Saturday, April 18, 2009

No time limit

Something to keep in mind for first-time home buyers: ask your Realtor to include a time limit in your offer for the seller. Apparently, this is a fairly common practice, asking the seller to accept or decline your offer within 24 or 48 hours. This, however, is not standard operating procedure for some companies, such as Remax. As a result of omitting this time constraint, I've been sitting nervously by my phone all day waiting for the call from Bob to tell me whose offer the seller accepted. It's been about 50 hours since we originally put in our bid, and I must admit, all this waiting is getting old.

If you don't want this to happen to you, future home buyers, set a time limit up front.