In today’s market, low inventory is creating a lot of competition for homes. Multiple offer situations are becoming more commonplace because of this, so we wanted to give you some tips on how to figure out which offer to go with.
As a seller, multiple offer situations can be a little tricky, but there are three ways to handle them.
The first is to just pick one offer and stick with it. You don’t have to entertain the other offers if you don’t want to.
The second way is to call for the highest and best offers. Whether you get two offers or five offers, you can send out a notification to those buyers and tell them they are in a multiple offer situation and need to submit their highest and best final offer.
“Multiple offer situations can be sticky for a seller, but there are ways to handle them.”
The last option, which puts a little bit more control in the seller’s hands in terms of what they want, is to counter each of the offers with a clause that says the seller has the final decision. So, if two buyers come back and accept that clause, the seller decides which offer to move forward with.
If you have any questions or would like us to cover a topic in one of our videos, please don’t hesitate to give us a call or send us an email. We would love to help!