Multiple Offers: Things to consider

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 In today's limited‐inventory market, it is common to receive several offers during the first several days your property has been on the market. It can be a stressful situation since all offers can be highly competitive. As an experienced agent, I can guide you and help you with your decision so you can receive the most amount of money in the least amount of time.

Things to keep in mind during a multiple offer situation:

• The highest offer isn't always the one that works best for you. One potential issue with bids over list price is the appraisal coming in low, resulting in the lender approving a smaller loan than the amount the buyer offered. That means the buyer has to come up with the difference in cash.
• If there is a financing contingency- does the offer come with a pre-qualification letter? If not, you can request one to make sure the buyer has the means to purchase the home. Check out the reputation of their lender and the down payment amount.
• Other contingencies such as cleaning, pet treatment, condo docs, etc. Are they waived and if not, who pays for these?
• Consider having a backup offer in case the first buyer defaults.