Buying guide
How to navigate multi-offer situations as a buyer & seller
Everything you need to know to get a result
AI summary
A multi-offer situation occurs when a property receives multiple written offers, creating competition. Understanding the process is vital for both buyers and sellers to achieve a successful result.
For buyers, it's crucial to put your best offer forward first. An attractive offer often has fewer conditions and a settlement date that suits the vendor.
For sellers, a multi-offer provides a strong negotiating position. Clearly communicate your ideal terms to your agent and remember you are not obligated to accept any offer.
What is a multi-offer?
Everything you need to know about multi-offer situations
6 tips for buyers in a multi-offer process
1. Put your best offer forward
2. Do your homework
As a buyer its all about making your offer stand out
3. Know the highest price isn’t always the best offer
4. Work with the vendor
5. Put the pressure on
6. Write a cover letter
6 Tips for sellers in a multi-offer process
1. Trust your agent
2. Communicate what you want clearly
Sellers are in a position of power during multi-offers.
3. Consider every element of every offer
4. Be helpful
5. Do your homework
6. Don’t be afraid to decline offers and don’t be rushed
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