Can you bid on two houses at the same time?

Asked by hofymama, Hesperia, CA Thu Jul 19, 2012

I've been looking for a home to purchase since March. Each time I find something I'm interested in and make a bid, someone else gets it. I'm bidding the full asking amount and sometimes a little bit over. I'm getting frustrated!

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7
Debra (Debbi…, Agent, Livingston, NJ
Sat Sep 15, 2012
"It is funny reading answers from Agents out of state"

I am glad we provided you with a giggle.......

Actually, I find it funny when others answer older questions........and..... don't really answer the question that was posted...for example.........this person asked if it is possible to "bid on 2 houses at the same time"..........not when does the sale get funded, or when do you get your keys or whether attorneys or title companies handle the sales...........I also missed the part of the question that asked about whether the banks should have been bailed out or not.......

.silly me...I tend to try and answer what was asked!
1 vote
Scott Godzyk, Agent, Manchester, NH
Thu Jul 19, 2012
You can if you want to own 2 houses. It is wisest to bid on 1 home at a time, if you find another withdraw in writing, get it signed and then make an offer on the new home.
1 vote
Karen Sanchez, Agent, Apple Valley, CA
Thu Jul 19, 2012
Dear frustrated home buyer,

Currently we lack inventory in the high desert so there are multiple offers on many houses. 50% of houses sell for cash. It's tough out there right now to get an offer accepted. I'm sure it's no comfort for you but are in good company. Many of my clients are in the same boat.

It'll get better and you'll get your house and you'll forget all the frustration.

Remember your agent is working hard for you. We like accepted offers. We don't get paid till you get your keys.

This market is frustrating for all of us

But to answer your question directly, talk to your agent about it.
1 vote
Tim Moore, Agent, Kitty Hawk, NC
Thu Jul 19, 2012
I hear things like this often. You are searching for a deal of a house and there are many like you doing the same thing. You need a Realtor that can act fast, you need to have your finger on the trigger and you can't wait and think about it sometimes. Since you said you are offering more than listed price I am thinking you are going after bank owned homes and these can fly off the shelf when priced right. You need to get on them faster and with better offers it sounds like to me.
1 vote
Terry Bell, Agent, Santa Rosa, CA
Sat May 4, 2013
Have your agent print out a list of all the homes you looked at since March and see how much over the asking price did the house go for. The selling price isn't entered on the MLS until after the closing of the sale, so you need to review with your agent ways to improve your chances of getting your offer accepted. Sounds like you are not going over the asking price high enough.
0 votes
Hena Martin, Agent, Hot Springs, CA
Mon Feb 4, 2013
Depends what kind of sale it is i,,,,,in my opinion I would not advise it ,takes a lot of work from a listing agent to get you approved then be disappointed, Or make the agent aware of what you are doing .

Honesty is the best policy .HENA MARTIN BROKER 760-251-2868
0 votes
Debra (Debbi…, Agent, Livingston, NJ
Thu Jul 19, 2012
Instead of looking into making an offer on 2 houses at the same time maybe you need to figure out why you have lost out on more than 1 house - are you being aggressive enough with your offer?..........
What are the other terms and contingencies in your offers?

How much are you putting down?

On the homes you have lost - how much higher than your offer was the winning bid ?
0 votes
The couple that I really wanted were HomePath properties, which are 3% down. They needed work like holes in walls, missing a/c unit, flooring, garage door openers, etc. I offered $3000 over asking price plus I would pay closing costs. Still lost the house. This happened on two properties so far.
Flag Thu Jul 19, 2012
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