Can I sign an LOI with more than one buyer if none of them are exclusive yet?

Generally, yes, as long as none of the LOIs you've signed actually contains a binding exclusivity or no-shop commitment. Signing preliminary, non-binding documents with more than one interested party isn't unusual, and there's nothing inherently wrong with keeping multiple conversations open until you've decided who to move forward with, provided you haven't already promised otherwise.

The trap is losing track of exactly what you've signed with whom. It's easy to sign a second or third LOI without carefully checking whether the first one already contains an exclusivity clause that's now technically breached by continuing to negotiate elsewhere — sellers juggling several buyers at once are exactly the people most likely to make this mistake, since the documents can look similar and the details blur together.

Before signing any additional LOI while other conversations are still active, check every prior document for an exclusivity commitment, not just the most recent one, and be explicit with each buyer about where things stand if asked. A Treadstone business lawyer can review what you've already signed to confirm you're actually still free to keep multiple conversations open.