Although our market right now is relatively balanced, multiple offer situations are not uncommon, especially if a property is priced competitively. As a buyer, it's not the most fun situation to be in, however there are a few tips to remember to give you the best shot at acceptance.
1. Make your first offer super clean and put your best foot forward. Some make the mistake of not coming in strong. It's up to the seller's discretion on how to respond, and sometimes they pick the highest offer, or will only counter the highest ones they receive.
2. Limit contingencies. Sellers prefer to know if their sale is going through sooner than later. Buyers can limit the time frame for investigations to be on the faster side (7-10 days) so that the seller knows if the sale is moving forward.
3. Submit a complete offer package. Make sure you anticipate any initial questions and have a very thorough package put together. The goal is to make it easy for the other side to say yes to your offer or to be included in a multiple counter offer.
4. Use a seasoned and well-respected agent. If you are in a multiple offer situation, sometimes you can be neck-and-neck. Making sure your agent is on top of communication, well respected, and quick to respond are all important factors. And making sure the listing agent wants to work with your agent could be the reason you get acceptance!
Good luck out there!