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Handling Multiple Offers

When we have received multiple offers or are certain that we will receive multiple offers, we will set a deadline for each buyer to submit their highest & best offer. We will follow these best practices:

  1. Set a deadline that allows a full weekend of showings.

    This ensures that all motivated buyers have had a chance to view the property. We generally recommend reviewing offers on Sunday evening or Monday morning.

  2. Notify parties of multiple offers only when that information is requested.

    Buyers will often choose not to view homes that already have offers. We want as many buyers as possible to view your property.

  3. Keep specific details of any offer confidential.

    If you allow buyers to bid against each other by small increments, you run a high risk that the winning buyer will terminate after they have "calmed down". By offering blindly, the buyers have a much higher likelihood of following through with their contract.

  4. Offer non-winning buyers the opportunity to submit a backup contract,

    which will increase your leverage with the winning buyer during the repairs negotiation.

Concentrating demand to a reasonable window of time gives you the highest chance of multiple offers on your property.

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