It’s possible you as the seller, may be faced with multiple competing offers to purchase your property. Here are four simple and common strategies to deal with the situation.
1. you can accept the “best” offer;
2. you can inform all potential purchasers that other offers are “on the table” and invite them to make their “best” offer; y
3. You can “counter” one offer while putting the other offers to the side awaiting a decision on your counter-offer;
4. “counter” one offer and reject the others.
Realize that each of these approaches has advantages and disadvantages. Patience may result in an even better offer being received; inviting buyers to make their “best” offers may produce an offer (or offers) better than those “on the table” – or may discourage buyers who feel they’ve already made a fair offer resulting in them breaking off negotiations to pursue other properties. Ultimately you as the SELLER should make the decisions, however, are yours to make.
Working with an experienced real estate agent who will guide you through the negotiation is priceless.
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