how many offers can you make on a house in california?

Asked by Urbanista, Hercules, CA Mon Feb 21, 2011

can you make make more than one offer on multiple homes

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Philip Cabral’s answer
Philip Cabral, Agent, San Jose, CA
Sat Dec 8, 2012
There isn't a contract until after an offer has been accepted, or in the case of a short sale an approval by the lender(s) and the earnest money deposit has been given by the buyer. In a short sale, an approval by the lender(s) can take as long as a year. So, it is wise to make offers on every home that interest you and then accept the one that you like and cancel the rest.

I am an agent, but I am a homeowner first. I have purchased homes in California, Hawaii, and Portugal. Let's talk Real Estate. Let me know if I can be of any help.
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Vincent Paige…, Agent, Orlando, FL
Fri Dec 7, 2012
How much time you got? You can write and unlimited amount of contracts on a home.
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Steven Ornel…, Agent, Fremont, CA
Mon Feb 21, 2011
Urbanista: Yes.

The simple answer is you can make as many offers as you like IF in each offer you specifically disclose the fact you may continue to submit an offer on other properties until one is accepted, and based on your acceptance of an offer any other outstanding offers will then become immediately void. Such a disclosure satisfies the “acting in good faith" test.

Understand the efficacy of this strategy will heavily depend on the status and relative supply of homes in the area you are purchasing in. The greater the supply the more likely this strategy may work for you. In regards to the status of the property, your probable success rate (highest to lowest) will be Non-distressed -> REO -> Short Sale.

Best Steve
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Michael Young, Agent, San Francisco, CA
Mon Feb 21, 2011
As long as you have the intention of following through with the purchase(s), you can make as many offers as you wish. Making offers without good faith is unethical and possibly against the law. Work with a good Realtor who can advise you how to get the best deal AND keep you out of trouble.
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Marston Myers, , Brandon, FL
Mon Feb 21, 2011
When dealing with Short Sale and REO properties, all time frames begin when you have an answer from the Bank, therefore you have 72 hours to deposit your good faith funds and ratify the contract.

It is wise to make multiple offers on the homes that interest you and then accept the first one that "pops" and cancel the rest. Many listing agents will not even tell the Banks that the Buyer has fallen out in an attempt to get an "approved" offer and price with which to move forward and stop the guessing game. (I, of course, do not know this from personal experience but people talk....you hear things....;)

There is no legal limit but your Realtor will be working hard on each offer so keep that in mind!

If you are offering on "regular": homes this is a different story. The turn around time for an answer from the owners will be hours or a couple of days max. Making multiple offers in this situation is hard on everyone and really has little benefit to you.

All the best!
Web Reference:  http://www.aprpconline.com
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