multiple offers
Several purchase proposals
Multiple offers is a real estate situation where more than one buyer submits a purchase offer on the same property simultaneously.
This typically occurs in competitive markets with limited inventory, forcing buyers to bid against each other: We're in a multiple offers situation, so you may want to come in above asking price.
Sellers may then choose the highest bid, request best-and-final offers, or weigh other terms like contingencies and closing timelines.
- bidding warCompeting offers driving prices up
- price warCompeting via discounts
- counterofferAlternative terms proposed back
- seller's marketConditions favoring vendors
- hot propertyHighly desired item
dream home · overbid · asking price · negotiation · deadline · contingencies · real estate · closing · appraisal · earnest money · preapproval · leverage · frenzy · feeding frenzy · outbid · competitive · housing shortage · desirable
- real estate termslease, rent, counteroffer, asking price, tenant
- auctionsauction, bidding, bid, auctioneer, auction house
- real estatehouse, home, apartment, property, sale
- property appraisalappraiser, market value, real estate appraisal, home value, assessor
multiple offersbuyer's market
Conditions favoring purchasers
soft market · price reduction · oversupply · price reductions · distressed sale
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