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# How can I handle multiple offers on my property?

Managing multiple offers is one of the most exciting (and high-pressure) parts of selling your property. Handled well, it can result in a price and terms that exceed your expectations. Handled poorly, it can lead to frustrated buyers walking away. Here is our guide on how to handle multiple offers fairly and sensibly.
# How to Handle Multiple Offers on Your Property
When you have two or more interested buyers, the goal is to find the **strongest** offer, which isn't always just the highest price.

### Ask for best and final offers
The simplest and most transparent way to handle multiple offers is to ask all parties to put their best and final offer forward.
1. **Notify all parties in writing:** Formally advise all buyers that multiple offers have been made.
2. **Set a deadline:** Give them a short, clear timeframe (e.g., 48 hours) to submit their absolute best offer.
3. **Sharing offer amounts:** You don't have to tell buyers the dollar amount of other offers, but you can if you'd like to, as long as the offer is genuine and you describe it accurately. Never overstate or invent an offer. Otherwise, simply ask them to put their best foot forward.
4. **Avoid bidding wars:** While traditional agents often play buyers off against each other, this can cause buyer fatigue, where people pull out. Setting a single deadline for final offers protects you from this risk.

### Weighing up the strength of an offer
Price is important, but **conditions** are what get the deal across the finish line. A lower offer can be stronger if it has fewer hurdles.
* **Finance status:** A buyer who is pre-approved or making a cash offer is more reliable than a higher offer from someone who hasn't started their finance application.
* **Subject to sale:** An offer that is subject to the buyer selling their own home first is much riskier than an offer from someone who is ready to move now.
* **Building and pest inspections:** Are they happy with a short inspection period, or are they asking for 21 days?
* **Settlement timeframe:** Does their preferred moving date align with yours?

### A simple five-step process
1. **Notify:** Inform all interested parties of the multiple offer situation.
2. **Set the clock:** Advise all parties of the offer period closing time.
3. **Review and choose:** At the close of the period, select the strongest offer (Price + Conditions).
4. **Act fast:** Immediately contact the winning buyer and solicitors on both sides to arrange paperwork.
5. **Courtesy follow-up:** Notify the unsuccessful buyers. Advise them that you will keep their details on file and reach out immediately if the first contract falls through.

# General Offer Tips & Next Steps

#### 1. Get the details in writing
Once you have an offer you wish to accept, ensure you have all the specifics:
* Full contact details of the buyers.
* Final price and deposit amount.
* All conditions (Finance, Building/Pest, etc.).
* Preferred settlement timeframe.
* **Solicitor details:** Ask for the name of the buyer’s solicitor and provide your own.

#### 2. Use the right forms
You can download a **Printable Offer Form** (non-legally binding) from your PropertyNow account under **'Forms and Downloads'**. This helps you capture all the necessary info in one go.

#### 3. Mark the property as under contract
We recommend waiting until the **cooling-off period** has expired before marking your listing as 'Under Contract' in your dashboard. Once the contract goes **unconditional**, you can then mark it as 'Sold'. Rest assured if anything goes wrong, you can easily unmark as under contract or sold.

#### 4. Inspections while under contract
You can still hold open houses or private viewings while a property is under contract (especially if it's still in the cooling-off period). However, you **must** disclose to attendees that the property is currently under contract and you are taking backup interest.