Has The Toronto Bubble Finally, Popped?
Technically, you can submit offers on multiple rental properties simultaneously, but it is not advisable. A reputable real estate agent will likely discourage you from doing so. Here’s why:
If two or more of your offers are accepted simultaneously, you could be contractually obligated to lease multiple properties for the same period. This situation can lead to significant legal and financial complications.
Instead, it’s best to focus on one property at a time. If you have two properties you’re interested in, prioritize the one you prefer and submit an offer within a reasonable short, irrevocable time (expiration date/time for your offer). If the first offer is not accepted, you can quickly proceed to make an offer on the second property.
This approach ensures that you remain within legal boundaries and avoid unnecessary stress, making your rental search smoother and more efficient. Working closely with a knowledgeable rental agent can help guide you through this process and ensure that you make strategic and well-timed offers.
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