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If your home is for sale and you receive an offer, it’s best to accept, reject or counter it promptly. Even if there’s no specific deadline in the offer, homebuyers can and do cancel. If there is a reason for sitting on an offer then let the other party know what is going on. Let them know when they can expect a response.
Remember, an offer in hand is worth more than potential future offers. If the offer doesn’t meet your expectations, don’t hesitate to make a counteroffer. Rejecting an offer works better than trying to wait it out.
Buyers should respond promptly to counteroffers. Don’t play a game of “we had to wait, now they can wait”. That just causes hard feelings and can make the home-buying process harder.
Both home buyers and sellers sometimes believe there is a special way to “game” the process of buying or selling real estate. After working with hundreds of clients, I have found that the best way to handle any transaction is to keep it simple, have open communication, and to always be honest.