Making offers on multiple properties

[Nick Scalero]

I expect to be making offers in the near future on multiple properties but can only afford one property. I'm thinking I need to put a contingency in the contracts stating that the offer may be rescinded upon acceptance of one of the other offers and that any ernest monies will be returned. Is this legally permissible and how might I phrase it?

Thanks for your feedback in advance..

[Lakia Hasenjaeger]

The best and easiest contingencies to use for REO puchases are the inspection and I'm not trying to be funny but just make the deadline to the response on the offer a couple of days. Banks never respond by the deadline and now you have a valid reason to walk away.