A lot of people are under the impression that the first offer submitted wins. This is incorrect. It’s not a race. It’s a negotiation.
Depending on the market conditions, we see multiple offer situations on homes that are priced in the market. They are homes where the price is so dead on that multiple buyers compete to buy the home. In these cases offers are submitted and the offer the SELLER selects is the offer that wins.
A lot of times the seller will bounce back with a “Hey, I’ve got more than one offer, give us your best offer by tomorrow” letter. We know how to handle these, and have been in a multiple offer situation more than once!
Check out the video and let us know your thoughts in the comments.