If you’re selling your home, the idea of getting multiple offers to buy might seem like an ideal scenario. However, managing multiple offers can be complicated and even stressful. Working with a real estate agent will help you figure out the best course of action, but so will understanding your options. Here are some choices you can make when presented with a multiple offer scenario:
Take the Best Offer
The easiest thing to do in a multiple offer scenario is to accept the best offer on the table. This means no extra negotiation and a potentially higher sale price without adding time to your process. Accept the best offer and reject the rest immediately to make your decision.
Disclose All & Wait for New Offers
Another option is to let all the buyers know there are multiple offers in play. Disclosing multiple offers to everyone involved means buyers can counter with a better offer. If they are not interested in upping their price or adding better terms, they can walk away from the sale and leave the others for you to negotiate with.
Disclose the Best Offer
If you receive one offer that’s better than the rest, you can disclose it to the other potential buyers. This gives them the chance to either match or surpass the best offer. This might cause some buyers to walk away and others to increase their offer.
Counter, Wait & Reject
Sometimes there can be one offer that’s more promising than the rest. Even if it’s a top choice, you can counter the offer while letting the other potential buyers wait or a decision. You might get better contract terms or a better price from the “favorite” offer. If not, you know you still have backup options as long as you don’t reject them right away.
Juggling multiple offers can be stressful or exciting depending on the situation. No matter what, it’s a good idea to go over the options with a real estate professional for help in negotiating the best potential outcome.
About the Author
Rudden|Bobruska Team
Gary Rudden, Lisa Rudden, and Nick Bobruska
RUDDEN BOBRUSKA TEAM
What sets your team apart from other real estate teams?
There is no team out in the market that offers what we do. All of us are Realtors, but
we each have specialized roles, which make our team so unique!
After decades of living and selling real estate in the DMV, we have established
ourselves as one of the top real estate teams with our market expertise and
cutting-edge technology. Our savvy high-tech marketing is on every website
and social media source. We have a huge network with other top agents, which
helps to premarket homes and discover homes for buyers before they reach the
open market. Our services include professional in-house staging services, broker
expertise in negotiating and navigating contracts, and buyer representation in all
price ranges. Each client has different needs and we create a marketing plan based
on those needs.
Our most distinct feature is our in-house construction and renovation team. We
are literally a full-service, one-stop shop when selling or buying a home!
How does the in-house construction and renovation team work?
All work is managed and completed through our licensed and bonded construction
crew. No need to call outside contractors. We are like “HGTV,” but we just don’t
have a show! Whether it’s a small makeover or a major renovation, we do it all. Our
sellers love this aspect of our team because we make preparing your home for the
market so seamless. Our buyers love the advice and insight we can give for future
renovations and repairs.
Having a licensed Maryland Home Improvement contractor as part of our team
along with the knowledge, experience, commitment and services that we offer, truly
puts our team as a vanguard in the real estate industry.