Multiple offers at once?

[dischris11]

I am in the process of trying to find my first dvc contract. I made an offer on one, they countered, and I countered back. There are other contracts that I'm equally interested in. Does it make sense to make offers on some of those too to see if you can get a better deal? Or do you do one offer at a time? I was expecting the offer process to go quickly (like completed within a day) but it's not that quick.

 

[Meglen]

I would imagine it's like buying a house. Everything is pending till a contract is signed. They are in competition to sell there contract, they might also have multiple offers on any contract you are putting offers in. If there a multiple you are interested in I would say put in offers.

 

[Theta]

How binding is an offer? If the OP puts an offer in on contract at say SSR and the seller accepts it, but then she gets another offer accepted at OKW (which is a better deal), can she go back to the SSR seller before the SSR contract is signed and say, "Sorry, even though a price was agreed upon, no thanks."?

 

[Bobby2443]

I think its fair game until you become at risk of losing your deposit by backing out

 

[Jmazzuca243]

Florida law gives you 10 days following contract signing for the buyer to cancel the agreement without penalty. I had put an offer on a VGF contract, signed, and canceled on the 10th day because a better deal became available on another contract. My agent told me people do this all the time

 

[Matty B13]

Until you sign a contract, you are free to do what every you want. You also have 10 days after signing to back out.

 

[princesscinderella]

I think it’s ok to make multiple offers. I typically wait 24 hours before moving on to the next one. I just recently had bid on a BLT and had made and offer the the sellers countered and then I countered and never heard back on a Friday. I moved on to a different contract on Saturday since I never heard back from the agent and got a deal accepted and a contract in my email later that evening. On Monday morning the other agent from Friday called me back with news on my offer and before I could hear if they accepted or not I told her I already signed another deal because I never heard back from her. The contract sat there and the deal that I signed was bought by Disney so I went back to the agent and gave the first offer they countered at knowing they would accept and it was a few dollars higher than I wanted to pay but I’m tired of not passing ROFR and now that one is in the hand of Disney.

Some brokers work quicker (I’ve worked with 3 different ones since January) than others so if it fits all your wants and needs or has bonus points I think it’s worth it to wait a bit. A call to nudge it along saying you are going to offer on a different one can’t hurt either.

 

[Yinn]

I am in the process of trying to find my first dvc contract. I made an offer on one, they countered, and I countered back. There are other contracts that I'm equally interested in. Does it make sense to make offers on some of those too to see if you can get a better deal? Or do you do one offer at a time? I was expecting the offer process to go quickly (like completed within a day) but it's not that quick.

How quickly they go sometimes depends on the broker and even then the seller can choose to take a while to respond. There's no harm in making multiple offers, know your options.

An offer is just that, intent to buy but not a hard commitment to do so.

Even after you sign a contract you have a cool down period to back out.

Even after that period you can back up, but you may be subject to penalties. Doesn't sound appealing but might not be terrible if you find a contract that's cheap enough to cover the difference.

 

[Salf777]

So I bought my first contract not long ago and made a few offers. One company (won’t mention names and if they way i word this isn’t allowed please remove) seemed to have a computer generated make an offer system which I found great in my opinion. It was late on a Sunday evening and I made multiple offers that evening thru other reputable companies. So I came to an agreement on the contract with the computer generated system and the process was started. The other 2 I didn’t receive a response on one until late Monday and the other was Tuesday.
Now once again I have made offers on 2 more contracts thru the traditional manner thru 2 reputable companies. This was yesterday around 4 in the afternoon eastern times. One had a spot on the listing to make an offer which I did the other company just had a “request more info” button and the list didn’t even have a reference number or anything. I received the automatically generated emails one Company responded this morning no word from the other yet.
personally I prefer the computer “bidding “ type system I don’t need to actually speak to a broker. As a matter of fact my first contract I never actually spoke with any person just via email.
so I guess what I’m long windedly trying to get to is I believe It’s ok to make multiple offers because as A buyer I don’t have the patience to wait for one company to respond in case they are slow when you could lose a contract elsewhere
again I’m not plugging for any firm or disparaging any company that’s why I don’t mention names this is just how I liked doing business it may not be right for everyone some people prefer speaking to someone live and I understand that. This is just my experience and my likes not trying to provoke anyones preferences or poke any bears here! LOL