What everyone should know about the Multi Offer process when buying a home
Kia Ora
This process is designed to give all potential buyers an equal opportunity.
Want to know more about the multi offer process just have a chat with me.
It is not like an auction where there can be multiple bids (offers) happening “live” with bidders (buyers) competing openly with one another to purchase the property being auctioned and the buyer is the person who pays the highest amount, out of all the participating buyers, that the Owners will accept. An Agreement is then automatically formed with the successful bidder ( buyer)
In a multi offer situation the seller is not obliged or required to accept any offer. They may accept one offer, reject all offers, or choose to negotiate further with one party.
Multi-offer processes can differ from agency to agency, but they can only be described as multi-offer when there is more than one offer in writing competing to buy the same property.
A multi-offer process can also be used if a property has failed to sell at auction or in a tender or deadline sale process . In these cases, an agent may initiate a multi-offer process where all interested parties are invited to submit their best offer.
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🎁 Holiday Gift Chat!
Do you ever regift?
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79.2% Yes! It's better to regift what I don't need
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20.8% No. It's the thought and effort that matters
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The Ministry of Social Development is reporting that fake information is circulating about new ‘December bonuses’ or ‘benefit increases’
If you get suspicious communication, please contact Netsafe.
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