Sometimes, in a hot market, buyers are anxious to find the right home and occasionally the right home could be at two or more locations.
One strategy that can be used is to make offers on more than one property simultaneously to make sure you don’t miss out on an opportunity to bid.
Now, the question becomes are you also willing to risk the chance of more than one seller accepting your offer at the same time? This is rare but if more than one seller does accept your offer the buyer must remember that they have a contractual obligation to perform, and if there are any deposits due the buyer has a legal obligation to transfer funds according to that agreement.
So, buyers may want to take advantage of this strategy but only as long as they’re also willing to put some money at risk.