How Long Do I Have to Respond to an Offer on my House? (2024)

FAQs

How Long Do I Have to Respond to an Offer on my House? ›

However, it's an unspoken rule in the industry that sellers and/or the listing agents should respond within a few days, with 48 hours the norm.

You can take as long as you want before responding since there is no official time frame. However, the industry standard is to get back to interested buyers within 24 to 72 hours. This is a common courtesy observed by many professionals in the industry in regards to how long do home sellers have to respond to an offer.

You can justifiably take about a week if you want, but the employer might expect you to respond sooner (as in a situation where they think they've offered you a really good position). Generally, you can wait up to three work days without hurting any feelings if there's not a hard deadline.

A reasonable amount of time to respond to a counter offer is within 24-48 hours.

There is a chance that getting no response means your offer was too low to be considered seriously by the seller. On the other hand, if the seller is simply slow to respond, speak with your real estate agent to follow up with the seller's agent.

The truth is, sellers don't have a legal obligation to respond to you. If they don't like your offer, they don't have to say anything.

As a buyer, the ability to back out of an accepted house offer is good news. Even if the home is under contract, you can walk away from the sale. But the potentially negative consequences tend to grow the further along you get in the home buying process.

“Sellers may take their time to choose which offer is best for them.” Another reason your offer might go unanswered is if it's too low. “If an offer is far from what a seller expected to receive, many times they won't respond at all,” says Parnes.

A kick-out clause allows a seller to accept another offer unless the buyer drops their contingencies. Kick-out clauses are most often employed during a seller's market. Home buyers must determine whether they want to follow through with a contingency-free purchase -- and possibly put themselves at risk.

So when you see what you like, go for it! “If a buyer knows what's out there and what they want, then they should make the offer right away,” says Chris West, a real estate broker and owner of Gustave White Sotheby's International Realty in Newport, RI. “You never know who else is interested, and you could miss out.”

Does a counter offer have a time limit? ›

There is a time limit for how long the seller or buyer has to sign, decline, or counter the counteroffer (usually 24 hours). Theoretically, the buyer and seller can go back and forth with counter offers until they reach an agreement.

The home seller may counter with a higher price than the buyer's original offer, but lower than the original asking price. If the buyer thinks the price is still high, they could counter it.

Yes, the seller can accept another offer after a counter-offer, but they will probably have to inform the first buyer that they have received a new offer. The original buyer then has the right to match the new offer or walk away from the deal.

The typical response timeframe is 1-3 days. Most real estate agents agree that 48 hours is standard for a seller's agent to acknowledge an offer and provide some reply. As a part of the offer process, a seller should respond by: Accepting the offer as-is.

In theory, sellers can take as long as they want before responding to an offer, but most listing agents get back to buyers within a few days. For the most part, 24 to 48 hours seems to be the standard observed by most sellers and their agents, but there are some exceptions.

What happens when a buyer rejects a counter offer? A counter offer legally voids the buyer's original offer. It typically releases them from any legal obligation they had towards the original contract, and there's nothing you can do should they choose to reject your offer.

In theory, sellers can take as long as they want before responding to an offer, but most listing agents get back to buyers within a few days. For the most part, 24 to 48 hours seems to be the standard observed by most sellers and their agents, but there are some exceptions.

Sellers do not have a time limit to respond to an offer on a house. The real estate industry standard is responding within 48 hours. Although, you can set an expiration date on your offer.

Yes, a seller can back out of a real estate contract. However, they have a limited number of options for withdrawing after a purchase agreement is signed. A homeowner who wants to back out of a deal will need a legitimate legal or contractual reason to cancel a home sale.

The seller is under no obligation to accept any offer or respond in any way to a particular offer or any offer at all. If the offer expires without seller response, just move on to another source for the item you need/want. Or make a higher offer (but be prepared to wait for 48 hours with no response).