If you make an offer on multiple properties and they accept at the same time, then what? (CA) (contingency, agent)
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Your agent can write into the contract "Buyer submitting offers on multiple houses, but only intends to buy one." It might deter the sellers but keeps you out of legal issues...if you keep your contingency periods intact.
And, you can write a contract with a short acceptance period. Perhaps 24 hours. That let's you move on to the next before you lose out on it.
IF you really feel that you must submit multiple bids at the same time, you could drop your offer price on both below what you are willing to pay (by the amount of the deposit and perhaps, the inspection cost). That way, if you must 'bail out' on one, after the inspection, you will not lose the money ... and the owner will be compensated. On the other hand, if one accepts and the other declines, you will get a house you want, at a lower price.
Another strategy, is to simply offer much less than the asking price on both -- and wait for the sellers to counter-offer. Then choose the one that seems the most favorable to you. If both decline without a counter offer, you will be back to square/strategy one - Otherwise, you will have both a lower price AND a way to make two offers at the same time.
In Florida, our "as-is" contract contains the right for the buyer "at his sole discretion" to cancel the contract during the inspection period. I can't imagine entering into a contract as a buyer that was unconditionally binding.
As a fellow Florida Realtor, multiple contract offers are not unusual. Until the contract is accepted by both parties and escrow has been deposited there is no appreciable risk for the buyer IMHO.
Generally speaking, you just bought two properties.
Realistically, don't most states have a 'buyers remorse' period during which you can pull out for whatever reason? A week or ten days?
Otherwise, you should know that if you agree to purchase two properties, you have entered into a contract, to which you can be held.
Really dumb idea if you can't/don't want both properties.
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