Is there a law stating how long it should take for a seller to reply to an offer on their house?

Asked on January 3, 2013 under Real Estate Law, Illinois

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

No, there is no law on this subject; the offer remains open until rejected or withdrawn, which means that the seller can "wait" on it for a long time, to see, for example, if a better offer comes in. If you don't want to be held in a position where the seller could suddenly, after you've moved on (e.g. found a different house) try to hold you to the offer, you should send something in writing indicating that the offer is only good until such and such date, in order to force the seller to act on it, or at least give you closure.


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