All Forum Posts by: Dale Miller

Right now month to month is not bad because of the eviction moratorium.  You can always non renew and MTM lease.   However, good tenants on a year lease provides some stability  If you are looking to borrow money the banks like a longer lease as well

Depends on the state, but month to month contracts are usually just that, month to month. The landlord can raise rent for the next month (depending on local laws), and if you don't like it, you can find rent elsewhere.

Month to month leases are generally expensive because there is no certainty on either side.

If it's accepted or countered, yes they do.  Otherwise, how else would you know?  If it's rejected, I don't think they "have" to, but it's commone courtesy.

Federal or state by state law?

3 offers this year alone with no confirmation of receipt  

They only need to confirm receipt. 

Last month put in a full price cash offer 5 day inspection 

no reply. 

Records show it sold for less than half the ask 

hmmmmm

@Dale Miller  "Have to" and "should" are two very different things.

The listing agent doesn't have to respond to your offer at all.  But if it's written properly (with a short expiration date and time), it will no longer be in force by X:00 on XX/X/202X. 

Remember that the listing agent is a fiduciary to the seller.  They have to do whatever is in the best interest of the seller, regardless of how that impacts you as the buyer - you're not their client!

You or your agent should be pushing for a response from that listing agent prior to the expiration of your offer.

However, if the property is in a hot seller's market, the listing agent may tell you to go kick rocks to see if a better offer comes in.

If it's not an extremely competitive market, you could consider offering $XXX,000 but if the offer isn't accepted by [date/time] offering less.  Gutsy move if you're in a competitive market, but it might pay off.

In the first two cases, yes otherwise how are you going to know to counter or to proceed with the deposit and purchase?  If it was rejected, common courtesy for them to let you know not to mention they should be professional and let you know regardless.  

They SHOULD communicate, but it may not be mamdatory. If you throw out a bad offer, it's common for the Seller to feel it's a waste of time to even respond. 

If the deadline is approaching and you haven't heard anything, contact the listing agent and ask for a formal response, even if it's "Get lost!"