Real Estate Term
Multiple Offers
A situation where a seller receives more than one offer to purchase their property.
What is Multiple Offers?
Multiple offers occur when several buyers bid on the same property at once, a common feature of a seller's market. The seller can review all offers together and choose the strongest on price and terms, which often pushes buyers to raise their price or reduce conditions to compete. For buyers, understanding the process helps them decide how aggressive to be without overpaying.
Frequently asked questions
Related terms
Offer to PurchaseA formal proposal to buy a property at a specified price and terms.Counter-OfferA response to an offer that proposes different terms, essentially rejecting the original offer.Seller's MarketA market condition where demand exceeds supply, giving sellers more negotiating power.Conditional OfferAn offer to purchase that includes specific conditions that must be met before the sale is finalized.
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