Salisbury, MD asked in Real Estate Law for Maryland

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?

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2 Lawyer Answers
Thomas C. Valkenet
Thomas C. Valkenet
Answered
  • Baltimore, MD
  • Licensed in Maryland

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.

Richard Sternberg and Mark Oakley agree with this answer

Richard Sternberg
Richard Sternberg
Answered
  • Potomac, MD
  • Licensed in Maryland

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 Give them, in writing, 48 hours to accept or the offer is withdrawn.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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