What to Do in a Multiple Offer Situation

No matter if you are on the buying or selling side, handling multiple offers on a house in a real estate transaction can be tricky. Today, Beth Hobart walks you through some simple steps to navigate the process with ease.

See the video transcription after the jump.

Hi I’m Beth Hobart with Beth Sells Florida, and today I’m here to talk to you about what to do in a multiple offer situation.

As a buyer, when you submit an offer on a home you love, and you find out that there is other offers, it can be a little bit discouraging.  The important thing to remember is to keep your offer simple. Try not to ask for a lot of concessions or closing costs, that way your offer is more competitive. A seller will look at every offer that they have received, and usually will go with whatever offer gives them the best return.

Sometimes including a personal letter and a picture to the seller, will help them see how great of a buyer you are and how much you love this home. And of course, make sure to include a really strong pre-approval letter as well.

When you’re a seller with multiple offers, it can be really exciting, but also a little bit stressful, since you have so many offers to choose from.  So here are some tips to help you along the way:

The best course of action is to set a deadline for every buyer’s highest and best offer. Then, after the deadline, review each one. Once you choose an offer, it’s my job as your Realtor to let the other offers know that they were not chosen. And then you get to move forward with your chosen offer.

For more information on what to do in a multiple offer situation, feel free to contact me.  My name is Beth Hobart, I’m one of the top Realtors in Florida, and I’m here to help.

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