Buyers Guide: Multiple Offers Listings

If you’re getting into the Windsor real estate market as a buyer it’s important to really think about if the home is right for you and that you want to get into a multiple offers situation. We get that the market can be a challenge. Countless searches for houses for sale in Windsor. Multiple visits to Windsor homes for sale. It’s natural that you’ll want to act quickly and decisively and have your Windsor REALTOR® put an offer in. Be forewarned however, getting into a multiple offers situation can cause you to shoot yourself in the foot or maybe over spend.

We get it, as a buyer it can be hard to know if it is a good idea to jump into a multiple offers listing. You may think, “what is the harm in throwing my hat in the ring. Spoiler alert, there can be a bad outcome, but we’ll get back to that shortly.

Let’s talk about how you can decide if you should have your agent write an offer on a home that is getting or will most likely get multiple offers. There are two questions to carefully consider: ⁠1. Is this your dream home?⁠ 2. Can you make a competitive offer?⁠ If you can confidently answer yes to both, then you’re in a position to write that offer. Keep in mind, you'll want to make the best possible offer that you can, that you are of course comfortable with, to give you your best chance.⁠

Now let’s talk about when you should hit the brakes and bake off. Admittedly, this is a bit harder. Really it comes down to whether you can make a competitive offer and if that offer is worth it, especially if the home isn't your dream home.

Let’s get back to the “what's the harm in just trying” question.⁠ Here's the thing to think about, if you make an offer "just because" you are risking driving up the cost of the home you really want to buy if your “why not” offer isn’t the chosen offer. The more offers for home, the higher the price is likely to be driven up.⁠ Now all of a sudden that new sale price from the “why not” house will become the new benchmark for the home that you are going to buy down the road.

At the end of the day, the decision is difficult and your agent can only give so much insight. So before submitting that offer think about those two questions from above. Just like in cards, there is a time to push all in and there are times to fold and try again.⁠

Here at Jump Realty our agents will give you honest advice on what course of action is best for you in their professional opinion and will always put taking care of your best interests first! With offices in Windsor, Tecumseh, Kingsville, and Chatham, no matter where you are, a Jump agent is ready to help. Please contact us for any housing needs and let us give you a better real estate experience!