Are you allowed to submit multiple offers on different houses at the same time?
While this might not be something that I recommend most people do, in a sellers market like we’re in right now it can be a strategy you can use if you understand the risk.
When a contract is executed (signed by seller and buyer) here in Texas, the buyer is required to deliver the option fee and earnest money deposits within the first three days. If you were to go under contract on multiple properties at the same time, you would need to be prepared to deliver the option fee and earnest money for ALL of the houses within the first three days no matter what. Most people are not prepared to do this. But if you have the financial ability to do it, and you understand the timeline and requirements, then it can be a way to make sure that you have the highest chance of getting one of the properties you’re interested in or to have the ability to do inspections on multiple homes at the same time and decide which you prefer. Keep in mind that you will lose the option fee money for any of the contracts you terminate, and it will take a few days to get refunded back the earnest money.
Essentially all of the requirements for one contract apply to all of the contracts and you’re obligated to meet those requirements once the contract is signed.
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