In a seller’s market, deciding to buy a house and finding a property you love might be the easy part. When demand is high, however, you might be competing with several other buyers who are just as motivated—some of whom might make a better offer. Understanding what happens in this situation and what to do next can help you get your dream home, even if the sellers get multiple offers.

What Might the Sellers Do?

How the sellers respond to the multiple offers depends a great deal on their own personalities and the advice of their real estate agent. If they’re anxious to sell the property, they might simply accept the best offer and turn down the others. However, in some cases, they might tell you about the other offers they’ve received and invite you to send in another bid. Fortunately, there are several ways to make your offer more attractive to the sellers.

How Do You Compose a Second Bid?

If you’ve been approved for more than you initially offered, simply sending in a higher number may compel the seller to choose your offer over the others. You might also offer to cover more of the closing costs or drop some of the repair requests you might have made if you’re willing to buy a house with potential issues.

However, if your offer has already stretched your financial limits, you may try personalizing your bid with a letter to the sellers that describes what makes their home more attractive. Being seen as an individual—instead of just a bid on a piece of paper—may convince the sellers to choose your offer. You may also consider dropping or shortening contingencies, which give the sellers more confidence and freedom.

If you’re planning to buy a house in the Waterloo, IL area, turn to JoAnn Meier at RE/MAX First Choice, one of the area’s top real estate agents. With an in-depth understanding of the local market and a passion for helping people find their dream homes, you can rely on her to guide you through every step of the process. Visit her online to browse current homes for sale, and call (618) 939-6003 today to find out how she can help you buy a house you’ll love.