Let me first say that there is no guaranteed method to winning a multiple offer. There have been many occasions where, as the listing agent, I have seen an offer that should have blown the seller away and been the clear cut winner, only to be beaten by another that was even more appealing. When you are competing you make your best offer. You have to be prepared that it may not be thebest offer.
What can you do to make your offer as appealing as possible?
Check off every question and concern you could possibly have before making the offer. If possible, make your offer unconditional. Meaning that if your offer is the best, it is signed, accepted and a done deal right there on the spot. The sold sticker goes up and you win!
Ask about terms (closing dates, etc.). An agent experienced with multiple offers will know how to gather the information the buyer needs to write an appealing offer.
Investigate the updates throughout the property. Were they done with permits? Are there receipts from qualified tradespeople? Are there service and maintenance records?
Consider hiring a home inspector to conduct the inspection prior to writing your offer. It gives you full peace of mind going in. However, it’s an upfront cost that can feel somewhat wasteful if your offer doesn’t win. A pre-inspection is a strategic move that should first be discussed in detail with your agent.
Most important: Write your best price. There is rarely a second chance with multiple offers. You must put your best foot forward and feel confident and comfortable that even if you lose by only $1,000 you won’t have regrets.
If your offer is the best, but possibly needs a slight tweak that requires your initials, be available. If modifications are required and you are not able to initial changes immediately, the seller may move to the next option.
It should also be mentioned that just about every buyer has to lose once or twice in multiple offers to build up the confidence to do what it takes to win. When you lose, you are usually losing to a buyer who has lost a few times and reached the point where they were prepared to make an offer that wasn’t going to be beaten. If you want to win, listen closely to the advice from your agent. Every scenario is different. Experienced, strategic agents know how to appeal to the seller and help you write the best offer you can.
In summary: Write the highest price you’re comfortable with. Make the terms suit the seller, where possible. Do your best, and don’t get discouraged if you lose.