Legal Question in Real Estate Law in Iowa

If I make an offer for a house and the seller counters, how long do I have to accept, reject or make a counteroffer before they can look for another buyer

Asked on 6/27/15, 6:30 am

2 Answers from Attorneys

Lana Luhring Laird & Luhring

The counter offer should provide a designated time it has to be accepted or rejected by ... review the document.

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Answered on 6/27/15, 2:35 pm
Thomas Moens Moens Law Offices, Chartered

As long as the counter-offer specifies. Absent a specified length of time, you would have a "reasonable" amount of time. How long is reasonable? Unfortunately, that depends on who is making the decision. I would suggest that you hire a real estate attorney to represent you in your purchase. Only your attorney has an ethical duty to look out only for your interests.

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Answered on 6/29/15, 1:25 pm

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