In today's market, multiple offers are common place. As a buyer and a seller there are things you must consider when dealing with a multiple offer situation.
As a buyer there are a few very important items. #1 get approved for financing before you start looking. It goes a long way to send a loan approval letter with your offer and you need to be ready to write an offer as soon as you see the property. In this market, if you "sleep on it", the house will more than likely be pending before you can make an offer. Also, it is not uncommon to see above list price offers, so that needs to be weighed out when you submit an offer. You want your offer to be as clean as possible.
The seller has a few things to think about as well. Price is always a factor as well as what the buyer is asking for? What type of contingency are in the offer? What type of loan is the buyer doing. All of this needs to be weighed out and reviewed along with a net sheet to compare each offer side by side.
When it comes to todays market, it is more important than ever to use a real estate professional with the experience to help you through the process.
Call me anytime to talk more about the current market.