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7 Tips to Help a Home Buyer Win in a Multiple Offer Situation Get Pre-Approved, Not Pre-Qualified. ... Explore Different Types of Financing. ... Have Fewer Contingencies. ... Make a Large Deposit. ... Make a Large Down Payment. ... Make a Strong Offer. ... Other Excellent Home Buyer Resources.
When there are multiple offers, the seller typically takes one of three actions: Accepts the most favorable offer. Counters all offers to give everyone a chance to come back with a better bid in an effort to get the best price and terms. Counters the offer closest to the price and terms the seller's seeking.
- If you received more than one offer on the property, you must present all offers together. - IF you have knowledge of another offer that will be coming in, you must let the sellers know this at the time of your presentation of the current offer.
It's up to the buyer to decide what you can disclose. Your Realtor will review the offer and check for any of these clauses before approaching other buyers. You may be able to tell other buyers that there are multiple offers on the table without going into detail about the number of bids and the offer amounts.
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