Q: If I put in an offer on a property for sale, how long do I have to wait before the current owner accepts or rejects it?
My friend put in an offer on a house more than 60 days ago. When they asked the seller about it (seller became elusive) they came back and said they want to wait and see if more offers come in first. Is this allowed?
A: It is up to the offeror to put a time limit on the offer. A letter, now, giving a deadline or withdrawing the offer will work.
Mark Oakley and Richard Sternberg agree with this answer
A: I agree with Mr. Valkenet. Cut off the free option. Give them, in writing, 48 hours to accept or the offer is withdrawn. Any salesman will tell you that a deadline helps to clarify the mind.
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