I had seen this question in an internet forum and I can’t really recall where I had seen it and I also had a client ask me the same question.
Can you make offers on multiple properties in Minnesota?
To answer the question, YES but there are certain disclosures when doing so. On line 43 of the Purchase Agreement, there is a question that states “This Purchase IS or IS NOT subject to the cancellation of a previously written purchase agreement dated ____________”. If it is, then there is a specific clause that requires a cancellation agreement of previous purchase agreement that must be obtained by a certain date decided on by both parties.
So, would I recommend it? Possibly on one, but never no more than that. It might be hard to cancellation agreements on more than one and at that time you are playing your odds.
Why?
Some buyers are having to wait months at a time to hear back from lenders on short sales. Buyers may have the time to wait to hear back, more than likely they don’t. Always be aware when making an offer on a short sale about the wait time. Nobody knows, each one is different.
