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When your dealing with forclosures, short sales, or just really well priced homes multiple offers are very common! I listed a forclosure last month, and the first 2-weeks it was on the market....nothing! On about the 16th day on the market we got 3 offers in one day, and through the next few day they kept coming in! We ended up with a total of 9 offers on the home. You should know however if you are working directly with the sellers agent, their first priority is to the seller. If you feel uncomfortable in the situation I suggest you interview a few buyers agents in the area and choose one that will work for you!
I know in my state (PA) we have a price escalation addendum that give you the ability to put in an offer with increases up to a maximum dollar amount you want to spend (like bidding on Ebay). The best part is if the seller accepts your offer they have to show you the next highest offer.example: You want to offer $100,000, list price is $110,000. Submit your offer at $100,000 with $500 increase up to a maximum of $108,000. If the other offer was $107,000 then your offer would be $107,500 in the end. Then they need to prove to you the other offer was $107,000. Ask your agent if this is allowed in your state.Good Luck!
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