Is it better to have multiple offers out on homes? My husband and I currently have an offer on a short sale home and as expected we're getting
little information back from the bank. The property has a few other offers on the home as well. We're wondering if it would be better to put out multiple offers on homes (short sales, bank owned, for sale by owner, etc) or not. We're worried that having too many offers and earnest money checks out is a risky move. We don't qualify for the $8k credit so we're in no hurry to buy but have been approved for a USDA loan and are looking at our options.
If I were your agent, I would recommend only one offer at a time because if you have multiple offers out there, one or all could be accepted and once accepted you'll be expected to fullfill the contract.
Misty Collins
SilverPointe Properties
http://www.silverpointe.com/mistycollins
615-557-8574
Better than what?
Is the idea to find yourself in contract to buy multiple homes?
Be careful about having too many offers out at once. Make sure that you know all the facts of the contract and what your ways out are. If you miss a contingency deadline, you could end up buying more than one house.
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