Get Multiple Offer Form

If you're looking to purchase a house in a competitive market, you might find yourself in a multiple offer situation, meaning there is at least one other party interested in the same property as you.

Thank each buyer for their interest, tell them you've received multiple offers and that in order to be fair and respectful to everyone, ask them if they would like to respond with their highest and best offer by a certain date/time, along with a pre-qualification letter.

A multiple offer occurs when more than one prospective buyer makes an offer on a property by submitting a Contract of Sale. The REIQ often receives queries from consumers about multiple offers on a property.

Is it Legal to Put an Offer on More Than One Home at a Time? Yes, it's legal; however, some jurisdictions might not allow it or have certain stipulations that go with doing so. Therefore, you should check with a real estate attorney if this is something you choose to do.

In essence, multiple offers are a competition between those buyers to have the home's seller accept their offer over other buyers. Multiple offer situations typically occur in very active real estate markets (where there are more buyers than properties), or when a highly desirable property is listed for sale.

Inform all buyers that multiple offers will be all be presented on a specific date and time. Present offers as they come in and counter them one at a time while making the other offers wait for the outcome. Present all offers, counter one offer and reject all other offers.

Sellers can accept the “best” offer; they can inform all potential purchasers that other offers are “on the table”; they can “counter” one offer while putting the other offers to the side awaiting a decision on the counter-offer; or they can “counter” one offer and reject the others.