Obviously, for a seller, multiple offer situations are wonderful! More often than not, sellers will sell their property very close to, if not more than, asking price. A word of warning: use your real estate agent's experience to its' fullest advantage. For example, in multiple offer situations, many sellers are eager to let all of the buyers know that they are competing with one another (hoping, of course, that the buyers will better their original offer). There are buyers, however, that are unwilling to proceed in such a situation, and withdraw their offer. An experienced real estate agent can help you work through the negotiation process (and, I am experienced!).

Buyers, on the other hand, need to "put their best foot forward" when "designing" their offer to purchase. To complicate matters a little, buyers must keep in mind that a seller is not obligated to give notice to a buyer that there is a multiple offer situation. Again, the advice of an experienced real estate agent should be considered (and, I love to give advice!).

One thing I learned early on...every negotiation...every transaction...is very different. This is just one area that distinguishes an experienced agent from a newer agent. Whether you are purchasing or selling, if you find yourself in a multiple offer situation, listen carefully to and brainstorm with your real estate agent on the best approach.

©2002 Marge Harris. Publication or use of this article on or off-line without written permission from Marge Harris is prohibited. If you would like to use Marge's articles on your Web site or in your publication, just email Marge for details!

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