making an offer-Do I get to counter offer?

amyjo5995 · Joined: 15 Feb 2008 Posts: 1 Location: Illinois

Hello,
I am in the process of making an offer on a house. In fact, I made an offer and signed a contract and put money down on this past friday. Today, I hear from the selling realtor, though I'm not sure why he called me and not the realtor that I'm working with, and he said that yesterday he got a "hard ball offer" on the house I'm looking at. I called my realtor, and they didn't know anything about any other offer. Anyway, my question is this, if there was another offer-1-since my offer went in on Friday, can someone just swoop in and knock me out without any warning to me? and -2- if they did, will I get a chance to come back with a higher offer? I didn't have an official "accept" on the offer that I made, but I'm so close, I hate to miss out on this house.
Thank you for your help.
Amy

DreamHouse · Joined: 06 Mar 2008 Posts: 4

I am about to purchase my first house and am new to the house buying process as well. From what I understand, sellers can get multiple signed contracted offers and only reply to one if he wants. Even if you give him a time limit to respond, he doesn't have to. It sounds as though the sellers agent is trying to put pressure on you to increase your offer. I would question why he contacted you instead of your agent. Although it could be true and in order to get the house you need to submit your higher offer...if this is your dream house. I would talk with my realtor and ask for her advice. I would think that the seller would counter offer you based on his other higher offer. Or maybe he just wants to see how high you will go. Did you put a time limit for your seller to respond? It's very nerve racking having to wait, and wait, and wait for them to give you an answer. From my experience, it has always been a counter-offer.