its in sale pending for last 3 months, then it is short sale transactions. Sometimes the buyers don't want to wait this long since they don't know if bank will accept their offer or not, they sometime go and put the offer on other houses, so sometimes these houses comes back in the market.
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- good luck it depends are you paying cash or are you financing the home if cash anywhere from 3 weeks to a little over a month if your financing the home from 45 days to 2 months basically as long as it would take a normal real estate transaction usually about 45 days sometimes sooner
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how long after you make an offer on a home does the seller have to accept or decline? In close, before placing your offer on a home, contact the listing agent before placing your offer and ask the listing agent that if you were to place an offer could he/she agree to a 24 hour response on a yeah or nay answer. Make sure you place that 24 hour response on your offer to keep everyone on the same page.
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What if My Bid Is Accepted on a HUD Property? HUD Closing Events. Typically, HUD-authorized closing agents conduct closings for HUD properties. If you or your real estate agent prefer a non-HUD closing agent, you'll be responsible for paying its fees. Conduct a final walk-through of your HUD home 24 to 48 hours before your sale closing. HUD also pays for allowable closing costs and the real estate agent's commission listed on your bid.
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- 1 Conversely, if your neighborhood has seen a lot of short sales or foreclosures, your home's value will be decreased. 2  Try to time your listing so that you're not affected by distressed sales. 3  For instance, in most areas, a comparable sale can only weigh against the value of your home for 90 days after the sale date. For example you will use different property styling if you're selling a bachelor pad or a family home. 2  And remember: if your house is decorated in a very specific style, this might not match the style of your potential buyers. 3  Pay attention to how the outside of your home looks.
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Home appraisals come under more scrutiny Neither the buyer nor seller can choose the appraiser, but Sellers says buyers can insist on a minimum competency, which he defines as having local market knowledge and being certified as well as licensed. Buyers and sellers also can agree on longer timeframes for the home appraisal contingency and closing date. Schwarzentraub suggests that asking for a 45- or 60-day closing, rather than 30 days, is not unreasonable. Buyers are entitled by federal law to a copy of any appraisal for which they’ve paid a fee.
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Appointing a real estate agent You only pay the agent their commission if they sell the property. You can open list your property with several different agents at the same time. If you appoint a sole or exclusive agent, they may continue as an open listing: after the sole or exclusive agency agreement has ended; if you agree on the appointment form. Cancelling the agreement
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- Best Answer: well your offer should have had an expiration date on it so you should expect a reply by then. Most respond in 24 hours. If a bank owned property or a short sale then it can be a lot longer. Source(s):