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 arises when multiple buyers submit written offers for a property, creating competition to achieve the best price for the seller.
For buyers, success hinges on putting your best offer forward, as you may not get a second chance. Making an offer with fewer conditions and accommodating the seller's preferred settlement date can also make your bid more attractive.
Sellers should leverage this position by clearly communicating their priorities to their agent and carefully considering all offer elements, not just price.
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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