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Updated almost 8 years ago on . Most recent reply

User Stats

101
Posts
23
Votes
Kenneth Kussman
  • Investor
  • Irving, TX
23
Votes |
101
Posts

Multiple offers in Texas

Kenneth Kussman
  • Investor
  • Irving, TX
Posted

In Texas if I have it right, when you make an offer as a buyer, and the seller accepts, next step is Buyer gives Seller good faith amount of money, and seller agrees to a 7 to 12 day period for inspection.

If for any reason Seller does not want to go through with the transaction, and the decision is made prior to the agreed number of days. Seller has to refunds the money and that's the end of it.

If I found 5 properties I was interested in at the same time, gave all sellers good faith money so I can have say, have 10 days, to look at all the properties.  Is it safe to save if I decide to buy one and not the other 4, I would get all my money back from the sellers I didn't choose as long as it is within the grace period agreed upon? 

Is this right ?

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