Can vendors accept more than one offer?

[speckledpig]

Went to view a property today that we were very interested in. EA states 'offers over £250'. EA told us that two offers had already been accepted but we were in a good position as we had nothing to sell and apparently the others do. We put in an offer for £252.000 after the viewing not thinking too much about the other offers or what it entailed.
We havent had a reply yet, but I wonder why if they have already accepted offers why they are still looking for more offers and still doing viewings.
Is this going to become a contract race?
How long should we wait around to get a reply? (I know it can take days,weeks but what is an acceptable time to wait around knowing other offers are on the table?)

If they don't get back to us tomorrow, how long should we give them to respond do you think? I do doubt that the others had offered over £250k if they knew about the stamp duty no? If they're in no hurry to accept £250k then we are doubtful they will when they hear we have reduced the offer. We have been honest though and said exactly why.
There are other fish in the sea.

When we bought this house 6 years ago the estate agent told us that the house would stay on the market until we had had a survey done. Never heard of that before, but it seems a good idea. Now we are selling I'm going to insist on that too. If buyers have some financial investment in a house they tend not to mess the vendor about. It sounds to me like your vendor has had offers but hasn't really accepted them or proceeded with them.

I didn't think estate agents accepted an offer if you hadn't sold your own house (subject to contract that is). But it's years since we bought and sold. An offer if you haven't sold your own is pretty meaningless. I suppose it depends on how keen the vendors are to sell. If they're not in a hurry maybe they're prepared to wait. I suppose it's not unusual not to get a reply over the weekend. But you should have had a reply by now.