Buyer Step 6 - Sellers review the contract
The seller has now received the contract and usually has about 24 hours to review the contract and to make a decision. There are a few things that can happen though:
In a typical transaction, the seller only has three ways to respond:
That’s it – just three ways. If it’s accepted then yippee! Let’s move to the next step. If it’s countered, then we must weigh out the counter offer and see if it still meets your needs. If it’s rejected, we can try again – but something in the offer must have made them upset to where they don’t want to counter offer.
However, when the response comes back, we will have a set amount of time to respond.