Can you offer on more then one house?

[NewKidOnTheBlock99]

Hello,

So we viewed two houses over the weekend and loved both - we would be happy with either house even though they both have different pros and cons and are very different. We are under offer from first time buyers and very keen to get something else so we don’t lose them.

We will be offering around 5% under asking on both as they are both over budget so chances of getting either is quite slim , the one that we like ever so slightly more is definitely the more appealing one with a lot more competition so we don’t think we are in with much of a chance but equally we don’t want to miss out on the other one which I think we are in with a better chance of.

Can we offer on both? They are on with different agents. Or I was thinking maybe tell house 2 we are going to offer and try and string them along a bit until we know if offer is accepted on house 1…

Charlotte - that is not correct! EA's dont immediately let other agents (i.e the competition) know they have received an offer from you. Especially in the very early stages of presenting offers.

Most people when they receive an offer will either respond immediately or within 24 hours if they need to discuss and think about it.

Just thought I would send an update as might be helpful as I see it’s a bit of a topic of discussion!! Interestingly this isn’t the first property we’ve offered on but the first time this has happened…

Put an offer in on house 1 and before they send it over they are checking with our selling agent that we are in fact under offer!! So some of you are absolutely right - so if we immediately offer on house 2 there is a chance that they could do the same and we look unreliable.

House 2 I am going to try and drag the process out a bit as we should hopefully hear back from house 1 today!

Interesting. You could tell the sellers of house 1 that you are interested in a second property so would appreciate their prompt decision. Hope you find out soon either way.

Yes, they've checked you're under offer. Doesn't mean they will tell them you've offered elsewhere. Estate agents of house 1 aren't going to contact your agents again to let them know if they turned down your offer. If you offered on house 2 tomorrow, your estate agents would probably assume house 1 turned you down so offered on another and wouldn't mention it to house 2 estate agents.

Your estate agents work for you, if you don't find somewhere to move to, they aren't getting the commission from your house sale.

Exactly

Except it’s not.

I’m a former EA. EA’s talk to each other all the time during conveying and will swap info on potential buyers who are seen to be messing about, which multiple offers is. Whilst conveyancing doesn’t start until the offer has been accepted, there’s every chance we’re talking to the other EA due to conveyancing on a different property and swap info. The posters who advise you to make simultaneous offers are doing so badly. I’ve had buyers wondering why their offers never get accepted and it’s due to this kind of behaviour. The EA is looking out for their Clients, which is what they’re paid to do.

You should be transparent about what you are doing with the EA's. Perhaps in the good times the EA's could have been sniffy about it, but those times are gone. Any EA trying to hide valid offers is risking their registration.

Where are you? In Scotland absolutely not. We have excellent laws that once you offer it costs money to withdraw. Hence an offer almost guaranteed a sale and move with 8-10 weeks. We had a nightmare selling in England so I guess there you could.

What happens if you pull out of an offer after you have instructed conveyance?

My vendors has not returned any forms . The memorandum of sale hasn’t been sent from their estate agents either so I am wondering whether to look elsewhere

I have already paid a deposit and instructed a solicitor though

I have already paid a deposit and instructed a solicitor though

You wouldn't normally pay any deposit until exchange of contracts. Why have you had to pay one so early in the process?

“I have already paid a deposit and instructed a solicitor though”

for searches I believe

Indeed. It's always best to listen to people with direct experience rather than people who just say 'oh no they wouldn't do that'.
I'd tell everyone the truth and be open with them- I'd offer on the one I liked best, but be straight with the second vendors, tell them I had, explain it was a very close decision, and that if my offer was not accepted or I found a problem with house#1 I'd hope to offer on theirs. I don't see any problem with that.
The thing about being truthful and open with everyone is that you can never get 'caught out'. And people know they can trust you.

I'd make offer on one but state I need an answer by the end of the next day and for vendor to stop all viewings. If you don't hear back they accept those terms then offer on 2nd house. I'd not have an offer on both at once.

That would be a breach of data protection law and illegal. EA should not be gossiping with other agents in the area and passing on personal details of their paying clients. No wonder the profession has such a poor reputation.