When buying real estate in Charlotte NC, placing an offer to purchase a Charlotte NC home is the first step in opening negotiations between the buyer and seller of that home.
It’s possible to place an “offer expiration” date and time on your offer to purchase a Charlotte NC home – a deadline by which the sellers must give you a response to your offer. An offer expiration deadline can provide a timeframe for the buyer so that you can either proceed with negotiating contract terms or go on your way to the next property that made your list of top contenders.
An expiration deadline on an offer to purchase a Charlotte NC home is just that, a deadline by which you either have an answer or your offer automatically expires and no longer is on the table. It can save time and avoid waiting, waiting and waiting for an answer from the sellers.
An expiration deadline for an offer should be realistic (as in, 2 hours probably isn’t enough time for sellers to thoroughly review and consider your offer terms!).
As a buyer, if the seller of the real estate in Charlotte NC that you’ve placed an offer to purchase doesn’t respond by the deadline, POOF! your offer’s gone and you move on to the next property.
A response from the sellers to your offer to purchase their home in Charlotte NC can be:
– a full, complete acceptance of all your terms
– a counter-offer (changing any of the purchase contract terms, even by a date or single word), or
– a flat out rejection of your offer, possibly with suggestions of terms the sellers would consider favorably
Either way, placing an offer expiration deadline on your offer to buy a home in Charlotte NC can save you, the buyer, time and also let the homeowners know you’re serious and ready to move along to another home if agreeable terms can’t be reached.
As with ALL purchase contracts for real estate in Charlotte NC – it’s not a contract till everything is in writing and signed by buyer AND seller. Even with a verbal agreement of all the purchase terms for real estate in Charlotte NC…..it all needs to be in writing to actually be a contract to purchase real estate in Charlotte NC.
****One important note: WHENEVER there’s a third party involved (i,.e. short sale, relocation company, anyone else that has to give approval of purchase contract terms), those third parties can take much longer to respond to an offer to purchase a home for sale in Charlotte NC. So BEFORE making an offer to purchase, it’s important to take that into account when buying real estate in Charlotte NC****
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Copyright©2009 by Diane McDermott, All Rights Reserved, “Using an “Offer Expiration” When Buying Real Estate in Charlotte NC”