The house I am interested in has multiple offers!
If you put an offer in on a home and the agent lets you know that the property already has an offer you will then go into a multiple offer situation. The listing agent will send over a 'multiple offer form' to all interested parties and will give you a deadline for a response time. When dealing with multiple offers you have several options; you can leave your offer as is, so that means that you're not going to offer a higher amount and you're not going to make any changes to your offer, you can also choose to offer a higher amount than originally offered, or you can cancel your offer all together. The listing agent cannot legally give any information as to what the other offers are, so as a general rule of thumb we tell clients to submit what they feel the house is worth... not a penny higher or lower so if another offer does get accepted you feel confident in your offer. Be sure your agent pulls comps to give you a deeper feel for the value of the home and the community.
Blog Archive2017-07-14 10:45:41
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