Placing Multiple Short Sale Offers

**nuglas** · 07-27-2009, 10:51 AM

Due to the current market (San Diego, CA), and the banks large back-log and slow processing time on Short Sales, my real estate agent is suggesting that I place multiple short sale offers on different properties.

Is this a normal practice? Are you still able to pull one offer if the other one gets accepted? I don't want to get stuck with two accepted offers!!

Thanks

**RedCarpetSchool** · 07-27-2009, 11:12 AM

Its hard to get stuck with to offers being accepted at the exact same time. In most state you can withdraw your offer at any time before the Seller responds. Even then most likely there will be some kind of out or counter offer made to give you a way out of the contract that you think is less of an opportunity. The only time I see this being a problem is getting multiple offers accepted and under review by the banks. It would be a lot of earnest money out there on the line.

**ohioreoexperts.com** · 07-27-2009, 11:31 AM

An offer isn't accepted until it has been signed and ratified by both parties. Up until that point, you can walk away or withdraw. After signatures, you're bound by the terms of the contract. Putting expirations dates on your offers might be a way to limit exposure, the main risk you're running is that every offer you make will not be countered and accepted. Unlikely but not out of the realm of possibility.