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How to know when a real estate bid is accepted

On Behalf of | Oct 11, 2017 | Residential Real Estate |

California residents often dream of purchasing a home of their own. It can be exciting to visit homes for sale and to make the decision to place a bid. Many home buyers also find that waiting to find out if an offer has been accepted can be a bit stressful, particularly when they have to wait more than a few days to get a response.

There are many reasons why a prospective home buyer may have to wait several days or more to learn whether the bid has been accepted. The first is that the seller has not had an opportunity to review, consider or respond to the offer. While it is true that many sellers are eager to get the process rolling, life circumstances such as an illness or death in the family may interfere with the seller’s ability to carefully review the offer.

It’s also true that the seller’s agent may take a day or two to submit the offer to the seller. This could be due to a heavy workload, a holiday weekend or difficulty in getting in touch with the client. As a result, a response to the bid will be delayed.Finally, some sellers ask their agents to not share bids below a certain amount with them. In such cases, they never see low offers and may not even be aware that they have been made.

Home buyers should feel free to contact their own real estate agent if it seems like a seller is taking too long to respond to a bid. They may also want to use this waiting time to seek out and speak with an experienced real estate attorney who can answer questions concerning proposed purchase agreements and other documents.