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 multiple buyers submit written offers for a property, creating competition.
For buyers, it's crucial to put your best price forward and make your offer attractive with minimal conditions. Understanding the seller's preferred settlement date can also provide an advantage.
For sellers, this scenario puts you in a strong position. Evaluate all parts of an offer—price, conditions, and settlement—and remember you are not obligated to accept any of them to achieve the best possible outcome.
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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