This form is a sample letter in Word format covering the subject matter of the title of the form.
Letter Acceptance Offer Contract With Realtor In Virginia
Category:
State:
Multi-State
Control #:
US-0008LR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Legally speaking, there isn't a time frame for sellers to respond to your offer. However, it's an unspoken rule in the industry that sellers and/or the listing agents should respond within a few days, with 48 hours as the norm.
In theory, sellers can take as long as they want before responding to an offer, but most listing agents get back to buyers within a few days. For the most part, 24 to 48 hours seems to be the standard observed by most sellers and their agents, but there are some exceptions.
(Two to three days is usually enough.) After you make your written offer, the seller may: 1) Accept your offer on your terms; 2) Expressly reject your offer; 3) Let the offer expire automatically at the end of the stated time limit; or 4) Make a counter-offer which you may either accept or reject.
Typically, formal offers are sent by the buyer's broker to the seller's broker in writing via email. In some cases, a buyer will also write a personal note to the seller to send along with it. That letter is known as a house offer letter.
Always thank the seller for their time and thoroughly proofread what you've written. Decide How You Want The Letter To Look. Introduce Yourself. Share Your Love For The Home. Describe How You'd Live In The House. Explain Your Offer. Express Gratitude. Read Over Your Letter. Deliver The Letter To The Seller.
Your letter should explain why you're interested in buying the house and include details regarding your mortgage financing and expected closing date. Often, the key to writing the best offer letter is finding a way to connect with the seller on a personal level.
Real estate offer letter templates vary, but make sure to include the following elements: Introduce yourself professionally. Provide details of the offer. Explain the contingencies. Flex the financials. Close the deal. Put a signature on it.
If the buyer is not working with a real estate agent and does not have representation, the offer would come directly from the buyer. Represented buyers can also write their own offer letter and have their agent submit it for them.
Under the Cooling-Off Rule, your right to cancel for a full refund extends until midnight of the third business day after the sale.
