In stronger real property markets, home sellers often receive multiple offers for their property.  Multiple offers can benefit a seller by pushing up the purchase price and creating an opportunity for a bidding war.  Understanding how to review and respond to multiple offers can help you get the best price and terms for your home.

Attracting Multiple Offers

Your home will have the best chance of attracting multiple offers if you do the following; price your property correctly for the marketplace, make sure that your home is in good condition and ready to show, and have your property immediately.  Putting your home on the internet will expose it to a greater number of potential buyers.

Offers By Price

Review each offer carefully; consider not only the price but also the terms of the offer and the buyer’s qualifications.  You do not need to accept the offer with the highest price; in some cases a lower priced offer may be more appealing.  Remember that you can give counter offers to one or more of the buyers. 

Make sure that you do not accidentally accept more than one offer.  When making counter offers, it is important to remember that the counter is not accepted until the buyer signs it and you then subsequently accept it.

Presentation Of Offers

While offers can be received by telephone, email or fax this may be a time saver, on occasion, having the offer presented in person may give you a clearer picture of the buyer’s qualifications and better understanding of the terms of the offer.
No Offers, No Interest

If your home has been on the market for a period of time and you have not received any interest or offers, review the following:

- How did you price your home?
- Did you make necessary repairs?
- Is your home listed on the internet?
- How is your home being marketed?

If your home isn’t seeing any action then sit down and have a frank look and take corrective action.  Â

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