The last 3 options have a lower likelihood of securing the contract for the property. They could also counter less than the amount of the multiple counter, or decide to sit it out, or reiterate their original offer was their highest and best. If they really want the house or property, they can actually make a counter to the multiple counter and increase the attractiveness of their offer in order to try to be the successful buyer. Perhaps some dates, terms, or contingencies make one offer more or less attractive than another and therefore the seller may be willing to accept more or less from one buyer versus another.īuyers that receive a multiple counter have a few options. The multiple counters sent out to different buyers by the seller do not need to have the same terms. They will then sign it a second time, deliver to the buyers, and they will have an accepted contract. In order for the multiple counter to be a binding contract, the seller at this point will decide which of the 2 multiple counters they want to accept. Two of those 3 decide to accept the seller’s counter offer and sign the multiple counter form and send back to the seller. They send out the multiple counter to the 3 buyers. Of the 6 offers, there are 3 that stand out to the seller and they decide to do a multiple counter to just those 3. A seller receives 6 offers on their property. The multiple counter offer form used by REALTORS® in the Bozeman area is a specific form and differs from the standard counter offer form in that in order for it to be a binding agreement between buyer and seller, the seller needs to sign it twice. Or, they can make a multiple counter to more than one buyer.
They can also pick their favorite offer from the group and make a counter offer to just one particular buyer. They can pick their favorite offer from the group of offers, sign it and be done. If a seller receives multiple offers for their property, they have a few options. This form or process can be new to many buyers and sellers and is worth discussing. As we continue to see new listings generating multiple offers, we’re also seeing an increase in the use of the multiple counter offer form.
Last month, I wrote about how buyers can try to be competitive in multiple offer scenarios.
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