Answer: If your offers are in writing, and if they are accepted in writing before you have time to withdraw either one, you could be in trouble. You'd be obligated on two binding contracts. Losing an earnest money deposit could be the least of your problems.
NO ACTION IN A YEAR
Dear Edith: I have had my home on the market for well over a year and my real estate agent has not show it once. Is this normal? -- S.
Answer: Of course not, and you may have a legitimate complaint against your agent. If you're not being urged to drop your price, you're not being well served.
If your house has been entered in a multiple-listing system, many agents know about it and could be bringing customers. But they can't drag prospective buyers by the hair into an overpriced house. My guess is that the buying public has voted that your place is not worth anything near what you're asking.
TAX-DEFERRED EXCHANGE
Dear Edith: We own a vacation home and are considering selling it to purchase another vacation home on a different lake. We have used the property exclusively for our own enjoyment and it has never been rented out. Our son suggested that we look into a Like-Kind Exchange. Are vacation homes eligible for this kind of treatment? If so, what IRS publication would be helpful? -- e-mail
Answer: You can look up Section 1031 tax-deferred exchanges on the Internet, but I'm afraid you'll find they're only for investment property.