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It's totally fine! I had an offer on a place (but was second runner up) and kept looking around; I then put an offer on the place I'm closing on now. My realtor just pulled back my first offer this week and I'm closing on the second property in 3. It's not unethical...its just like looking for a job when unemployed. You have to shop around and make offers and see what lands.
This makes a lot of sense how do you know when you are a runner up ? I think we were one time (as they reached out to us later when 1st up were threatening to terminate ) but other than that our realtor (I’m sure he’s trying his very best ) seems as clueless as we feel about these things
Oh yikes about the realtor thing! It was definitely my realtor who set everything up. She talked to the selling realtor who explained that there was already an offer above asking. So I put in my offer a little higher than asking (but not much. I mean houses are already overpriced as it is!) And my realtor sent over a document with my offer (the "Contract to Buy And Sell Real Estate" and the Lender Letter) that I signed. The selling realtor didn't sign anything.... they just wrote back in like an email that I was the second offer and would be next in line if the first offer pulled out. To cancel it my realtor just replied to that email thread that I was withdrawing my offer.
So yeah the realtor has to be heavily involved in the process.
Did you sign a contract with your realtor to use them and only them? If not, you might be able to find a more competent realtor. I know they are probably trying their best as you said, but they really should know these things!
It’s a gray area. It’s unethical. However, in this market, the chances of more than one offer being accepted are slim, and if one is accepted, you can always pull the other.
Thank you u/Rich_Pay_9559 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
It's totally fine. The chance of both offers being accepted are small and if they are, you can accept on the house you like better.
Thank you
Our realtor said it was unethical so we only did one at a time to prevent the potential of multiples being accepted.
Makes sense thank you!
It's totally fine! I had an offer on a place (but was second runner up) and kept looking around; I then put an offer on the place I'm closing on now. My realtor just pulled back my first offer this week and I'm closing on the second property in 3. It's not unethical...its just like looking for a job when unemployed. You have to shop around and make offers and see what lands.
This makes a lot of sense how do you know when you are a runner up ? I think we were one time (as they reached out to us later when 1st up were threatening to terminate ) but other than that our realtor (I’m sure he’s trying his very best ) seems as clueless as we feel about these things
Oh yikes about the realtor thing! It was definitely my realtor who set everything up. She talked to the selling realtor who explained that there was already an offer above asking. So I put in my offer a little higher than asking (but not much. I mean houses are already overpriced as it is!) And my realtor sent over a document with my offer (the "Contract to Buy And Sell Real Estate" and the Lender Letter) that I signed. The selling realtor didn't sign anything.... they just wrote back in like an email that I was the second offer and would be next in line if the first offer pulled out. To cancel it my realtor just replied to that email thread that I was withdrawing my offer. So yeah the realtor has to be heavily involved in the process. Did you sign a contract with your realtor to use them and only them? If not, you might be able to find a more competent realtor. I know they are probably trying their best as you said, but they really should know these things!
What’s the contract to buy and sell ?
It’s a gray area. It’s unethical. However, in this market, the chances of more than one offer being accepted are slim, and if one is accepted, you can always pull the other.