970 days ago

Understanding the Multi Offer situation

Matt from

This process is designed to give all potential buyers an equal opportunity.

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.

Contact me to find out more about real estate buying and selling

Image
More messages from your neighbours
H
3 days ago

Smash and grab

Hayley from Mount Maunganui

Hey does anyone have any home cameras that may have picked up someone smashing my widow outside Cayman apartments between 10pm Wednesday night and 9am Thursday. They obviously were targeting my radar detector.

3 days ago

Poll: Is it rude to talk on the phone on a bus?

The Team from Neighbourly.co.nz

Buses can be a relaxing way to get home if you have a seat and enough space. However, it can be off-putting when someone is taking a phone call next to you.

Do you think it's inconsiderate for people to have lengthy phone calls on a bus? Vote in the poll, and add your comments below.

Image
Is it rude to talk on the phone on a bus?
  • 64.4% Yes
    64.4% Complete
  • 33.3% No
    33.3% Complete
  • 2.4% Other - I'll share below
    2.4% Complete
2309 votes
1 day ago

Lions Book Fair

Helen from Matua

Sale continues TOMORROW (Saturday) 9am. You’ve donated and now we’re ready for the sale. Great fiction & beautiful non fiction. Children’s books and a huge collection of car magazines and books.

Image