Home Buying in Los Banos>Question Details

Lucy, Home Buyer in Los Banos, CA

Can I make two different bids on two different homes at the same time?

Asked by Lucy, Los Banos, CA Mon Aug 4, 2008

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5
Just remeber they could both be accepted and an offer is binding!!! Proceed with one, then follow up on the other if that does not work out- Unless you can purchase both!
0 votes Thank Flag Link Wed Aug 6, 2008
Proceed with caution.....make sure you have a good agent who is well versed in the California RPA and is on top of the timelines!
0 votes Thank Flag Link Tue Aug 5, 2008
I had a client years back who was a relocating executive and needed to get an answer before he left town. We wrote three offers and when I presented the first one I told and showed the Sellers my two other offers. I made it perfectly clear of the expiration of the offer on their home, when I was presenting the other two and if they wanted their home sold now they should consider accepting his offer.
Our contracts used to have the phrase, "upon presentation" for offer expiration. I used to get tons of flax for doing this but would retort the Seller probably KNEW what they would take for their home and could make a decision that night. I never got the other two offers presented as they accepted his reasonable and fair offer. Lowballers pulling this would probably be told to present the other two!! Nowadays most offers are increasingly being 'faxed" on over. So a cover letter works. You won't pull this with a REO.
However, presenting offers without disclosing could be considered "negotiating in bad faith". This seems to be very common with the "short-sales" out there. Present offers, let them sit around for a few months and walk when you find a more cooperative Seller. Just be careful about contract obligations if someone accepts!! You just can't "change your mind" to get out of a contract!
0 votes Thank Flag Link Tue Aug 5, 2008
It's probably better to do one at a time, but you can make more than one offer at the same time. I recently received an offer on one of my listings from another agent (on behalf of his buyer) which did exactly that. In the paragraph for "other" (i.e. fill in the blank), was written the following: Buyer is making multiple offers. If one offer is accepted, the others become null and void immediately.

The situation with that buyer was that the offers he was making were extreme "low-ball" offers, so it would have been surprising if any of the sellers had accepted. My seller was extremely offended, not only by the low-ball offer but by the buyer's multiple offer scenario.

The thing you want to guard against is being committed to buying two homes if both offers are accepted.
Web Reference: http://www.JudyLuna.com
0 votes Thank Flag Link Tue Aug 5, 2008
Hi Lucy,

If by bids you mean offers, yes you may as long as you disclose to all parties that you have a pending offer.

Homa
Broker Associate
Prudential California Realty
0 votes Thank Flag Link Mon Aug 4, 2008
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