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In a largely competitive real estate market like Rochester, MN, it’s likely you’ll encounter a multiple offer situation in your search for a new place to call home. No matter which side of the table you’re on, navigating multiple offers can be difficult. Here’s our guide for what to expect in multiple offer negotiations from all sides.
Information for the Seller:
Congratulations! People are lining out the door to buy the home you’ve loved, grown in and cared for over the years. But beyond the initial excitement, there are risks to consider. In a multiple offer situation, the market is hot and pressure is on the buyer to put an offer on a house they like. Some eager buyers might make a hasty offer on a house they think they love, and they could be at risk for backing out at the last minute. By the time this happens, other buyers who are interested have likely moved on to other options, leaving you empty-handed.