Why Closing On A Home Can Be Such A Trying Time

hour glassThere are lots of things that you have to wait for in life but getting a response from a seller that is considering your offer on their property might be one of the hardest of them all to suffer though. It’s only one of the most important decisions of your life! Technically they can take as long as they want to offer a response but there are some things that may help take out some of the guesswork.

Although there is no written rule as to how long the seller can actually take, some view a time frame of 24-48 hours as an appropriate amount of time. This gives the seller an opportunity to “sleep on it” and come to a decision. Each agent has their own preference and as always there are uncertainties that can arise when you are in the process of both selling and buying a home. Some of the things that can often be an issue are:

  • The seller may be indisposed at the moment. Perhaps a vacation, a work trip or an unexpected illness.

  • The seller has received multiple offers and they need the time to properly consider each one.

  • In some cases if your offer is just too low the seller might opt to not even bother to respond.

In order to avoid some of these situations you can also work with your agent to see if you can write the offer so that it gives you the opportunity to set a time limit. This can sometimes vary from state to state and your agent should be well versed in all the rules that you will need to follow. You have to be very careful though when using this option because it can go awry in both situations. Too little time the seller might feel rushed. Too much time and you risk other offers being presented to the seller. 

In reality it often comes down to how the offer is presented and for this it might be as simple as having the right agent to facilitate the negotiations. Having someone who is on your side and able to convey to the seller's agent your wants and needs can make all the difference. If you are in the market to buy or sell property then check out our Agents page and find someone who can help you navigate through the process.