If you’re selling your home, the idea of getting multiple offers to buy might seem like an ideal scenario. However, managing multiple offers can be complicated and even stressful. Working with a real estate agent will help you figure out the best course of action, but so will understanding your options. Here are some choices you can make when presented with a multiple offer scenario:
Take the Best Offer
The easiest thing to do in a multiple offer scenario is to accept the best offer on the table. This means no extra negotiation and a potentially higher sale price without adding time to your process. Accept the best offer and reject the rest immediately to make your decision.
Disclose All & Wait for New Offers
Another option is to let all the buyers know there are multiple offers in play. Disclosing multiple offers to everyone involved means buyers can counter with a better offer. If they are not interested in upping their price or adding better terms, they can walk away from the sale and leave the others for you to negotiate with.
Disclose the Best Offer
If you receive one offer that’s better than the rest, you can disclose it to the other potential buyers. This gives them the chance to either match or surpass the best offer. This might cause some buyers to walk away and others to increase their offer.
Counter, Wait & Reject
Sometimes there can be one offer that’s more promising than the rest. Even if it’s a top choice, you can counter the offer while letting the other potential buyers wait or a decision. You might get better contract terms or a better price from the “favorite” offer. If not, you know you still have backup options as long as you don’t reject them right away.
Juggling multiple offers can be stressful or exciting depending on the situation. No matter what, it’s a good idea to go over the options with a real estate professional for help in negotiating the best potential outcome.
About the Author
Jeanne Caldwell
I am in the business of learning, and when you are buying a home, learning what the "perfect" beach dream home looks like to you is the starting point for finding it. When you are selling your family's home, hearing about what you have enjoyed while you lived there helps me find the next happy owners. It is a new frontier with targeting your message these days. Digital Platforms allow marketing to a targeted homebuyer who is looking for your home! As a Realtor, I use the North East Florida Association of Realtors MLS, and the many platforms included with it. Also used is Social Media, Digital Advertising, as well as good ole Print, Open Houses, and Signage in front of your house. Thinking about buying or selling? I am ready to hear what you have to say. Call Anytime. 904-699-4991