Seller offer deadline opinions

[August Olgren]

Hi all,

Quick question for opinions....when selling a flip, so you prefer to have listing open ended or put in an offer deadline? And if you dont mind, any reasoning would be appreciated.

On my first rehab, I listed without any time frame and accepted an over asking offer on the first day. As I am about to list my second, my realtor is suggesting putting on a deadline, list friday and offers accepted until monday.

What is the consensus of "standard practice"?

Thanks for your advice

[Theresa Harris]

It depends on your market. If things are selling fast with multiple offers, set a date for offers.  Of course this can backfire if you get no offers.