How many offers can you put on different houses in one day

Question

tomorrow we r going house hunting and we are going to look at different houses do we have to put only one offer on a house at a time or can we put in more offers on all the houses that we like thanks

Answer 1

How many can you?  Well, there's 24 hours, each offer will take you an average of about 20 minutes to write (the first few will take longer, the later ones you'll just be changing the address in the computer and leaving a bunch of other stuff blank because after about 15 hours of this, you really won't care anymore).

24 x 3 = 72 offers in one day.

Answer 2

DeeAnna is right about the Earnest money.  However there are a couple things you can do so you can bid on more then one house.  

If you work with a real estate attorney, you can put a clause in the offer that the offer is subject to the real estate attorney's review for 48 hours after the offer is accepted.  

If you do that and you get your offer accepted then the real estate attorney can find something wrong even stating that he believes the market is too low for the price agreed upon and you get out of the offer. I use a title company where the guy that runs it is also an attorney so he protects my escrow (earnest money) well.

Another ploy is to make low offers.  Right now most sellers will come back with counter offers because it's a buyers maket.  At that time, the contract offer is no longer binding because they said no to it so you can then bid on the house you are most interested in.

Don't get crazy with this though.  You can get burned.  Select a house you like the best and put an offer in on it.  Then go to the other house.  Houses are not selling that fast right now so you should be able to have enough time to make the offers the correct way.

Answer 3

Most offers are a written agreement of intent to purchase and require an "earnest money" payment from you to the seller.  Should the seller accept your offer, then you decide you don't want the house the seller may be entitled to keep your earnest money payment,depending on the terms and conditions of the written agreement.

I would review all the houses, then make an offer on one house at a time, otherwise you may chance loosing "earnest money" payments to the sellers.

Good Luck To You

Answer 4

Writing and working up an offer is alot of time and effort so if you are trying to do this thru a realtor you will create one annoyed realtor who may very well even refuse to do it.  If you are writing up the offers yourself - go ahead, knock yourself out (but it will certainly take you alot of time too).

Of course if you do write up more than one offer you'd better either be willing to buy both properties if both offers were accepted or have a bullet proof exit clause (ie if both offers are accepted you can easily get out of one or both of them).  A good exit clause could be a very open ended inspection clause (that doesn't even require you to hire a licensed inspector and says you an pretty much drop the offer if you don't like the paint color), or you can do the old 3rd party approval.  Ie Offer contingent upon approval of relative/ friend/ lawyer/ dog - whatever.

Answer 5

You are setting yourself up for a lawsuit if more then one offer is accepted.

You are better doing one at a time.    Why generate all that paper and be out all of that earnest money?

Answer 6

Every contract/written offer you put on a house, you also have to put a deposit with a contract.  It would get pretty expensive to give multiple offers.  Also, say you like 5 houses and put contracts on all of them, and all of them are accepted, you are a 5 house homeowner.