Profile picture for Ali2012

We submited our offer three days ago but we have not heard anything yet. What should we do?/

I contacted our agent couple of time to get an update and she told me she has not heard anything yet? Any suggestion?
  • May 18 2012 - US
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Answers (6)

Profile picture for craigfial
If it's a bank or Short-sale, you could end up waiting weeks (or never hear at all).  If it's a regular sale, your should have an offer expiration date.  If they seller does not respond to your offer within that time, then the offer is void.
  • May 18 2012
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Profile picture for Tesa Noonan
We have done short sales that have taken 30 days and we have done short ssales that have taken 6 months.  There are many factors who your lender is, the loss mitigator, how many files they have... etc.  If 3 days is an issue for you, perhaps short sales are not the way to go.  These can be lengthy transactions and patience is the name of the game!  Best of luck to you..

Team Kern
  • May 18 2012
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Profile picture for wetdawgs
Short sales have potential to take much longer than traditional sales.  In addition to the owner of the house having to accept the offer, the lender has to accept the offer. (You should hear if the owner accepts the offer before it goes to the lender.)   The time frame for the latter?  A few weeks to a few months would be most likely.

  • May 18 2012
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Profile picture for Ofe Polack
With a short sale, it does not matter if you put a time limit since most of the banks do their own thing.    Ask you Buyer Agent to contact the Listing Agent frequently to obtain feedback,  get a cup of tea, read a nice book and wait!
  • May 18 2012
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Profile picture for Ali2012
No, the house in a short sale, should we have put a time limit on our offer?
  • May 18 2012
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Profile picture for wetdawgs
Did you put  a time limit on your offer? 

Is this a traditional sale or a short sale or foreclosure?
  • May 18 2012
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