When a seller receives multiple offers, does everyone have a chance to up their bid? The owner usually counters back all parties and asks them to submit their highest and best offer, giving you another chance. However, if there’s a clear distinction between the offers, i.e. ‘one is all cash, at or above asking price’ vs a less than asking price, fha loan, perceived as a weaker offer, the owner may very well pick the best offer without countering the other ones. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that the buyer’s agent should be in contact with the listing agent indicating that they would rather see a counter offer than a rejection. But in all cases, if one offer clearly stand out considerably from the rest, that buyer usually ends up getting their offer accepted. Check out below to see what sold in Wintergreen Park in October 2015:
23928 Wintergreen Circle, Novi: 4 bedrooms, 2.1 bathrooms, 2,911 sq. feet, 3 car garage, Sold Price: $460,000
There really are no rules. The seller can accept an offer outright or counter some and not others or counter all. And it’s not always just price. Terms are important as well. A high price but one that asks for a lot of concessions could be put in last place. For more information on Wintergreen Park, or similar Northville or Novi neighborhoods such as Hills of Crestwood, Bella Terra and Cascades of Northville, contact The DiMora Team today at 248-505-7728 or firstname.lastname@example.org.