Bidding on 2 (or more) properties at once

evolving_doors

Hi
Bid accepted for 1st property (putting a refundable deposit down on tuesday nxt week)
Viewed a very similar property this week and thinking of bidding lower than Property1.

Q1 Are there any legal implications to consider e.g. when does the offering process become legally binding?

Q2 Does it change anything from the banks point of view ?

Q3 Can you bid on as many properties as you like (assuming you have enough for refundable booking deposits!!) without any hassles.

Q4 Would you let the EA/seller know that you have other bids on other houses to get them to move quicker to accept offer earlier.

Q5 Would a surveyor give a discount for hiring them twice?

Alot of questions, but would also just appreciate any other insights on people who have experienced multiple bidding,

Thanks

Victor

Don't give yourself a reputation. Don't screw people around, but seek out value and keep your cards close to your chest.

When placing deposits make sure you check the conditions under which those deposits are made.

Armelodie wrote: »

Q5 Would a surveyor give a discount for hiring them twice?

Only if the work was largely the same, e.g. if you asked them to examine two identical houses (both are likely to have similar issues) or houses in the same neighbourhood on the same day (cuts down on travel). If they are two random houses and you are the only common denominator, a discount is only likely if they know you.

Supercell

Until you sign anything then you can bid as much as you like, even play one off the other.
Go for it, the only thing you have to loose is the extra you would have paid if you didn't play hardball.
Its not like you are going to be bidding after purchase a week later, sellers played buyers off each other during the bubble, no reason why it can't work the other way now.