Making multiple offers to buy with the intention of buying just one

googler

Random_User_Name wrote: »

Problem is, when does one "offer" end?

In Scotland, at least, it 'ends' at the the limit date specified in the offer letter. Offers aren't offers unless made in writing, and typically will included a phrase such as;

"If not accepted by 5pm on 14th February this offer will be assumed to be withdrawn"

The offer to purchase forms part of the contract between buyer and seller. Once you formalise it like this, it takes away all the doubt about verbal offers, who said what, who accepted or rejected what, etc. Also, since it forms part of the contract, solicitors won't submit multiple offers on behalf of buyers as that could potentially commit them to more than one purchase - which they're unlikely to be able to afford.

This also removes the scenario where a buyer offers, then the seller sits and waits - not accepting, not rejecting, with the buyer not knowing where they stand.

BugglyB

What I did: make your offer to the estate agent on one property, and tell them that you have other houses you are interested in, so if you dont hear back from them by close of business the following day you will assume your offer has been rejected and bid elsewhere.

Its unlikely you will miss out because of 24 hours. I dont see why there would be a need to bid on multiple properties on the same day, not in this market.

chris0_2

Thanks all for your replies. Sounds like it's best to only have a single offer on the go at any one time, however, interleaving the individual offers on multiple properties sounds a good and reasonable way to proceed.
Cheers.