- Offer Expiration: When you submit an offer as a buyer, you can include an expiration date and time, in which the seller has to respond. This can vary, but common timeframes are 24 to 48 hours. If the seller does not respond by the specified deadline, your offer is considered expired.
- Market Conditions: In a competitive real estate market where multiple offers are presented, sellers may respond more quickly to offers so they don't lose out on a potential sale. In slower markets, sellers may take more time.
- Negotiations: If the seller is interested in your offer but wants to negotiate terms or price, the back-and-forth process can extend the response time.
- Communication: Effective communication between the buyer's and seller's agents can also impact response times. A responsive and proactive real estate agent can help facilitate quicker responses and smoother negotiations.
It's important to communicate clearly with your real estate agent and specify your expectations regarding response times when submitting an offer. Additionally, be prepared for the possibility that the seller may not respond by the deadline, in which case you can decide your course of action, extend the offer, amend it, or explore other options.
If you have questions or need some guidance, reach out today! The J Brigham Team is here to help you with all your real estate needs. We pride ourselves in Going the Extra Mile, offering 20+ years of real estate expertise and total dedication to providing custom boutique service with integrity. Please connect with us! #jbrighamteam #nycrealestateagents #nycrealestate #flatiron #gramercy #luxuryhomes #sellingahome #buyingahouse