Read Time: 4-5 minutes
The term multi-offer will soon become very familiar to you. Real estate agents will throw it around as if it’s an everyday phrase, but first-home buyers often misunderstand what it actually means.
I always tell buyers: It’s not a multi-offer until you’ve signed a multi-offer form.
Many buyers get caught up in the hype of “competition” without knowing what’s real and what’s just agent talk. Let’s break it down.
If you don’t understand how multi-offers work, you might:
Real estate agents often use phrases like:
❌ “We’ve had a lot of interest from other buyers.”
❌ “We’re expecting offers soon.”
❌ “Someone else is planning to submit an offer later today.”
This is all noise. Until you receive a formal multi-offer form, you’re still in a standard negotiation.
Here’s how real multi-offers work:
1) You submit a signed Sale & Purchase Agreement, which the agent holds for a set period.
2) If another signed offer arrives, it officially becomes a multi-offer process.
3) You must sign a form acknowledging you’re in a multi-offer situation.
4) You may be given a chance to revise and improve your offer.
5) The seller reviews all offers and chooses the best one.
If you were the first buyer to submit an offer, you might be given a chance to adjust your price or conditions. However, you will not know how your offer compares to the others—so it’s a bit of a gamble.
If you find yourself in a multi-offer, here’s what to do:
✅ Decide on your final number.
✅ Don’t bid against yourself.
✅ Consult someone experienced.
✅ Get legal advice before signing a multi-offer form.
✔ It’s not a multi-offer until you sign a form.
✔ Ignore agent hype — focus on facts.
✔ If you’re the first offer in, you might get a second chance.
✔ Decide your max number beforehand to avoid regrets.
✔ Get legal advice before signing anything.
