What's the longest you've waited on an answer to a bid?

Kra5hnburn Posted: Jul 18, 2005 11:47 AM

What's the longest you've waited on an answer to a bid?

We put a bid in a week ago, knowing that we were up against a couple other people and they were going to take everyone's info and select the best buyer. We still haven't heard anything. I was curious how long others had to wait for answers and whether they were accepted or not after all that time. TIA!

PrincessConsuela Posted: Jul 18, 2005 11:48 AM

Re: What's the longest you've waited on an answer to a bid?

weve had to wait a week before because they wanted to present all of the offers after the open house they were having.

Lost that one. but whatever.

Danielle&Scott Posted: Jul 18, 2005 11:56 AM

Re: What's the longest you've waited on an answer to a bid?

Posted by PrincessConsuela

weve had to wait a week before because they wanted to present all of the offers after the open house they were having.

Lost that one. but whatever.

Same with us but we got the call 5 days after that we got the house.
Scott

Kra5hnburn Posted: Jul 19, 2005 08:09 AM

Re: What's the longest you've waited on an answer to a bid?

Well, today is day 9 and I'm ready to strangle someone. We've been looking for 5 months, and have lost bids on other houses. I really think this is the one and it's driving me insane that they're playing with us. We're gonna be devastated if we lose this one--we're already calling it 'our house'

myasmom Posted: Jul 19, 2005 08:53 AM

Re: What's the longest you've waited on an answer to a bid?

24 hours.

bluesashbride Posted: Jul 19, 2005 02:09 PM

Re: What's the longest you've waited on an answer to a bid?

we put one in and a week later they were still kinda pansying around-making excuses as to why they hadn't decided when in fact they were just trying to get more offers in. we ended up retracting ours and THANK goodness because we found something a day later we liked even more and got that one!

Preshy7 Posted: Jul 19, 2005 02:13 PM

Re: What's the longest you've waited on an answer to a bid?

3 days (over a weekend)

DjPiLL Posted: Jul 19, 2005 03:27 PM

Re: What's the longest you've waited on an answer to a bid?

I actually just made my FIRST offer on a house today. So I am in the waiting game now just like you.

They are supposedly having an open house on Sunday... but I am hoping they will accept my offer and then just take 2nds at the open house. I think the sellers want to move quickly and thats not a problem with me.

I have a feeling my offer won't be the most money cause I offered them 15k below their asking. This house was already priced 40k more than I rather spend.. but the house was NICE so i felt it was worth it.

But... I always preach on LIW about presenting a 'strong' offer which is not only just the dollar amount.

To make my offer extra strong... in the offer letter I faxed over to them... I faxed them my latest paystub (to show my good income)... my pre-approval... my latest mortgage statement on my co-op showing how much I currently owe... and a 'comp' comparable listing for a similar co-op thats just on the market which will show how much equity I approximately have (over 100k).

I am hoping they will see me as seriously financially secure that they will consider me over any other offer that may come in higher.

I also told them I am not adding any contingencies on my co-op to the contract of this house (so i don't have to close my co-op before this sale). That puts me on level ground against all the renters and people living at home that have flexibility.

Kra5hnburn Posted: Jul 19, 2005 03:54 PM

Re: What's the longest you've waited on an answer to a bid?

Good Luck!!!

Well, we also gave our pre-aprroval, our credit scores, our incomes and occupations. Another plus is that we're renting month to month, so we can move whenever and don't have to worry about selling. Plus, we met their asking price! So, we are very strong candidates and I don't see how this is such a hard decision!!! AAAAGGGHHH!!!!

DjPiLL Posted: Jul 19, 2005 03:59 PM

Re: What's the longest you've waited on an answer to a bid?

UPDATE:

They just countered my offer. A little high though.

I have to decide if the house is really worth what they want for it.

So I guess to answer the original question... they could get back to you ASAP... or in some cases they can wait days.

Depends on how much of a hard-on they want to be I suppose.

Kra5hnburn Posted: Jul 20, 2005 08:02 AM

Re: What's the longest you've waited on an answer to a bid?

I feel your pain!

Well, last week they countered us and we met the counter! So I don't understand why it should take another week! I think that we might give them an ultimatum today.

DjPiLL Posted: Jul 20, 2005 09:36 AM

Re: What's the longest you've waited on an answer to a bid?

Yeah... i made a counter that was closer to their counter number... but they refused to budge... so I said forget it.

They said there is going to be an open house in the weekend so they want to gague offers.

But I told them my offer is only good till the end of business today. I am not going to play games... especially when I felt my offer should have landed the house.

Oh well... onward.