Understanding a multi-offer process
A multi-offer process happens when more than one buyer makes a written offer on a property.
Summary of important things to know
It can only be described as a multi-offer when there is more than one offer in writing. An agent can’t say you are in a multi-offer process if there are no other current offers – aside from your own – in writing.
In a multi-offer situation, the seller can choose the offer that works best for them from a number of offers.
If you are a buyer in a multi-offer process, you need to put your best offer forward because you may not have another opportunity to increase your offer.
If you have any concerns about a multi-offer process you are part of, you can speak to the supervising agent or branch manager about your concerns.