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Is there a general timeframe after offer has been made?

  • 14-04-2014 4:53pm
    #1
    araic88
    Registered Users, Registered Users 2 Posts: 313 ✭✭


    Hi there,
    I just got mortgage approval and have made an offer on a house I really like.
    I know this question is like "how long is a piece of string" but I'm curious as to how long vendors generally take to consider an offer. I know every seller is different but is there a general timeframe?! I made the offer this morning and EA simply said to leave it with him. I wonder will I be leaving it days or weeks etc before I hear back


Comments

  • #2
    MarkN
    Registered Users, Registered Users 2 Posts: 4,323 ✭✭✭MarkN


    It depends. I've bid on houses where the phone is hopping all day with the estate agent ringing back and forth with other bids and then I've encountered supreme arrogance from estate agents with this smarmy, smug attitude where you're chasing them for any updates. You're in for a fun ride anyway, I've been trying to get a house since Feb. Good luck with it!


  • #3
    pwurple
    Closed Accounts Posts: 12,449 ✭✭✭✭pwurple


    They will dangle you for months if you don't drive it along yourself. Explain you are looking at other properties, tell them you will leave the offer with them for a certain period (1 week, 2 weeks... Whatever suits you).

    After 2 weeks you do need to be prepared to move on though.

    It only gets speedy when there are several people bidding at the same time.


  • #4
    Shellakybooky
    Registered Users, Registered Users 2 Posts: 40 ✭Shellakybooky


    When I put in the bid for my house I did it by email to the agent. I stated my bid, a few other thing and a date that I was leaving the bid on the table for (think I gave around 5 working days). I got the call back the morning of the last day accepting my bid.

    It can depend on the circumstances. The agent was aware I was looking at two other houses in the same estate and I had viewed them. This was also two years ago and there wasn't a lot of bidding wars going on at the time. It may not be the way to do it if there is a lot of interest in the house.


  • #5
    araic88
    Registered Users, Registered Users 2 Posts: 313 ✭✭araic88


    Thanks for the replies. I'm not actually in any real rush I just get impatient ;-) I think il leave it a week and then tell EA my offer stands for one more week after which I'd like to pursue other options/houses.


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