Set Your Offer to Expire
Whenever you are submitting an offer it is important to put an “expiration” time and date on your offer. This can help move the negotiations along as well as protect you from the seller holding out for another offer. I have found the longer negotiations drag on the quicker the momentum dies. You want to try to keep the sellers engaged in your offer so you can continue to work toward an agreement. I have seen sellers wait to respond because they are trying to hold out for a better offer. If you have an expiration date on your offer you are limiting the seller’s ability to “buy time.” I would also suggest putting expiration dates on counter offers as well. I usually recommend 24 hours for the initial offer and 12 hours for each counter offer.
