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Q: I just wrote an offer on a property and I gave them 24 hours to respond. It’s already been two days and we have no response. The listing broker says the sellers take a long time to reply. Is it normal to just let deadlines go by? What should we do? Should we assume they’re not going to respond and move on to another house?
A: Ideally, sellers respond within the time frame allotted. However, sometimes that’s just not possible either because there are multiple parties who need to be in agreement or because the seller is unable to communicate quickly. Regardless of the reason, the truth is, sellers often figure (correctly) that your interest in the property is probably not going to go away if they take an extra day or two to accept or counter your offer. It’s rare for a buyer to move on to another property without finding out if the seller is going to accept their offer, reject their offer or submit a counter offer.
In my experience, if a seller is not going to respond at all, the listing broker will let the other side know so they can either amend their offer or move on. It can be tempting to increase your own offer when faced with silence from the other side. But that’s just negotiating against yourself. There are cases in which you might do that, but those are usually in multiple offer situations where you find out another higher offer just came in after you already sent yours. In this situation it just sounds like you have a slow, cautious seller. Countering yourself at this point might just lose you money for no reason.
Whatever the reaction to your offer might be, if you like the house enough, it’s worth waiting for the reply. If you’re anxious to move on and there’s another house you really love, then make an offer on that one. Once the deadline has passed, you don’t have any obligation to buy the house even if the seller accepts your offer as is. But before you pursue another house, your broker might want to call and tell them you’re thinking of moving on. That information might motivate the sellers to take action.
When it’s all said and done, if you really like this house, you’ll be glad you waited the extra few days for a reply. Patience now might result in years of happiness at getting the house you really wanted.
Talia Freedman is a Realtor with Signature Southwest Properties.
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