Established Contributor
JusdoNit
Posts: 921
Registered: ‎12-10-2011
Offer submitted; now what?

HI everyone.  Submitted an offer on Friday.  About how long does it take to hear back? :smileyindifferent:


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

If your outGo is more than your INcome than your UpKeep will become your downFALL.

Take the FICO Fitness Challenge


Valued Member
hippychic823
Posts: 117
Registered: ‎01-05-2012
Re: Offer submitted; now what?
Really depends on the seller....are they out of town? Is it an estate sale? A bank owned? Etc... I will spare ya the long drawn out details of my house-buying soap opera (I've talked about it in depth on several threads and I'm sure people are tired of hearing it, lol) but basically I've put offers on 3 houses since last summer. The first one I put offer in on Fri, heard back on Mon (the sellers lived in same town and we were using same real estate company). The 2nd offer I put in on a Tues but didn't hear anything back until that Fri (it was an estate sale and the executor of the will/seller was in another town). The 3rd house I put offer in on Fri and heard back on Mon (they live in same town and we were using different real estate companies). Now, lol, you and I are in same boat because I put in an offer on ANOTHER house on Fri Mar 16th and am still waiting to hear if its been accepted (this house is being sold through a relocation company which I'm not familiar with THAT process at allllll lol). So sitting here with ya with fingers crossed :smileyhappy: Best of luck to ya!!!! Maybe we'll close at the same time?!? I'm sooooooo ready to close on a house and stop renting!!! :smileyhappy: I've been rebuilding credit and stacking savings for the last two years for the sole purpose of buying a home....I'm ready to reap the fruits of my labor!!! :smileyhappy:
Valued Contributor
boomhower
Posts: 1,726
Registered: ‎09-20-2011
Re: Offer submitted; now what?

You'll usually hear back in a business day or two.  But if it's a bank owned property it can take forever if it's not a well run place.

Regular Contributor
StrateUp
Posts: 233
Registered: ‎02-02-2012
Re: Offer submitted; now what?

I offered on a short sale. My offer was accepted the same day. 84 days later I'm waiting to hear back from the sellers bank.

Established Contributor
JusdoNit
Posts: 921
Registered: ‎12-10-2011
Re: Offer submitted; now what?

WOW


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

If your outGo is more than your INcome than your UpKeep will become your downFALL.

Take the FICO Fitness Challenge


Valued Contributor
Walt_K
Posts: 2,624
Registered: ‎11-02-2009
Re: Offer submitted; now what?

StrateUp wrote:

I offered on a short sale. My offer was accepted the same day. 84 days later I'm waiting to hear back from the sellers bank.


Sorry for the threadjack.  I hope this works out for you soon.  We stayed away from short sales because our agent told us 6 months was not uncommon.  You can find great values if you have the patience.  Good luck.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13), TU 98 728 (01/06/12), TU 04 728 (lender pull) (01/12/12), EX 742 (lender pull) (01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
Valued Contributor
Walt_K
Posts: 2,624
Registered: ‎11-02-2009
Re: Offer submitted; now what?

Back on topic.  Agree with most everyone above.  Our seller was out of the country, and we still heard back within a day.  Just depends on the seller's motivation.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13), TU 98 728 (01/06/12), TU 04 728 (lender pull) (01/12/12), EX 742 (lender pull) (01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
Regular Contributor
DrJim
Posts: 232
Registered: ‎10-26-2009
Re: Offer submitted; now what?

Less than a hour after we submitted the offer!


Starting Score: TU 672 EQ 654 10/20/09
Current Score: TU 724 EQ 708 EX 723 AMEX 02/12/2013
Goal Score: 760 across the board


AMEX Delta Platinum $25K, NFCU Visa Signature $30K, HHonors Signature Visa $14K, WF $13.5K, Care Credit $3.5K

Take the FICO Fitness Challenge

New Contributor
iamwhoiam
Posts: 88
Registered: ‎06-01-2011
Re: Offer submitted; now what?

Did you have a time frame in the offer?

 

As others have said, it's typically within a day or two.