Best Time To Submit Offer...

[schmick]

Hey Guys,

I'm just wondering, what's peoples general consensus on the best time to submit offers...

For example, assume a property is OFI on Saturday from 10:00am to 10:30am. You've inspected the place before, had the S32 checked by your Solicitor and are ready to make an offer. Would you submit your fully signed contract and deposit cheque directly after the OFI with a time limit of say 10:00am Monday morning?

My thoughts are this would allow enough time for the Vendor to consider and given it's a Saturday, unless any other potential party is ready to go, it's unlikely anybody else could move?

Alternatively, OFI on Wednesday evening, submit offer at 3:00pm Thursday and allow until 10:00am or 5:00pm Friday to accept? I've actually read somewhere that a 3:00pm offer with a 7:00pm acceptance is good because it is difficult for other parties whom are coming home from work, need to pickup kids, etc, etc.

Does the time really make any difference and how long is an acceptable acceptance timeframe?

 

[blaster]

Hey Guys,

I'm just wondering, what's peoples general consensus on the best time to submit offers...

For example, assume a property is OFI on Saturday from 10:00am to 10:30am. You've inspected the place before, had the S32 checked by your Solicitor and are ready to make an offer. Would you submit your fully signed contract and deposit cheque directly after the OFI with a time limit of say 10:00am Monday morning?

My thoughts are this would allow enough time for the Vendor to consider and given it's a Saturday, unless any other potential party is ready to go, it's unlikely anybody else could move?

Alternatively, OFI on Wednesday evening, submit offer at 3:00pm Thursday and allow until 10:00am or 5:00pm Friday to accept? I've actually read somewhere that a 3:00pm offer with a 7:00pm acceptance is good because it is difficult for other parties whom are coming home from work, need to pickup kids, etc, etc.

Does the time really make any difference and how long is an acceptable acceptance timeframe?

Hit em before noon while they're still asleep !

No I don't like time limits myself. I know it's contrary to advice but I sort of feel the owner having time to get reality into perspective can work both ways and pushing can sometimes backfire , it's a big decision.
I do usually mention though I have others in mind also, or similar, for the slight nudge effect.

Cheers

 

[RumpledElf]

I'm country and tend to be most interested in dubious houses that have been for sale for a very long time, so no rush there. They never get back to you within a few hours anyway unless you just happen to have rung up abotu a house that is going to sell within 48 hours, so why not allow a week for your offer to expire?