Chillicothe, Ohio
70 Central Center
Chillicothe, OH 45601
(740) 775-8500

A Buyer's Guide to Multiple Offers September 8, 2020

Chillicothe, Ross
A Buyer's Guide to Multiple Offers, Chillicothe, Ohio

When you’re ready to buy a house, you’ll look for features such as size, floor plan, storage, and location as you browse the market. Once you find a property that meets your needs, you might feel anxious about competing with other potential buyers. Use the following guide to navigate a multiple-offer situation to land your dream home. 

3 Ways Home Buyers Can Handle Multiple Offers

1. Submit a Pre-Approval Letter

Demonstrate that you are a strong buyer by submitting a pre-approval letter from your lender to the seller. This document will contain information about how much mortgage you qualify to borrow and for what length of time, proving that you will have access to funds that cover the cost of the home.

2. Negotiate Strategically 

buy a houseIn a buyer’s market, you might be able to save money by negotiating a price beneath the listing amount. However, too low of an offer could easily result in another buyer beating your offer.

In a seller’s market, there may be several buyers willing to pay full price for the home. In this situation, consider making an offer slightly above the listing price. If they’re able to, ask your broker to disclose other offers so you know what you’re competing against. 

3. Offer an Earnest Money Deposit

An earnest money deposit is a sum of money given to a seller upfront. Earnest money often makes sellers more inclined to accept your offer. This functions as a down payment that’s given directly to the seller and demonstrates that you are serious about wanting to close as soon as possible.

This also allows you more time to acquire the proper financing to buy a house. It also gives you more time to have the property appraised and inspected.


If you want to buy a house, keep the process simple and get in touch with Coldwell Banker Realty Champions, Inc. These real estate agents are based in Chillicothe, OH, and provide assistance with buying or selling a property and obtaining a mortgage. Call (740) 775-8500 to speak with a real estate agent about local listings. Visit their website to learn more about how to market and showcase houses for sale.

Other Announcements, Events and Deals from Coldwell Banker Realty Champions Inc
The Do's & Don'ts of Buying a Plot of Vacant Land, Chillicothe, Ohio
Building your own home is your chance to live in a space designed around your needs, ensuring you get the house you’ve always dreamed of. However, choosing a vacant piece of real more
A Guide to Upgrading Your Home With New Coats of Paint, Chillicothe, Ohio
Before you put your home up for sale, it’s important to make sure that it’s in the best possible condition. From performing repairs to updating the paint, these little changes can more
3 Aspects to Consider When Moving to a New Neighborhood, Chillicothe, Ohio
For those looking to buy a house, choosing the right location is essential. It’s not only about narrowing down your search to a specific city; you must also find a neighborhood that more
3 Mistakes First-Time Homebuyers Should Avoid, Chillicothe, Ohio
Acquiring property can be tricky and stressful for seasoned investors, and even more overwhelming if it’s your first time. If you let your excitement take over and plunge in, you more