Due to the lack of homes for sale, having multiple offers is becoming quite common. While this is great for sellers, it can be emotionally challenging for buyers as only one offer will result in a sale. Below are some misconceptions about multiple offer situations.

•    Sellers have to give all interested buyers a chance to present an offer. FACT – Sellers can accept an offer at any time without informing other buyers, they can counter one offer and put other offers to the side, or they can invite buyers to make their best offer, usually by a certain time.

•    All offers are confidential. FACT - Sellers can instruct their agent to disclose details about an offer to other buyers in hopes of getting a better offer.  In most cases, it may be best to keep terms from other buyers but sellers are not required to do so.

•    The highest price will win the bid. FACT – Many factors play into a sellers’ decision on what offer to choose. Favorable closing date, cash vs. financing, significant down payments, minimal inspections all play into what looks good to a seller.

While it is disappointing for buyers when their offer is not accepted, it is a listing agent’s job to provide open communications to ensure fair and honest treatment throughout the process.

Contact me if you are looking for an experienced agent to provide you with negotiating strategies.

Donna Forest M: 603-731-5151 donna@donnaforest.com Follow her on Facebook