Putting an offer on a home is an exciting moment. However, your excitement can quickly fade when you learn there are multiple offers on the house. Instead of feeling discouraged, take some steps to prepare for the situation and help your offer stand out. This guide provides some key strategies that your real estate agent would recommend.

What If Your Dream House Has Multiple Offers?

How the Seller Might Handle the Situation

When a house has multiple offers, the selling real estate agent will work with the seller to choose the most attractive one. They might look for the largest down payment, buyers that are paying in cash, or merely the highest offer overall. The seller might also give preference to buyers with loan preapproval.

However, they might not simply accept the top offer. Most selling agents will contact each interested buyer to tell them what other offers are on the table. This gives each prospective buyer the chance to improve their proposal before the seller decides.

How to Make Your Offer More Attractive

When it comes time to compete with other buyers, make every effort to appeal to the seller the most. Your real estate agent will have several strategies in mind to do so. They might recommend making the offer more personal by sending a letter to the seller. You can also shorten or waive your contingencies, such as the timeline for a home inspection. Offering to pay in cash and raising the offer can also be effective. In any case, talk through all options with your real estate agent before making a decision. In some cases, it might be ideal to see how your offer performs as is and move on if they accept another buyer.

Competing in today’s real estate market can be challenging, but top real estate agent Justyna Johnson – ExP Realty has the experience and knowledge to help you successfully buy or sell. Serving Greater St. Paul, MN, Justyna offers comprehensive home listing services and will help buyers navigate local listings. She also provides a TRUSTimate tool, which generates a free online property report. Text HOME to (651) 501-2345 for your free report. You can also call that number to schedule a meeting with Justyna, or visit her online to learn more about her services.