Is it illegal or unethical for a Buyer to go under contract on multiple properties at the same time?

?No. There are no laws or rules that prohibit a buyer from making offers on more than one property at a time. Similarly, the Code does not bar a license holder from representing a buyer making simultaneous offers on multiple properties. If the buyer has a termination option for all three properties, he or she has the contractual right to terminate two—or all three—of the contracts within the termination option periods. However, there is a risk involved that the buyer needs to be aware of.?If any of the option fees are not paid within the time prescribed, it may be deemed that the buyer does not have a valid termination option. In that case, the buyer may not have the ability to terminate one or more of the contracts, which could leave the buyer contractually obligated to purchase more than one property.?Of course, there are other avenues for a Buyer to terminate a contract, but exercise?caution in utilizing this approach.?

I hope you have found this information helpful.?If you have been thinking about selling and would like to know what you could sell your home for in this hot market, give me a call at 214-454-6969. Homes are selling well above list price with multiple offers and full appraisal waivers.

Sherry Cabrera, 214-454-6969?[email protected]?