What is a Buyer Multiple offer Notification
What is a buyer multiple offer notification and how should you the buyer respond?
Multiple offers are common on properties in the SELLERS Market we are currently in here in the Indianapolis metro area, including Avon, Brownsburg, Plainfield, Danville, Carmel, Fishers, Zionsville and many other communities in and around Indianapolis.
Multiple offers means the property you are going to or have already put in an offer has more then one offer and they are giving You the buyer a chance to raise your offer so you have a better chance of possibly receiving an acceptance from the seller. All buyers that have put in offers will be sent the same notice.
In the multiple offer notification it will give you a time line that the listing agent has to receive the signed notification back or your original offer may not be considered. So make sure that you and your Real Estate agent pays attention to the details in the multiple offer notice and the process that they expect you to follow.
So what should your highest and best offer be? The highest and best offer should be the highest price you want to offer and willing to lose the property at that price. Another way of saying you would not be willing to go any higher and ok to lose the home if you don't receive the acceptance.
When a property is under multiple offer it means the property can have just one other offer the sellers are considering or they may have several. The sellers don't share that information and the listing agent is looking out for the sellers best interest. Also they won't share how high the other offers are or if the other offers are close or over asking price. They won't even say if your offer is close. I get this asked all the time and its questions that sellers or representative will not share.