Asked by Joanna, Chicago, IL • Mon Jun 16, 2008
I live in IL and made an offer on a short sale property on May 24th. The bank needs 60-90 days for approval, but I put on the offer a closing date of July 15th, with the hopes that I might here back sooner. As I was waiting, I started looking at other properties, and I have seen another property that is already foreclosed and bank owned that I want to make an offer on. It says the response times are 24-48 hours.
If my offer on the 2nd property is accepted, I will withdraw my offer on the 1st property. I would rather have the 2nd property.
Can I make an offer on this 2nd property while I am waiting for the 1st property?
Or do I have to withdraw my offer on the 1st property before I can put in an offer on the 2nd property?
Thanks in advance for any information on this situation.
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